And so, as usual, Sirius/XM (Siri) has spiked through resistance just before earnings to reach the next plateau before then settling 30% – ish from its peak. And as usual the analysts come scurrying out like cockroaches to say it’s overvalued, the sky is falling, beware beware , blah blah blah. It’s all a broken record. More to the point, who really cares? All of the posturing and political backstabbing that has (and probably still is) occurred boils down to a couple of satellite radio start-ups who dared to take on terrestrial radio. I don’t think any of us can fully comprehend the death grip that companies like Clear Channel have had on politicians for the last 100 years. Did everyone really think the merger of Sirius and XM would not turn into a political fecal storm?
Regardless of opinion about where the stock will be in the future, no one can deny that it is consistently moving higher. The volume of call interest is very strong, although unfortunately it is looking bleak for the remaining 80,000 of open interest for the March 1.0 strike.
The Weekly chart shows the price action steadily above the 13 week EMA and recently pushing through the 50 week EMA which provides strong support at .71 cents. Any bounce off of the 13 week or 20 week EMA would potentially be a good entry point.
Siri
In any case, Sirius/XM seems to have weathered the storm and continues to gain traction. OK, the stock price did not hold the dollar mark for 10 straight days. The small illogical side of my brain said that the evil conspirators out there would not let it happen. Guess we all know how that turned out. But I think everyone can see that it will continue to move forward in growth and not only provide a great service, but reward the common share holders who have the patience to stick it out. Car sales from the majors like Ford (F), GM, Toyota (TM), and Honda are on the upswing as well as used car sales promos.
Personally I find it very difficult to believe that a stock so consistently at the top of the “most active” list is not going to be given the latitude it needs to stay above $1.00 for ten days. I don’t think that is very far off but what I think amounts to nothing. The big boys with the big dollars control the stock market folks. And it is their job to take your money. Never forget that.
Bravo….enough said from me…it would repetitive of most of the consensus of thoughts here….
Keith
Great 1st article for KOAT, Mr. Lattarulo . Spot on. Regardless of the short term fluctuation, the trend is UP. Hope the new refi will start yet another trend up. Hope to read more from you.
Nice read and couldn’t agree more Mr. Lattarulo. The long term trend is definitely up and the future of this company has never looked better. As a Long, these short term pull backs are nothing but an opportunity to add to positions or for a newbie establish an entry point. Mel is taking care of business and I advise everyone to carefully listen to his words as to what to expect going forward…the man delivers. Look forward to your next article,
Gino.