Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: Can Anybody Help Here?

  1. #1
    mrmertz is offline
    Enthusiast
    mrmertz's Avatar
    Joined: Apr 2009 Location: Tucson AZ Posts: 193

    Can Anybody Help Here?

    I'm finding myself feeling, well, I guess frustrated beyond all realm of reality today.

    I mean I (speaking for MYSELF) sit here with all my investment money tied up in a stock (HUGE mistake) that I though had great short term potential. Three months later I'm still not at the break even point. SIRI has not gone bk. AIG has been in the thick of this financial mess and the stock shoots uo to over $19.00 per share overnight? I give up. I'm desperately trying to find a reson not to pull out and take a small loss (which I vowed to myself never to do). In my life though that's how things seem to work. If I stay in, we all might see the market throw us a bone evry once in a while to the tune of a few cent gain every now and then and perhaps in a few years I could make what "my" other stocks that I watch do in a week. Whoopie. If I get out, something will cause SIRI to do what AIG has done and it will shoot up 100 fold. I can hear it now, "Well then get out now so we can make some money!"

    Sorry for my rant. I know, "That's the market. Learn how to live with it or get out." or "You obviously don't have a head for this so I would just take my loss and run".

    I guess I'm looking for more than that though, being a newbie. Any wisdom other than flaming? Guess the way I'm feeling flaming wouldn't make me feel any less of a loser.

    Thanks to anyone, if anyone, who replies. I just don't get it.

  2. #2
    noffke3000 is offline
    Junior Member
    noffke3000's Avatar
    Joined: Feb 2009 Posts: 12
    I'm not a sophisticated investor by any stretch of the imagination...but my simple advise is to be patient if you believe in a stock. Opportunities will present themselves (like SIRI dropping to $.05). Rarely will you find overnight success on a stock because it is too hard to predict without having insider information IMHO.

  3. #3
    imromo24 is offline
    Guru
    imromo24's Avatar
    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    If you have held any of your siri stock for more than a year, sell that and keep some inthe game, you can write off the loss on your taxes this year and play with that money.

    One thing I learned here is have a "core" amount of siri shares. I set mine at 10,000 shares. Yet, since it has done nothing like you said, I have added over 2500 more shares. I also had sold 500 shares to get some money to play the sub pennies and made over 200% on that money, then rebought siri to get back to a full position.

    Sell some, leave some in. Play with that money. If you make money, buy back siri if it still hasn't moved.

  4. #4
    mrmertz is offline
    Enthusiast
    mrmertz's Avatar
    Joined: Apr 2009 Location: Tucson AZ Posts: 193
    Thanks guys.

    I guess it's like I read here once. If you keep looking at the money you COULD have made on other stock moves, you'll NEVER be happy. I just have to keep reminding myself of that.

    Also, as a side note, I'm not a big investor by any stretch of the imagination. I work two jobs with 60 hour work weeks. Every week. I went into the market wanting to be an "active" trader. You know, if I manged to make a few hundred a month honestly, I'd be happy. And I figured if I had to hold long on a stock I would but I guess my idea of "long" isn't what others would consider "long", particularly wanting to be an active trader.

    SIRI is the first stock I have ever invested in.

    Thanks again.

  5. #5
    imromo24 is offline
    Guru
    imromo24's Avatar
    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    no matter how much you invest, if its a lot to you, thats what matters. If $50 is a risk to you, then making $50 should be a nice return.

    If you don't have alot invested in siri, Try ignoring siri and adding 1/4 of that amount in cash and buying another stock.

    Trust me, no matter what you do, hindsight is always 20/20.

    I could have made $$ on this and that is hindsight. Try picking a sure winner today!

  6. #6
    Skivail is offline
    Member
    Skivail's Avatar
    Joined: Jun 2009 Posts: 43
    I also own AIG I am pretty sure (according to my share count) that the stock did a R/S. Can anybody with a little more stock knowledge confirm this? Thanks.

  7. #7
    mrmertz is offline
    Enthusiast
    mrmertz's Avatar
    Joined: Apr 2009 Location: Tucson AZ Posts: 193
    I would think so but I tell ya, I'd pay $100.00 to be in your shoes today. Damnit.

  8. #8
    imromo24 is offline
    Guru
    imromo24's Avatar
    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    aig did a 1:20 reverse split
    Last edited by imromo24; 07-01-2009 at 09:45 AM.

  9. #9
    GoHerdGreg is offline
    Senior Member
    GoHerdGreg's Avatar
    Joined: Mar 2009 Location: WV Posts: 314
    I also got tired of watching paint dry (aka SIRI shares) lately. So what I did was (as has been suggested by others) I sold off about 1/3 of my SIRI shares, took that money and put it in some other stocks.

    Those other stocks went up a little, so I took the profit and put that in other shares.

    So, my advice to you is to sell some SIRI shares (even at a loss you are comfortable with) and put that money in play elsewhere. Voila', your level of frustration is now 1/2 what it was with only one stock (now that you have two stocks).

  10. #10
    SiriusBuzz is offline
    Head Honcho
    SiriusBuzz's Avatar
    Joined: May 2007 Posts: 2,460
    As a general rule and I am not talking about any specific stock. If you think you can get a better return on another stock, it is ok to pull your money out of another stock at a loss. You can't let the thought of taking a loss hold you back from something you believe will give you a better return than the current stock you are holding at a loss.
    Charles LaRocca
    SiriusBuzz Founder

  11. Ad Fairy Senior Member
Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •