I Think I Can… I Think I Can…

Search Amazon

Sirius Stock Advice: SIRI

Published August 4, 2009 - 0 Comments

Stock advice?  Hahah…  are you joking?  I wouldn’t have the faintest clue where to begin.  Take a look at my bank account!  Umm.. no, better not!

I decided to get back into the stock game (yes, it’s a game… of that I am sure) back in the spring.  I was interested in dabbling in it and trying to learn a little bit, but obviously I wasn’t about to commit the vast fortune that exists only in my dreams.

I chose Sirius XM Radio for really only one reason.  It was a holding of someone I was interested in, and it gave us something else to talk about.  I’ve never really been sold on the whole subscriber radio idea.  I couldn’t understand why someone would want to pay for something that they can get for free, but after listening to it on a couple of occasions, I could see the benefit.  There certainly is more variety, and you don’t have to worry about moving out of range of a transmitter.  I imagine that it has its technical limitations at times, but I can’t comment on those.  It seems solid enough, but I don’t foresee myself ever paying for it.

Back in January their stock traded at $0.05 at one point. By the time I had decided to throw my money into the lottery, it was up to $0.399…  and promptly fell within minutes of my purchase.  Oh yes, it gave us something to talk about.  I told her that she owed me about $50 the first day! Over the next few weeks I saw it go as high as $0.50, which was nice except that I needed it to go even higher before I could overcome the $30 trading fee.  With the small amount that I was willing to “invest” (*cough* *cough*), a $30 trading fee was a major obstacle.  So I held onto my 1050 shares of Sirius XM and then watched as their value plummeted again.

I can see now how some people are able to play on the whole cyclical nature of the stock market.  If you’re good at it (which I am not) and can pinpoint the natural rise and fall of a few consistent stocks, I can see how you might be able to pull it off.  I know people who appear to be comfortable with doing just that.  But for me, it was a chance to try to learn something not only about the nature of the market, but also of human nature.

I’ve been itching to sell that stock for a couple of months now.  I’m still interested in learning more about the market, but my floundering Sirius shares have been a constant reminder of my floundering in other areas.  I was willing to dump them for pretty much any price, as they’ve been in the mid $0.30 range for most of that time.

Then suddenly last week they began to climb back up again.  There seemed to be a resurgence in all markets.  I don’t know if they’re going to hit the $0.50 point again or not, but I wasn’t about to hold onto them to find out.  I was happy to get rid of them at $0.4662, although I see today that they closed at $0.4751.  Now watch as they shoot up to over a dollar, which is exactly what I was told would happen back in the spring.  Eventually.  And considering that the 52 week range is $0.05 – $1.52, it might very well happen.  I just didn’t have the patience (nor the desire) to hold onto them any longer.

Good riddance.  Sirius-ly.