| Symbol | Sector | Return | Exposure | Trades | Last Trade | Status |
|---|---|---|---|---|---|---|
| SIRI | Broadcasting and Entertainment | -29.13% | n/a | 2 | 22-Sep-08 | Prior Holding |
12-Sep-08
SIRI - Another slow-growth PR? This is old news...
Holding Rationale for SIRI.
Wow, SIRI dives below $1 and I'm sitting on it at $1.26 because a press release says they project slower growth to come. This is old fucking news, and I can't believe it's still driving the shareholder to act on it. We've known there's going to be slower growth since before the merger was approved. Everyone knows it, and their estimates are BASED on it. They have tons of contract deals with carmakers, putting their units and service into cars straight outta the factory. Economy dictates that less cars are selling, hence an 8,000 employee layoff at Ford. This was over a month ago people, being the 2nd release of this knowledge.
Now we sit here in Sept. and yet another release tells us what we already know. Let the fear feed your losses people, and take me down with you. I really dont' know what I want to do with this one now, but I'm not quite ready to let it go.
I have an itching feeling that this stock will not recover to +$1.25 for a minimum of 3 months. I'm not sure I want to hold on that long, but I do think it will break over $1.00 by end of next week as it, as I like to call it "lagtrends" (read as base-bouncing up and down with no dive or breakout).
Bottom-line: If yer in, stay in for at least the next 3 days, if you aren't, stay out for the next 3 weeks. At that point, re-evaluate the chart.
Tagged Stocks: SIRI
Posted at 15:35 in Holding Rationales | Permalink | Comments () | Top
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