SRS

I was watching SRS today; took one trade (at the 11:30-hour), though should have taken two (after vwap held for a second time). Anyway, the first thing that intrigues me with SRS is the increased average volume in the course of the year to date, while price has been stuck in a relatively narrow range. At it's peak (11/21/08) SRS reached just over $270 trading on 7.9-million shares. While as recent as last week it traded at $61 on 32.6-million shares.Some days SRS is sloppy and all over the place, other days it can have a clean trend with a lot of profit potential for a day trader. Currently the moving averages (15-minute chart 20- & 50-EMA's) are in a bullish orientation; leading us to take notice when price pulls back to test the 50-EMA (as it did today on a gap-down). Yes the 50-EMA can be overshot on gap-down opens and end-of-day selling, but that's even more reason to pay attention and look for a reversion to the mean.So, here's a look at today's 5-minute chartFor a cleaner perspective, here's a look at a 50-point ($0.50) range-bar chartOr, better yet, here's a 100-point ($1.00) range bar chartThis is a tricky trading vehicle, it's very sensitive to the broader market sentiment, so as the market tanked at the end-of-day SRS accelerated to the highs.