Here Schnitzel Man............
Here Schnitzel Man............
Man this stock has been resilient over the past few months. Can't complain about this thing anymore! $4+!!
ONVO making a move too.
Anyone follow AAMRQ? American Airlines....
Denco, I just felt it in my bones yesterday that we'd break upward out of that ascending triangle. It'll be interesting now to predict our next good move.
A comment to Midas: looks like we both might have taken a hit on AMD yesterday. I was up about 11% before their earnings report; now at +4.2% and just hoping this will be the bottom.
PS. I learned my lesson with ONVO a couple months ago when it dropped over $2.00 in very short order. I wish anyone good luck if you plan to play that volatile issue.
Last edited by siriusly_invested; 10-18-2013 at 12:35 PM.
FOX Business Goes Live on Sirius XM
Hi SLY...yes indeed, that feeling was spot on. We have now entered new territory. Not sure if we break up to the 4.18 to 4.22 area just yet but playing in the low $4 area is a good start.
Denco. In general, is using a trailing stop loss a good Idea, I've got one a 6%. . I'm getting the feeling it's a good idea if the stock r eally tanks, but not good if it just hits the stop loss price or just below because of tax liabily consequences... What is the general feelings on stop -loss stategies?
Never use them Sal. I have seen some discussion on them here in the past but have never used them myself. If you manage your positions daily and keep a pretty close eye then I don't know that there would be a need especially if you are very familiar with the equity. If on the other hand you can not manage actively then they can serve as good protection in the case of an earnings miss or Macro meltdown. With a volatile stock or a volatile environment they can be used to take your shares on a quick dip and pop so be careful. I believe Chuck and SLY have used them in the past. Maybe they have some input.
EDIT: For tax purposes I would think not a good idea unless the fundamentals change and the stock is no longer attractive.....At that point it might be time to bail.
Last edited by denco1; 10-18-2013 at 02:02 PM.
I've used Trailing Stops, with some degree of success, but more times than not, I cry in my beer as most often my stop triggers and before I can blink an eye, the stock rebounds and I lose sleep with (EDIT: seller's) remorse. On rare occasions after a fortuitous run-up on a stock (say 20% or more), with knowledge that it might be a fluke, or otherwise I sense it is ripe for profit taking, if I think I could be happy with a 10% gain, then I'll set a trailing stop and be willing to sell if it hits.. or I'm willing to ride it up and take what ever profit might come on a severe dip.......... PS. I usually don't go with a Percentage on my stops...........I feel better calculating what dollar value I can live with (just my preference). Hope this helps.
If you are tempted to use this strategy with SIRI, I think I'm not alone by saying you are really playing a very high risk proposition. At least in times past, it seemed the MMs were lying in wait for suckers like us to put in a stop, and they relish the opportunity to take down the market, reap the benefit of your cheap shares, then methodically let the price rise back to former levels............... If you think you really understand how to use the stop strategies, then recognize there is certain risk involved. GL
PS. As regards Tax Liability, if you happen to be engaged in Tax-Deferred accounts (401K, IRA, ROTHIRA), you can earn all you want and not worry about tax consequences until you withdraw fro the account.
Last edited by siriusly_invested; 10-18-2013 at 02:57 PM.
Sal, here's another thought on your Trailing Stop theory.......... actually in support of something suggested by Denco.
Given the history of SIRI price movement over the past several weeks/months, I don't recall any drastic "take-downs". With that in mind, and given your stated willingness to live with a 6% stop, I'd suggest you keep a constant watch on the price and be willing to exercise a manual SELL only when you fear your trigger point is near.
It is ironic (maybe unconscious) that you mentioned 6% as that just happens to place your trigger point today at $3.81 which coincides with the 50% Fibonacci Retracement............ an indicator to many who are trying to pick the right exit point.
I see you are quite new here on this board. Let me be among the first to say "Welcome". Also, in case you are not aware, there is a very robust pair of charting tools which are free, and you will see them on display quite often here. Stockcharts.com is one which Denco proudly and effectively uses; I also like Freestockcharts.com, illustrated here to show the Fibonacci Retracement on SIRI as of a few minutes ago. Please feel free to speak up if you need help with any of these tools and ideas.
Thanks Denco and Siriusly-invested.. Great advice and input.I've been long siri since $6+ range.. Rode it down to .05 and back up avg. down and up along the way. I've been burned a few times with the stop-loss stategy with the quick pop back up, but over the long haul, I've made some $... ,, I love this forum and the input from all involved.. Thanks again....sal