SIRI Intraday Thread: Wednesday April 22

[relmor2003]

sxm: Are you trading with your entire holdings? That is your key mistake... of course, I don't know what your financial situation is. If you do not have a whole lot of shares, it is best to buy and hold. I would never want to trade my entire position for exactly that reason: It is too difficult to call tops and bottoms.

If you have a decent sized portfolio, then just trade your position in 20% chunks. And come here for advice on buys and sells, but remember to DYODD.

I learned the core thing from a long time trader a while ago. After seeing him in action for a while, I was hooked. Then I saw how effective using it with SiriusXM can be as well. Cos and sl62 really hammered the core point for MONTHS now. John...Newman.. Me...John....Brandon... I think we all trade arounda core, but it was bought for pennies. If you dont have a low core? Start one at .40(yesterday), or .42. Today, you might just have to hope it hits back to .42. Anything higher and your core might go underwater for a bit. If you dont care about that, then go for it. If your a gambler, put a buy in at .36 and see if it hits.

[airman]

Here we go again.

If Sirius gets above where I bought it last and I sell again and then chase higher, I could have even less shares. By the time Sirius gets to a dollar, I will have no shares left.
My strategy to sell high and buy more lower keeps backfiring because I don't sell near the top of the run, then feel I messed up, buy back slightly higher with less shares and then the drop. Example, sold at .50 after buying in at .33, then bought back at .54 afterr seeing it go as high as .63. Well you know where it hit yesterday .40.

My life in this stock - anyone else make the same stupid moves ?

With patience I could have got back in at .40 cents & screwed up royally once agan.

It looks like we will creep higher again to .low .50's again over the next few days. Then I suppose we could either get a big move up into the earnings call or may have to wait for the release to see a significant move.

You and other would be day-traders of this stock ...think about doing this:

Buy the shares you want to buy by evaluating personal risk and figure out what you think the stock should be worth. HOLD them till the 80% mark of that number and re-evaluate..(of course re-evaluate on any substantive news)


In your mind buy 100k shares in your mind ... on "paper" do your day trading. Do this for at least a month. When you have a month(hell even a 2 week stretch) where you are 60% daily gains AND an overall up and also up compared to if you had just held. Then "consider" doing "some" day trading. Wade in slowly.

I wasn't singling you out, but part of the problem in this stock is too many retail investors that are trying to "trade" their way to riches. Most won't. Most will trade their way out of possible solid gains. This is the plan of the smart"er" money. They want to take it from you.

Of course do what you want but the above is a good exercise and will open your eyes a bit. I know there are some sophisticated investors here that know alot more than me also. Just an exercise for us less seasoned investors.
Oh and if you do day-trade then use the above method .. hold a core when it is stocks that you feel will rise over time.
As relmor says .... best of both worlds

[imromo24]

yeah tripp, your LONG card has been pulled

[Gallep]

Ha Imromo, your avatar cracks me up. Do you update it evey market day?

[imromo24]

lol, yes-ish, thanks

[imromo24]

Daily mantra has a check mark...

I have a check list for selling....not until the following are met:
1. iphone app released
2. synergies realized
3. although #2 is synergies synergies is one thing, but having 2 times the bandwidth WHO-AH!
4. Liberty media...i think we just had 2 mergers in the last year
5. When Mel and company say "We are profitable"
6. Economy turns around (i think its happened but ill wait until its announced, and then wait at least another quarter after that announcement)
7. Auto industry posts better numbers
8. ARPU...up up and away

http://www.forbes.com/feeds/ap/2009/...ap6321491.html

Ahead of the Bell: Goldman upgrades Ford, autos

[trippingthespeculatingpos]

thats not fair cause most of my shares still havnt been touched

[Newman]

I learned the core thing from a long time trader a while ago. After seeing him in action for a while, I was hooked. Then I saw how effective using it with SiriusXM can be as well. Cos and sl62 really hammered the core point for MONTHS now. John...Newman.. Me...John....Brandon... I think we all trade arounda core, but it was bought for pennies. If you dont have a low core? Start one at .40(yesterday), or .42. Today, you might just have to hope it hits back to .42. Anything higher and your core might go underwater for a bit. If you dont care about that, then go for it. If your a gambler, put a buy in at .36 and see if it hits.

My core is the shares I purchased at 0.058 right in the middle of the BK scare. Since then, I have never touched my core. It is true that I have lost some gains by day trading. The initial spike up, I sold a chunk at 24 and then another chunk at 32 during the spike up to 38ish? It retraced and I was able to buy back at 27, meaning I lost money on the 24 shares, but made money on the 32 shares. This latest spike, I did not expect to see 63 so quickly, so I placed a sell in at 55. Of course, it hit. Luckily, I was home watching the trading that day, and set another chunk to sell at 62. Bought all of those shares (and then some) back at 42. That was a nice gain.

For those looking to start day trading: DO NOT CHASE THE STOCK UP. If you don't know exactly where it is going, wait until it gets there, don't try to beat it there. This stock has some pretty predictable trend patterns. Learn them, live them, love them, but don't TRADE THEM until you do know them. Learn the slightest bit of technical trading or find a site that will give you the information, or even come here and usually people are mentioning resistance and support. Use those numbers to help guide your trading patterns. And for god sakes: DO NOT DAY TRADE IF YOU ARE NOT THERE TO WATCH THE TRADING!!

[underway]

Daily mantra has a check mark...



http://www.forbes.com/feeds/ap/2009/...ap6321491.html

sweet! glad I bought Ford at 2 a few months back. wish i bought more, of course!

[mogami]

DO NOT DAY TRADE IF YOU ARE NOT THERE TO WATCH THE TRADING!!

Hi, Yes the main thing a day trader needs is the ability to actually watch the market from open to close. You have to keep your finger on the stocks pulse.