This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Time to Buy Sirius

This story was originally published on RealMoney on June 29 at 8:23 a.m. EDT.

Boy, how quickly everyone moved from morose to giddy. But that's what one up day in the market -- and one down day in oil -- will do to folks.

Yet, while I'm not trying to be a wet blanket, I am trying to be realistic. And a "realistic" view would say that the oversold condition will not go away immediately, especially as yesterday's move up came on some fairly unimpressive volume. The Nasdaq 100 Trust (QQQQ) chart below doesn't exactly paint a buy-me-now picture.

Of course, maybe this is really the start of something big, and just like the fakeout the bulls received just a few short days ago, the bears could be in for the same sort of "treat." Still, until I see some new highs, or at least some broken downtrend lines, I have to remain skeptical.



Today, the Dow Jones Industrial Average, Sirius Satellite Radio (SIRI - Get Report), Cerner (CERN - Get Report), Asta Funding (ASFI - Get Report), TiVo (TIVO - Get Report) and Kopin (KOPN).








Charts produced by TC2000, which is a registered trademark of Worden Brothers Inc.


And that is the final word from Princeton, N.J. where apparently yours truly has some hidden talents. Drafted at this past weekend's masters regatta to cox a boat made up of four petite 20-something coxswains, I urged "my girls" to an open-water victory.

Of course, I barely know starboard from bow, but darn it, when I called a "power 10" those ladies responded! A special shout out to my stroke, Chris; three seat, Jinny; two seat, Amanda; and my bow seat, Bess; for the quickest 500 meters Carnegie Lake will ever see!

Please note that due to factors including low market capitalization and/or insufficient public float, we consider Asta Funding and Kopin to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.
Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes a daily technical analysis column for RealMoney.com and also produces a daily premium product for TheStreet.com called The Chartman's Top Stocks -- click here for a free two-week trial. While Gary cannot provide investment advice or recommendations, he appreciates your feedback; click here to send him an email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ASFI $8.23 0.24%
CERN $71.96 -2.00%
KOPN $3.01 2.00%
SIRI $3.96 0.25%
TIVO $10.08 1.40%

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs