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Thread: In for the Longhaul? Sirius XM

  1. #1
    bwebbman is offline
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    Joined: Apr 2008 Location: North Carolina Posts: 16

    Unhappy In for the Longhaul? Sirius XM

    At the risk of being beaten and battered buy the list I am finally getting to a place with Sirius XM that challenges my stock market savvy and wisdom. “To go short term or stay the course”. I’m looking at a 95% and 97% loss and have held since 3/10/2008 and 5/31/2006 with total holding of 15,000 shares. I’ve mentally written off Sirius XM. If I start selling and buying I feel I could regain a few bucks.

    No need to say, but (disgusted with Sirius)

  2. #2
    buddylee is offline
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    Joined: Jan 2009 Location: Shreveport, LA Posts: 74
    I feel your pain. I was in for the long run as well and I am holding 33,580 at 1.46 average. Mostly because of my Xm holdings from the pre merger levels. I have averaged down over the last few months and I know I could easily rasie my position but as of late I have lost faith. However I will not sell my position, It's all or nothing at this point. I just don't have the energy to trade any position. It looks like buy and hold may be dead in the water for a while.

  3. #3
    relmor2003 is offline
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    Joined: Oct 2008 Posts: 1,937
    I would suggest to both of you to take back control of your position, and average down here accordingly. Maybe wait to see if .11 holds, but thats it. Your not doing yourself any good holding such a high buy in with so few shares. Buying just 10000 shares at .12 cents puts you way under $1, a chance to break even for sure. Were you are now, it might not happen before the ineviatable R/S. Give yourself both a chance. Limited risk at these levels. You can put in a small percentage of what youve already lost right at the source of the problem(sp is low, its hurts, so buy here and average down huge.)
    I was over 2.34 average. After selling out, rebuying back etc... I need just .84 cents to be even now. I have a fighting chance at those levels. I see fair value 1.50 for this stock(once 09 debt removed, etc...)

  4. #4
    buddylee is offline
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    Joined: Jan 2009 Location: Shreveport, LA Posts: 74
    I completely agree but It's either pay uncle sam or buy more and average down. I would much rather average down but what good would it do me if I had to pay interest and penalties to my favorite gov. entity.

    Fair Tax supporters unite!!

  5. #5
    bananaz is offline
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    Joined: Jan 2009 Posts: 220
    Relmor is correct. I averaged down twice this year and have my average down to 0.2365/share and am content to hold with that.

  6. #6
    bwebbman is offline
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    Joined: Apr 2008 Location: North Carolina Posts: 16

    I bit the bullet

    I just purchased 40000 shares at .14 and I'm now down to an ownership of 1.16 a share. Time will tell if this is a good decision or I just pissed another 5600. down the drain.

  7. #7
    trippingthespeculatingpos is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    god it makesme cringe when i hear people who have over a dollar avg, man they have been so ass raped and it should of never got this low if the ****ing goverment could of handled the merger properly, plenty of reasons to be angry at our ****ed up goverment, i would get rid of all the congress and start over, they suck so fkin bad.

  8. #8
    Paratrooper_Rick is offline
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    Joined: Feb 2009 Location: In the trenches taking aim Posts: 634


    I'd be insane if I were in the position some of you are in - and I am hugely sympathetic for anyone averaged over a buck with SIRI. I was lucky with SIRI in that I didn't buy in til late in the game. I'm sitting at just 10K shares at .13 right now. I wish you guys the best as things go forward. Hopefully your patience will end up paying off with a vengeance... who knows...

    Tripps?? can you do me a favor - it appears yahoo is blocking me again - thanks to islands over on their boards... could you pls let the longs over there know I wish them the best. I am at a loss now - two days running and I was only able to get in til around the time the anouncement came. (then strangely - all the bashers entered the board and I was evicted.)

    I need to read up on the R/S scenario - since that seems to be my next concern - don't we already have a thread ongoing for that?

  9. #9
    buddylee is offline
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    Joined: Jan 2009 Location: Shreveport, LA Posts: 74
    I used to buy a stock and only look at it when I got my statements. That was untill after Siri started dropping like a rock. Now I watch this damn thing everyday. But sooner or later I'll be back to just looking at statements. Buy and Hold will be back eventually.

  10. #10
    mogami is offline
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    Joined: Mar 2009 Posts: 422

    buy and hold

    Hi, Buy and hold will not be back till Dow is over 10k again. You need to trade. you can buy and sell same stock 3 times in 5 trading days. Nothing wrong with selling when up and buying when low. No stock goes up up up protect your money. Pay attention. learn whats going on. Don't be a piece of driftwood.

  11. Ad Fairy Senior Member
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