I bought Siri (sirius) at $2.92 and sold it for $7.52 last friday. So I made about $4.50 per share..... pretty nice for a 4-5 month investment.

Of course today it will open at about $8.50.

It has a market cap of like $10.5 BILLION!!!! that is NUTS.

XM (the bigger satelite radio) has a market cap of like $7B.

I am glad I made some $, but pissed I guess that I bailed out too soon.

 

Don't look back after you sell. I sold a 1000 shares of a company that looked like it was in trouble a few months ago at a fair profit. A few weeks later it was up over $12. Oh well.

I also held on to almost 800 shares of a company that went up to over $50 just before a down turn and going belly up. I've got 2 more years of write offs for that screw up.

 

That's funny you mentioned Sirius. I bought SIRI at $2.19 on 12-19-03 and just put a stop limit of $8.00 on it.

FWIW, I know how you feel. I've done it in the past and I'm sure I'll do it again in the future.

 

there's always better opportunities. don't look back. i could've designed windows but i was skateboarding.

 

AHAHAH.. that stupid thing is over $9.00 right now.... so in 2 days I missed out on $1500.....

I don't get why it continues to go up so much.... i think people just like it because it is fairly cheap per share, although there are a zillion shares outstanding.... Market cap is now about $12B!!!!!!

 

Will Rogers' advice for making money in the stock market:

Buy some good stock, wait for it to go up, then sell it. If it don't go up, don't buy it.

 

I'd rather buy stock and make a little profit than miss out completely.

 

...the power of howard stern

 

well Scot, you should be feeling better after SIRI's dive today. I hope everyone in the "make $ off of stocks thread" had their stop loss orders in place.

ya know what's worse than selling a stock and watching it go up? buying a stock and watching it take an immediate dive. just about every time I buy a stock it immediately takes a dip for several weeks or months... if not a permanent downward dump. I swear I must be cursed.

I just recently learned to implement the rule-of-thumb to put in my stop loss orders right when I buy the stock and keep adjusting them upwards as the stock climbs, otherwise known as "Sell your losers, but let your winners run." and if it sells, it's automatic and detached from emotion. even still, as what happened recently, a good long-term holding of mine dipped and sold... it went up for a bit and I was pissed that it had sold... but soon after, it took a dive and is actually well below where my stop sold it at. which helps ease the pain.

I've learned the lesson of using stop losses the hard way... lemme show y'all something I like to call, "The Lesson of WAVX"

check this stock graph out. see that little plateau in mid '98? that's when I got a hot tip on this stock. I bought in at around $4. (see that tiny dip... that was right when I bought-- it went down to like $3 for a month or so )

see that chart go from $4 to $50? I rode that wave... bought/sold a little bit but essentially rode it (same overall stock valuation in the end, $4/share purchase price). I remember it hit $50 and I told myself, "When it gets to $100/share I'm going to sell out and buy myself a sick-ass Porsche!!" soon after... well, you see what happened.

I only sold this stock very recently... for a loss.

oh yeah, see that blip where 150mil shares were traded? I bought some there too and ate a bigger loss.

and... here's the thing-- I really think the underlying product is a great one! but it just isn't being implemented widely.

sorry for the long post, just felt like venting.

 

I'm a firm believer in SIRI, got in the low $1.00s.......

It was downgraded by S&B and that other brokerage probably because they weren't involved in the stock's upswing. It dropped $2 a share, and they'll buy in later, all of coarse IMO.

I hate selling, but my advice would be to hang tight for a while.