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Thread: Sweaty Palms

  1. #1
    sxminvestor is offline

    Sweaty Palms

    I just bought another 20,000 shares at .11883 and my palms sweated immediately as I pressed the buy button.

    Something deep down tells me to believe in Mel - he has alot of skin in the game and does not want his legacy to go down in a bankruptcy.

    If there was any CEO I would want to get us through this, he is my pick.

    Refinancing could send this stock to $1.00 or more, so I have to put more $ at risk here. If it wasn't for the fact that there was a merger where massive costs can keep getting pulled out & the fact that the car and finance markets have likely bottommed, I would not go near a stock with this type of debt.

  2. #2
    just sirius is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 1,184
    SXM

    Picked up 17500 yesterday at .1131. Got the exact same feeling. Took me a couple of seconds to pull the trigger. Slept pretty good when Iphone app announcement came out. then reality sets in and the eyes pop open at 3am

  3. #3
    AmenhotepIII is offline
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    Joined: Nov 2008 Location: San Diego, CA Posts: 83
    Man you guys are making my trigger finger get itchy....

  4. #4
    sxminvestor is offline
    Quote Originally Posted by just sirius View Post
    SXM

    Picked up 17500 yesterday at .1131. Got the exact same feeling. Took me a couple of seconds to pull the trigger. Slept pretty good when Iphone app announcement came out. then reality sets in and the eyes pop open at 3am

    I've lost so much $ that I'm willing to lose another 12k with the possibility of making 100k back. After being in this stock for 5 years, I have to roll the dice and I truly believe Mel is not involved in any conspiracy and wants to have his legacy written that he pulled off this merger against all odds and a collapsed economy, car market and still kept the shares afloat. I think his pride is bigger than any $ he may get paid, so I think he would rather have his fingers cut off 1 by 1 than to be defeated by his naysayers.

  5. #5
    sxminvestor is offline
    Quote Originally Posted by just sirius View Post
    SXM

    Picked up 17500 yesterday at .1131. Got the exact same feeling. Took me a couple of seconds to pull the trigger. Slept pretty good when Iphone app announcement came out. then reality sets in and the eyes pop open at 3am
    Eyes open at 3am - lol

    I haven't slept right in years.

  6. #6
    Sworntwofun is offline
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    Joined: Dec 2008 Posts: 588
    Good Luck....I have been itching myself to add another 15000 shares myself to round off to a even 50,000 shares...If it pops to $1 after the feb refi would you sell and buy back later or let it ride....I not trying to get in your business....Just tring to figure the smart move for myself....Adv right now 35000 @ .404
    Thanks

  7. #7
    sxminvestor is offline
    If that happenned I would likely sell 50% at least and wait for a dip and maybe buy back. I would definately let alot ride because this is the biggest hurdle and believe in the company and management, so I would like to put it away and see where it is in a few years.

  8. #8
    Sworntwofun is offline
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    Joined: Dec 2008 Posts: 588
    Thanks.......

  9. #9
    jmm232 is offline
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    Joined: Apr 2008 Posts: 206
    SXM,

    I know that feeling well. I told myself that I was done buying at 10K shares until the shareholder meeting. Since the December meeting, I have added another 20K to bring my average way down. I think we get unjustly bashed because of the current price. Rightfully so. However, the company is resolving the debt situation and paying down debt. I have full confidence in February and May being taken care of. December is a ways off. IMO, they are making the right moves. The lifetime subs Sirius is taking in puts more cash in their pockets.

    If this stock were to jump over $1, I would have to sell off half. Pop to $2, have to sell off 1/4. At this point, it would be about pulling out most of the initial cost and riding the profits.

    Cmon Mel!! Shock and Awe!!

  10. #10
    just sirius is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 1,184
    Sworn

    difficult question to answer. Depends on your finances, investing timeline, and whether or not you can still afford a case of PEPTO Bismal. If you can double your money + alittle extra...AS A-hole Cramer says Pigs get slaughtered. So take the cash and run. Or you could cover your initial investment and then play with the houses money...Or you could simply put a stop loss in place to avoid losing what you have made. Whatever you choose, put your plan in place and try to stick too it. As we all know now, we must have a plan or your really taking a chance with your hard earned cash.

    I currently have 60k shares ave of .75.. I will absolutely be pocketing my initial investment..then play with the house money on a tight leash. I would love to have to make this decision!!!

    Hope this helps.

  11. Ad Fairy Senior Member
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