And owned 20100 shares at .1395, what would your sell targets be? Im only asking because you all know alot more then me, so why not ask. lol
SIRIUS XM SATELLITE RADIO FORUM
And owned 20100 shares at .1395, what would your sell targets be? Im only asking because you all know alot more then me, so why not ask. lol
i'd say, hold till you retire, or really need it
for a crisis or emergency because you've got nothing else
nisvan has the right idea but for me i want to try and sell at the most i could possibly get for it, so im holding out for at least 10, go ahead and laugh but it is possible long term. sirius stock has been worth more than that in the past when the company was worth less.
Last edited by trippingthespeculatingpos; 02-03-2009 at 09:50 PM.
True Dat Tripp ahahahah!
Generally the best bet when dealing with companies such as this is to sell 10-20% of your holdings after a large spike up and take profits. You are basically at 0.14. Lets say Sirius spikes up this week on refinancing news to 0.28. Sell 20% of your shares, and collect the profits. Then, wait for a pull back to buy some back. If there is no pull back and the stock doubles again, sell another 20% and wait for the pull back. By this time, you will have almost covered your original investment, you will have still have 60% of the shares you had originally, and you will be playing with borrowed money basically.
i do not prefer that method unless you have 50,000 shares or more at .28 cents with 10000 shares and a 15 cent avg that would only be 260 profit to sell 20 percent at .28 cents and then that 260 becomes 240 after i sell and buy back. maybe round .50 to 1.00 i would sell a little and wait for a pull back but thats just me.
Last edited by trippingthespeculatingpos; 02-04-2009 at 02:20 AM.
Well tripping, let us do a little bit of math.
I am going to round the shares and cost basis for easier calculations. He has 20000 shares at 0.14. Total cost of $2800.
If Sirius doubles to $0.28 and he sells 20% (4000 shares), he would bring in $1120. He still has 16000 shares, and his cost is now down to 1680.
Assuming that there is no pull back and he does not buy any more stock, the stock again doubles, now going to $0.56. He sells another 20% (20% of original stake, again 4000 shares). This would bring him $2240.
He now has 12000 shares left, and has completely covered his original investment and actually profited by $560. Ok, take out $10 for each transaction, and he only made $530, including the original trade fee, but still has a lot of shares...
i know that is a conservative way to insure you will profit off a increase in pps, but id hate to have less than 10,000 shares when this thing goes over a dollar which in my heart of heart's i think it will, im alreaqdy upset that i only have 10,000 hahah so id hate to sell more before the really big payoff. I use your method with other stocks were i am trying to make profit be they small or big, but with sirius im aiming really really high.
I understand that, and the method has to be modified for most stocks. (Most stocks you cant wait until they double or quadrupal to take profits.)
The great thing about Sirius is that the price is SOOO low. It will have huge gains on limited information, and huge losses on even less. After a nice spike, a pullback is inevitable, in which you can buy the same number of shares you sold and keep some profit, or buy even more shares at the reduced cost.
This is a technique that I plan on practicing with Sirius to the T. I will sell off 20% after a double, and wait for a slight pullback and replace those shares. Using the above example, I will sell 20% at 0.28, then buy back once it retraces back to about 0.20-0.23.
i do see the benefit but the risk is missing the timing and not getting a lower buyback point, i might be tempted into doing this with siri cause of the prospect of adding more shares.
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