Monday, February 11, 2008

Longshots: XM Satellite Radio

My pal Kyle loves XM Satellite Radio so much — particularly the MLB coverage — that he went long the stock a few weeks back. XMSR fell 3% today to 12.72, still a healthy gain in that time. Volume was miniscule on today's pullback. Was it a healthy breather before another run up? Or is XMSR tapped out and ready to sell off again? I'm not an XM fan, but if I were, I'd wait 'til it drops back to its 200-day SMA (12.61 and no higher) before considering.

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