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Old 01-17-2007, 01:54 PM   #1
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Default Wow, rough afternoon

Just taking a look at the SIRI and XMSR charts on Google, and they paint a really downhill slide for both stocks about an hour ago. Sirius shedded 16 cents in just 12 minutes (1:48 to 2) while XM lost a dollar and 10 cents in 20 minutes (1:48 to 2:08). Both losses were also on extremely heavy volumes too (XM at 10 to 15 times the 2 minute rate before, Sirius at anywhere between 10 and 30 times the 2 minute rate before).

My guess is somebody might be doing some massive profit-taking. But wow. It just bumrushed the stocks.

(EDIT TO ADD): well, I guess we know the story now.

A bad sign that on this alone had caused the two companies to shed 1/2 of their gains of the last 2 weeks in one afternoon.

Last edited by unoriginal; 01-17-2007 at 02:55 PM..
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