SIRI Intraday Thread: Monday April 20

[Big Ben]

bah humbug!

[trippingthespeculatingpos]

http://www.smallcapnetwork.com/scb/f...-dollars/2762/

While terms like “investment opportunity of a lifetime” are recklessly thrown around far too often, sometimes, the description is actually appropriate. Take 2009 for instance… investors really are looking at a once in a lifetime opportunity - at least for a few stocks. (Other stocks are more than deserving of their selloffs.)

We’ll look at five of these unique investment opportunities below, but first we need to set the stage correctly.

Yes, the economy is still wandering listlessly in a recession, and yes, it’s difficult to say how long this weakness could linger, and yes, many individual companies are still fighting an uphill battle. So what’s supposed to be encouraging? Your opportunity doesn’t necessarily lie in the arms of gangbuster performance right now. Rather, your opportunity lies in realizing what the rest of the market doesn’t quite ‘get‘… that you own stocks not for their present value, but for their future value.............................

[Daniel]

Hey keysmark, I did the same last friday, I covered 35k at .10.
Earlier today it did trade at .20 , my first thought why didn't I wait till today, but now it is back again. I consider this as kind of insurance.
My only concern is the r/s, I have no idea what happens to the options in that case and/or the SP.

First, some background. I own 100,000 shares representing my core position, not to be touched.

I have also been swing trading another 50,000 shares. Twice I have sold my trading shares at around 39 cents and bought back around 30 cents successfully. The last successful trade was when I sold at .3934 when the stock broke up to .42-.43. I then put in a GTC buy order at .3013. It was filled when the stock spiked down a couple of weeks ago to 25 cents.

At the end of last week, I tried it again, alas. I sold at just under 45 cents when it looked like it would not break thru, and promptly watched it close at 50 cents, and today go to 63 cents. While I am happy to still have my core position, it looked like I screwed up.

So here is what I did! I placed a Buy/Write order on Ameritrade with a net debit of 42 cents, with the stock coming down towards 52 cents and the Sept 09, $1.00 call option selling at 10 cents. When the stock hit 52 cents and the call still at 10 cents, I was filled. Basically, I bought the stock at 52 cents, and received 10 cents selling (writing) the call, for a net cost to me of 42 cents.

What do I gain, and what do I lose?

I own an additional 50,000 shares of SIRI stock.

I am entitled to all the gain in the price UP TO $1.00 per share.

If SIRI goes up above $1.00, the sock will be called away from me and I will be entitled to NO further gains above $1.00.

However, if SIRI DOES NOT get above $1.00 by the option expiration date in Sept (3rd friday) of THIS year, then I get to keep the stock with no further obligation on my part, along with the $4700 I received in option premiums (after commissions), having bought the stock at a net price of 42 cents.

Cool, huh.

Keysmark

[Big Ben]

Does anyone understand the complexity of this disease? Ramsey good work on hitting the sell button, the stock was up 20% in one day! That to some should not sound so shocking but it does! I hate to come down on you though Rammer, so your telling us your gut and some charts and some articles about Clear Channel made you do it? Are you sure it wasn't a tip from a taxi driver? People make crazy connections with stocks and there gut, cracks me up.

[Ramsey]

Thanks Big Ben - I will be keeping you in my thoughts, too.

have a lovely day...

Ramsey

Does anyone understand the complexity of this disease? Ramsey good work on hitting the sell button, the stock was up 20% in one day! That to some should not sound so shocking but it does! I hate to come down on you though Rammer, so your telling us your gut and some charts and some articles about Clear Channel made you do it? Are you sure it wasn't a tip from a taxi driver? People make crazy connections with stocks and there gut, cracks me up.

[Dr. Dave]

Hi -

I'm Ramsey's buddy with the charts - I have to thank him for bringing up SIRI last tuesday/wednesday. I took a look at the charts and it was pretty much a dream chart, so I got in on Thursday at .38 and held until today - there were multiple targets on the high side - so today I actually got my butt up at 5:16 am, went to his garage, we set up "the trading room" - 3 laptops and a big screen - once the minimal target of 0.56 hit, we got ready to sell. His brokerage didn't allow trailing stops, so he patiently got the 0.60 manually, I set the trail when the price hit 0.60 and got 0.62. Anyhoo - I made enough to maybe get a SIRI setup for the pickup, and some cash for another trade when the opportunity arises. So if anything - you may end up with a new subscriber, which is good for sales!

Thanks Mr. Ramsey!!!

[Dr. Dave]

191 mil shares traded and it gets painted at .48 at close down .07 from open.
it will be flat and low vol tommorrow,could retest .42...IMHO

I got 0.44, 0.43 and 0.39, then the big daddy of 0.35 for tomorrow (at least for lows) - but those are muddy - so not playing - today's uppers were pretty clear. My tea leaf hocus pocus IMO TA.

-disclaimer - I'm wrong all the time.

[JohnnyIrishXM]

Predictions for tomorrow? Demian? Irish? Tripps? Big Ben? Lets go guys, lets think this out. Who was watching level 2. Where did you see the big buys? I saw a ton around .52 to .54. They might use those shares to hold .56 as the resistance point. If id seen those big buys at .58 or .60, I would assume they would use those to sell at .63, to support that resistance level. Heres my way too early range prediction now. .56 to .45. You may see both sides broken, but not by much. .62 is simply the 200 day, and as it moves closer to .56, that will be the next TA catalyst to take us higher. Must happen before CC however, or the CC takes precidense.

191 mil shares traded and it gets painted at .48 at close down .07 from open.
it will be flat and low vol tommorrow,could retest .42...IMHO


But i did see some big blocks at .48 and .49 also,but low vol is key and you know what they do with that.they shook out all the .63 and under profit takers today.
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[trippingthespeculatingpos]

i wouldnt be suprised to see alot of buying in the morning and this thing get back in the .50's easy.

[Jworld]

Im a little upset i didn't get out today at around the .55 to .56 range but what the hell, the pps is a whole lot better than .05 a few months ago. Im in it long anyways...................