I am not. I am actually averaging up. If I buy @.13 and then at .14 my cost would be 0.1350. I will only keep buying if it keeps going up. I did not buy any today.Originally Posted by Demian
I may be wrong because I think this issue has reached bottom when it may not but at least I am not trading my self into oblivion.
Siriusowner,
If you are down on your original position and you buy more it is called "averaging down"....
You said that you had XM stock that was converted to SIRI stock and that you were in the red with your position. You told people on this board awhile back that if people were down with their SIRI positions, that they should not be averaging down because the company's balance sheet was so bad.
You said that you bought more and are planning on buying more. It is called "averaging down" when you buy more - adding to your position that is already in the red. You are doing the opposite of what you were recommending to people on this board. You also said that it was safe to buy at .14 and then you said that you told us all that it was going to 10 cents...
I searched and I never found where you said it was going to .10...
Remember I had 2 accounts ?
I am not buying on the same account, I have 3200 shares @ .57 and 1000 @ .13. Although I did avg. it on a spread sheet I keep for tax purposes from .57 to .47. Thank you, I need to correct that. Those 2 trades do not belong together.
You also remeber I said it is going to .10 but then I corrected myself and said buy @ .14
Where's the stock price right now ? Where is it going according to you ? From your comments I gather you are bullish and want the stock to go up.
Why are you complaing then, have you lost any money or has anybody lost any money because of what I have said ? It is impossible to predict an exact bottom and more with the balance sheet this company has... + Everyone want to risk money so now that the odds have improved, it is the time to do it !! Not before when the price was at .40, .30 or even .20
So if one is down on a stock and they open a new account and buy more it is not averaging down?
I don't think so.....
That is a flat out lie....
This is your post on 12/02/08......
"...it will be "safe" to buy at .14 or a little bit above..."
http://siriusbuzz.com/forum/showthread.php?t=1137
And this is your post on 12/19/08......
"I told y'all so... 10 cents"
http://siriusbuzz.com/forum/showthread.php?t=1197
You said you thought it was safe to buy at .14 and THEN you said that you had told us all 10 cents....
Siriusowner,
To refresh your memory, this is also what you told people on this board in regards to averaging down on 11/24/08.....
No according to the IRS. If I liquidate the one with gains I have to pay taxes, if I liquidate the one with losses I can deduct them.
When was that, almost 2 months ago ? Do you expect me to stay with the same position forever ? 2 months ago this was surely not a good investment (as it is today) BUT the odds have improved, a little bit, but nevertheless improved. It is not the same jumping off a 40 story building than off a 1.3 story building. Jumping off the 1.3 story building you have a chance for survival, of course you gotta jump carefully and not mouth first.
Last edited by Siriusowner; 01-07-2009 at 09:32 PM.
It may still go to 10 cents, who knows. The damn company is closer to BK than to be profitable. But if you wanna bet, it is safe to buy @ .14, at least you will not loose the house.
By the way don't bet the house.
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