I bought 7,500 shares of Sirius Satellite Radio Inc. [[SIRI]] .
I know the company is lame, but the stock is sitting right at the lows. A break below the lows will be my stop / exit. Rumors are also circulating that the company may get a bid from Yahoo! Inc. [[YHOO]] . So i decided to throw 10K on it.
Normally rumors are not enough to get me to enter a trade, however SIRI presents an easy exit strategy.
Let’s see what happens.
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Wow!
The way I see it 3 cents down, a few bucks up.
I like the risk/reward.
Got some Jan09 LEAPs for pretty much the same reason.
Rumors are often put out by someone who is choking on a position.
That said, you have a clean stop which presents a worthy risk/reward.
I agree 100% Juice, but the clean stop is why I entered the trade.
RIMM is going mad dog postal on shorts. Excellent call!
sometimes I get dirty stops, word of caution:
EW yesterday: stop 60.96 filled at 54.95
FCX today: stop 87.06 filled at 83.xx
so unless you’re just holding it today….be careful rc.
Thanks Garr,
VLO & BWLD also doing well.
I got a dirty stop once, too. Had to go to the hospital afterwards.
Got another one in SKF this morning, got filled $0.40 below the bid on the options. Egregious!
You guys are probably right, exiting half my position at the end of day.
Dpeezy, that is egregious.
I HAVE BEEN BIULDING A POSITION AS IT HEADS DOWN. I TO BOUGHT AT 1.32 I PLAN ON BUYING MORE IF THE TREAND CONTINUES. THE SHORTS ARE KILLING THIS STOCK. IT WILL TURN AROUND. JUST SIT ON YOUR SHARES GO LONG AN ENJOY THE RIDE UP.