Decisions, decisions (SIRI)

[abk33139]

So my SIRI is up almost 17% since I bought it. I had planned on keeping this stock long term. I'm not sure whether I should set a goal like 18 or 20% and then sell, hope it goes back down a bit, and re-buy, believing that it will go up more. If I do that, then at least my original investment, plus a nice profit, will be safe. Any thoughts?

Thanks,
Alison

[mrmarket]

So my SIRI is up almost 17% since I bought it. I had planned on keeping this stock long term. I'm not sure whether I should set a goal like 18 or 20% and then sell, hope it goes back down a bit, and re-buy, believing that it will go up more. If I do that, then at least my original investment, plus a nice profit, will be safe. Any thoughts?

Thanks,
Alison

this sounds like a mission for uncle Spike! Come on Spike, help the poor lass.

[spikefader]

So my SIRI is up almost 17% since I bought it. I had planned on keeping this stock long term. I'm not sure whether I should set a goal like 18 or 20% and then sell, hope it goes back down a bit, and re-buy, believing that it will go up more. If I do that, then at least my original investment, plus a nice profit, will be safe. Any thoughts?

Thanks,
Alison

Since you held throught the resistence, and it seems free and clear, I'd hold it now and target an upper channel. Move stop to even sit back with a smile on your face. Don't let emotion - i.e. fear of lost profits, cause you to exit on emotion and miss out on the really extraordinary profits a position like this one can deliver to you with a bit of patience.
Congrats!

[Websman]

$10 upper channel??? Are you serious Spike???

I don't know if I can handle that much cash in my portfolio!!!

This is great!!! That's like 300% for me!!!

[spikefader]

$10 upper channel??? Are you serious Spike???
I don't know if I can handle that much cash in my portfolio!!!
This is great!!! That's like 300% for me!!!

lol Deadly serious. That's where the regression channel has placed itself, so hold on for the fun run!

[Websman]

This is un-friggin-believable!!!

My account is looking good!!

If SIRI hits $10, I'm throwing a party! Beer's on the house!!!

[Websman]

BWAAAAAAAAAAAAAAAAAAAAAAHAAAAAAAHAAAAAAAA!!!!!!!!! !

I AM OVERWHELMED!!!!!

After a down day, news comes out that Mel Karmazin has been named CEO of Sirius. The #$%@ thing has shot up over a dollar after hours!

SIRI could go over $6 by tomorrow. My account is looking very good!

Congratulations to all those who were crazy enough to hold SIRI...

[abk33139]

Woo hoo! As I've said before, I bought this stock to stay in it for a long time - not just until it goes up "x" percent. I believe it will be a big winner long-time. However, last night I was wondering if I should sell and then re-enter if it drops again. After the Mel Karmizan news, I'm psyched that I stayed in. Go SIRI!

Alison

[spikefader]

Congrats on holding!
Check out the channel long today too. I was going to post this in my thread earlier but got distracted. And when it sat down near S2 all afternoon I was going to post it was a good spot to be buying

[dmk112]

Spike, you think its still a buy?

[abk33139]

So, SIRI is up another 10% today. That's almost 41% since I bought (wish I'd bought more than 400 shares ). I keep thinking that if it hits 50% I should sell and then re-enter, but I don't know enough about this whole stock thing to make a decision (if you choose not to decide you still have made a choice). Having to pay $30 round trip for each entry/exit, makes me think I should stay in. Thoughts?

[spikefader]

Spike, you think its still a buy?

Sorry about the delay in responding. Didn't see this post til just now.
Bias is clearly bullish. Timing an entry is the tricky part. If I were long, I'd hold it and target 10.00 with stop to even. I probably wouldn't buy it up here though.

[spikefader]

So, SIRI is up another 10% today. That's almost 41% since I bought (wish I'd bought more than 400 shares ). I keep thinking that if it hits 50% I should sell and then re-enter, but I don't know enough about this whole stock thing to make a decision (if you choose not to decide you still have made a choice). Having to pay $30 round trip for each entry/exit, makes me think I should stay in. Thoughts?

When in doubt, do nothing
At all times when trading, your actions must not follow emotion, but be logical. Don't close it out of fear of losing profit unless that fear is solely based on some logical rule that your system has. You may not think you even HAVE a system, and you may not, but everyone has a plan. Your plan was to hold it for a long time because you believe in the stock. Why sell it just because it's 41% higher, unless you see some reason to take your profits earlier than you said you would.
If it were me, I'd hold it long with a stop to even, and smile. The move is clearly impulsive, so it could very easily continue to rocket up. I see daily channel resistance at 6.50, which is a good target. I see weekly channel resistance at 10.00, which is an even better target.
And if you ARE going to take profit at this time, make sure you do it at intraday resistance. R2 is good. Selling at the pivot or S1 or S2 is bad. Don't do it. Remember that whatever you do, whether you swing trade, long-term trade or daytrade, you want to buy at support and sell at resistance (BASSAR theory) . See my chart that shows the resistance of yesterday's high. That was a good place to sell. A good place to sell now that you've missed that is a test of today's high. Where it is now at R1, that WAS resistance, but it's now support, so traders will buy the yellow support line.
Congrats on a good trade thus far.

[abk33139]

Thanks, Spikefader. You're right - I bought this stock for the long haul, and sticking with it is what I should do. I do think that if it ever hits $10, I'll sell, although I'm a woman and might change my mind. I don't understand one thing in your post (at least this time its only one thing - usually I don't understand most of the posts that have all this trading lingo) - you say if you're going to sell then to sell it at intraday resistance. First, what is that and second, I have the ability to tell my account that I want to sell at "X" dollars. So, does it matter when I sell as long as I sell it for, let's say, $10/share?

As always, thanks for the help.
Alison

[scifos]

Bias is clearly bullish. Timing an entry is the tricky part. If I were long, I'd hold it and target 10.00 with stop to even. I probably wouldn't buy it up here though.

Boy, watching it the past few days makes me really want to get in on it. But really, even with spike's 10 target and clearly bullish, I don't think this is the time to enter (definately the time to hold though!)