Market Watch for week of July 20, 2009

[atmgeek1]

who was it asking about SIRI? they are on the standard pre-CC run up

Bass, it was me a few days ago but i'm not sure if that's me your referring to. I was possibly thinking of selling siri to cover other losses and start over but decided after asking for thoughts to keep it. How far might siri run up. Although I'm not sure it matters to me now as a may hold out for > $1. All I have is time with this stock and I'm in no rush, got in @ .1388 so I should not have been stressing at all, I htink I was just bored to death

[billhart22]

O.K., it has bumped up to 9, lets see if it will take. The MM's have had mercy upon us, lol.

[billhart22]

[billhart22]

It is looking good right at the moment...I would love to see a .0012 close or higher today. Maybe that is wishful thinking, but it would be a wonderful day. When the production numbers from the wells come out this baby will sky rocket! IMO.

[bassmaster]

Bass, it was me a few days ago but i'm not sure if that's me your referring to. I was possibly thinking of selling siri to cover other losses and start over but decided after asking for thoughts to keep it. How far might siri run up. Although I'm not sure it matters to me now as a may hold out for > $1. All I have is time with this stock and I'm in no rush, got in @ .1388 so I should not have been stressing at all, I htink I was just bored to death

high 40's, might hit 50.. usually sells off after the CC. that has been the pattern and it seems to be holding so far... the only difference here is whether mel gives a ridiculously crazy positive guidance for Q3 and beyond, then we shouldnt see a retrace. but that option is only wishful thinking.

[Dr. Dave]

Bass, it was me a few days ago but i'm not sure if that's me your referring to. I was possibly thinking of selling siri to cover other losses and start over but decided after asking for thoughts to keep it. How far might siri run up. Although I'm not sure it matters to me now as a may hold out for > $1. All I have is time with this stock and I'm in no rush, got in @ .1388 so I should not have been stressing at all, I htink I was just bored to death

I have SIRI, it looks like it hit the 0.37 resistance twice last I looked, I run about 15 or so charts on it, I don't see any reason to cash out at the moment. I don't read the other thread, and I don't use news too much for trading. Just keep aware of actual earnings dates, and not necessarily make a prediction on what I expect, just watch the price prior. The only other news I paid attention to is that 0.42 option deal that Mel had. That's kind of like an insurance policy - at least to me, but then again, I'm not a newshound, but I haven't lost on SIRI either, but I guess I haven't traded it much either.

[billhart22]

[Dr. Dave]

Dave,

Maybe we ought to make an options school thread where you could take us from the very basics on up. I would love to learn them and I know others would too. We can sticky it.

I just don't know enough about them, but they are fascinating.

Just a thought...no pressure. If it sounds good, let me know. If not, then fine. I am ignorant to options.

Sure, but just to note - I realized that they are so damn complicated, that its best to keep the trades to 1-3 days. That clears out most of the complications when it comes to time decay (meaning you lose a little money every day when you buy a contract even if the stock remains at the same price, and that amount accelerates non-linearly with the expiration date), etc. And that means - you have to kind of be pretty good at your picks. So, just saying up front, that those who like to "hold until it comes back up" will have to learn to cut a loss quickly.

The other thing is, I am a beginner. I did trade through a service before, the guy had an impressive 100% gain *average* per trade last year. As well as 10% on each stock. But, this year, its not so hot, I think he's going ahead of himself. Anyway, I tried on my own for longer term trades and I lost pretty much on all of them, but noticed that within the first few days, I'd be ahead. I then learned a couple of tricks from another options trader that helped timing entries and dealing with volatility.

I think that if you use solid TA, and know a little bit about the company, don't get greedy and wait for confirmation of a move, you can pull it off on short term trades.

[Sean]

its soo hard to be patient i tryed selling my bcle shares because i wanted to buy more mglg but it didn't work, and then i tryed again and it said you don't have enough shares but i did, and then i cancelled it cuz i was like wtf am i doing grrr it sux waiting lol

[billhart22]

I have to find out what is going on with LLBO. It has gone up since I posted the chart.

Any help would be appreciated.