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SIRI added to NASDAQ100
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| SIRI added to NASDAQ100
- Click HERE to go to the original thread with graphics
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| djequipment |
SIRI and XM both added to the NASDAQ 100 as of December 20.
This is HUGE news as all NASDAQ100 index funds will have to be re-weighted with shares of SIRI. This will take tens of millions of shares out of the market and into those funds.....
Up up and away!!! |
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| kascott |
Sirius Satellite Radio SIRI, along with its arch rival, XM Satellite Radio, will both debut on the Nasdaq-100 Index next Monday. This index tracks the movement of the 100 largest non-financial companies trading on the Nasdaq Composite.
According to SIRI's Equity Scorecard feature on Schaeffer's Gold (www.schaeffersresearch.com/redirect...E=UC04*W&PAGE=1), the equity boasts strong technical indicators from a short-term and long-term perspective. Over the past few weeks, the stock has more than doubled in value. A brief pullback last week (spurred by a brokerage downgrade) was quickly corrected near the site of the stock's ascending 10-day moving average.
Although the stock is one of the most-active names on the Nasdaq Composite (with average daily volume of more than 49 million shares), many market players have aligned on the bearish front. The equity's Schaeffer's put/call open interest ratio (SOIR) has been on the rise over the past few weeks and currently stands at 0.47, just one percent shy of an annual peak. Short interest comprises more than seven percent of the security's available float for trading but, due to the heavy daily volume on the stock, could be covered in about two days. Wall Street is also pessimistic, as 12 of the 15 brokerage firms covering SIRI have named it a "hold" or a "sell." Negativity in the nation's media also bodes well for SIRI (and for the satellite radio industry), in our contrarian view.
SIRI options pits are notably active today, as the December 7.5 call has seen more than 45,000 contracts change hands today. This newly in-the-money option, which expires on Friday, was previously home to just over 65,000 contracts. Today's activity could largely be the product of profit-takers liquidating their positions ahead of the option's expiration.
Click the following link to see the Daily Chart of SIRI Since October 2004 With 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=11991 . |
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