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.