SIRI- Another big move is coming

SIRI- Sirius XM Satellite Radio- After a nice upward move from from 37 cents to 78 cents, the stock is trading in narrower and narrower band. Most recently it seems to be stuck in 65 to70 cents band. The volume is also slowing down- so the tough battle between sellers and buyers in this field (band of 65 to 70 cents) is becoming decisive...one group is going to emerge as a winner shortly. Bias is towards an up-move.

The best trading strategy in such situation where we know- a move is coming but the chart is not decisive about the direction- is buying options- call options at 70 and buying put options at 65. However there are no options for SIRI at this moment.

The safer trading strategy is watch out for a breakout (which most probably will happen with a gap in prices) and jump on.

The aggressive strategy is to trade now but never lose sight of the stoploss (Duh, not only here but every time, a trader who is trading for a short-term movement can not afford to ignore stop-loss)

I am watching for 2 things- breakout above 70 or below 65 WITH jump in volume.