Unofficial trade ideas are trade ideas that may or may not list specific stops & exact price targets and may or may not be followed up with. Unofficial trade ideas will only be moved to the Active and Completed Trade categories if they are first published as being recategorized as an official trade idea.
Member @getlucky asked for my thoughts on SIRI (Sirius XM Holdings) in the trading room. As the charts seem pretty clear as to the next major trend in the stock, which I might also add as an official trade idea soon, I figured that I would share my reply here on the front page for all to see. Minor zigs & zags aside, it appears to me that SIRI is poised for a correction down to the 5.75-5.80 area, about 12-13% below current levels, with a sell signal to come on an impulsive breakdown and/or close below this bearish rising wedge [...]