SIRIUS XM Radio Inc. (NASDAQ: SIRI) has seen a lot of trading volume in recent days considering the lack of real company news.Â It is almost daily that some subscriber or free newsletter is issuing an alert on the stock, but not noticing the elevated share volume is getting to be almost impossible.Â Shares are not even up a penny today, yet at 3:30 PM EST we have already seen 200 million shares trade.
Here is the volume of the recent trading days with the closing bell prices:
- 24-Mar-10Â 162,572,800Â Â Â $0.88
- 23-Mar-10Â 122,883,900Â Â Â $0.87
- 22-Mar-10Â 237,239,300Â Â Â $0.86
- 19-Mar-10Â 180,368,400Â Â Â $0.83
This stock still is exhibiting a range-bound trading pattern, although we would caution against using any traditional trading analysis in any penny stock.Â That is double the case if it is SIRIUS XM.
JON C. OGG