So i gather then that you are shorting it?
Thanks for the advice, but no thanks. Shorting is not part of my strategy.
I will be looking to pick up more below .80 and if necessary below .7O.
Should be interesting to see where it heads in the next weeks.
Last edited by Sirius Roadkill; 03-01-2010 at 09:22 PM.
Is that what you are doing SR? If everyone knew this would absolutely happen wouldnt we all have sold at $1.13 or so? lol
So If i wasnt clear, i am not quessing what WILL happen just saying what i will do if it happens.
And an obvious yes to your rhetorical question . . if we "absolutely" knew what would happen we would all have sold at $1.18 and would only buy-back at the next bottom which we would all know well in advance . . . but of course there are no "absolutes"
But what we do know with a fairly high degree of certainty is that the share price will ultimately be higher in the near term than where it closed today . . . so for those not inclined to sell and buyback, adding to your position here also takes advantage of today's volatility . . . as your "what if below $0.80" scenario may never actually happen, right?
So, no disrespect at all to your investing strategy intended . . . just trying to mop up some of the pessimism that I saw today
As you know, I do not daytrade . . . but I do maintain a small overcore to try and profit from the information gained here and at other sites . . . and yes, it does require some reading of the tea leaves and a little gut instinct! For me, today's trading activity is clearly about "technicals," is only temporary and has nothing at all to do with the fundamental metrics of the company.
And of course I do not preannounce my overcore trades or the subsequent result because, quite honestly, there is no way for anyone here to verify anything I say . . . so it is little more than hot-air!
Last edited by Sirius Roadkill; 03-01-2010 at 10:51 PM.
I didnt take your comments personally at all SR. The problem with posting sometimes is one really cant always decipher the exact tone of the comments. i was trying to be a little playful while explaining what i might be doing in the future with SXM. I appreciate your thoughts and your attempt to be helpful. You always make good points.
Wow is anyone watching level 2 on siri, oh my small lots flying through, just got smacked, biggest position is at .82 200k. Craziness!
Buy and hold is lying in the middle of the ring with a bloody nose, man I am glad I started a position near a buck, sweet...Mel wins again. I have got to stop believing in this pig, I did say pig and its wings look tired!