I bought 1100 shares of sirus today about one hour before the market close was this a good move?

Question

I think without the competition with XM they will eventually go up. Predictions?

Answer 1

Bad move, because after the merger was approved, Sirius pulled a stock stunt I failed to grasp, and I have learned if I cannot grasp something, STAY AWAY

You can see I am not alone by how the price has done

Speculating is one thing, but stunts, albeit legal, is a no-no to me--Look what happened to the mortgage and banking industry based on financial stunts no one really understood

Answer 2

Wow.... this is a reason to buy a stock?  

I hope you've followed one of the key rules of trading..... having an exit plan....  it should be based on the chart (for price) and time (so it's not dead money).

The chart looks poor at best.  

If your hope is "how much lower can it go".......  that's a horrible way to buy a stock.

A suggestion;

Buy several books on investing/trading.  Making mistakes like this will hurt you dearly.  Even if this stock goes up soon...... there is no indication that this stock is a "buy" right now.  It's really a gamble rather than an investment.

Answer 3

http://money.cnn.com/news/newsfeeds/arti...

Down 10%? Hm.

Answer 4

I haven't kept up with the merger a whole lot, but I thought that the company was going to be under the XM name, not the Sirius name.

Answer 5

It's a bear market.