Algokid

Bullish on SIRIUS XM RADIO

Long
BATS:SIRI   Sirius XM Holdings Inc
1
SIRI has broken it 's resistance around 2.50 . Although there 's more resistance level to be broken, I'm bullish on the stock.

Another reason I like this stock, is the insider buying action during the month of August by Liberty Media Corp. For the month of August , the bought the following

Aug 10 -14 - 89.9 million shares
Aug 24 - 28 - 4.2 million shares
Aug 29 -31 - 24.3 million shares

The company currently hold 3.1 billion shares of Sirius , which represent 48.6 % stake. They have intention to increase this stake to 50 % + .

Q2 showed revenue was up by 13 % , and the number of subscribers reached a all time high of 23 million. Most analyst have a target of 4.50 - 4.75 for the stock, I'm a bit conservative with a target @ 4.01. I have a stop loss@ 2.10.

There ' s a lot of activity on this stock, on Aug 9th, someone bough 35,000 JAN2014 calls option contract at 0.24............

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