SIRI Intraday Thread: Tuesday April 21

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Originally Posted by Doctor_G

As far as I'm concerned, "Daytrading" in many ways is a lot like gambling in Vegas or Atlantic City. I applaud the folks who today brought up Uncle Sam, in regards to the dreaded tax consequences which fall upon all daytraders. Once they "Pop" (the Daytrader), on a sell, Uncle Sam is taking his lofty cut...regardless as to what that daytrader does for the rest of the yr in the market. The tax aspect is what rightfully turns most people away from daytrading. I would venture there are more folks that lose their shirts when daytrading then those who actually break even or turn a decent profit. Too risky a venture for my taste.

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I would say Atlantic City, There is no place like Vegas.

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Originally Posted by mogami

Hi, One more thing that gives me peace of mind. I recovered all the cash I put into the market when we hit .28 so since then everything I have done I have done with funds provided by SIRI. I no longer worry when it goes down since I know it will go back up again. Just like Fannie and Freddie. When I see them in the .70's I buy because I know they will see the .80's (or higher) again.
Of course I have been ruined as a buy and hold investor. I have too much fun at night looking for stocks I can make 100 bucks from the next day. I even hate weekends now because there is no action. It's a game and the money is how you keep score.

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Mog - are you on any other general forums? I'd love to chat from time to time about some moves you're thinking about making.

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Originally Posted by stkdn

I doubt it.I don't see any kind of rally. I actually think we are headed back to the 30 cent range.They are short selling this stock to death.Shorts rule again...

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im no expert but .42 has significance, and its acting more like a consolidation between .45 and .40, just like happened in the .35's.

again, no expert, but i understand this to be building support and preparing for the next move up.

if you look at the 1 month chart you will see this pattern.

we should move up to .58 in a few days and possibly .7's before retracing back to .53 and consolidate there.

just repeating things ive been trying to learn....

Make a little note to yourselves here and remember it later,105 mil or so shares traded today,that is brokers and shorter's buying it so they can sell them on the next run up in the .50's and 60's for a profit..

What bothers me today is that it happened on such volume

To me, and I'm no expert either, otherwise I'd be posting to my clients - but 0.44 is the line.... but also, there are some days where the close and highs/lows are more important - I don't think this is one of them.

Looks like a close of .40 is that what everyone is seeing?

this is such bullshit.

What a bunch of stiffs! Mogamai and I are the only ones living in the real world. The commission argument is a dead one, commissions used to be 50-250$ and higher ask your parents. TDAmeritrade is 9.99 not too bad. As for the taxes argument, your ass could be dead in a year. Mogami said it right the score board has only dollar signs on it and yesterday most of this board was holding pompoms for the Arizona Cardinals, sorry Kurt. The point about taxes is well taken but I tend to pay the man when I owe him.

Let me get this straight 400k at .26...yesterday could have sold 350k at .62 with a net of 217k...bought the same shares back today 350k @.42 costing 147k with a difference of 70k take away all the nasty taxes you pay 35% and you still have 45k left, and for that my friend you are a loser, sorry. PHillies suck and so does baseball.

The buy and holders on SIRI are always going to be the losers, especially with the reverse split looming and the shorts chomping at the bit. The argument about a reverse not hurting is garbage, it always hurts. The longs will be dead and the shorts will push this baby back into oblivion. I am sorry if I learned the modus operandi with siri in the past two years, not everybody is that sharp. Good luck because you need it, trust me...I will be selling this pig every chance I get.

I have a close of .41 on scottrade