Monday, March 13, 2006

SIRI

Today I dumped another $250 into my E*trade Brokerage account to buy 50 more shares of Sirius Satelite Radio (SIRI) bringing my total up to 200. I bought my first 50 shares at $3.10 about 3 or so years ago prior to Howard Stern signing on. With the acquisition of Stern my shares soared to $9.00 and I was addicted like a crackhead. The stock then began to level out and eventually hit $5. At $5 I bought 50 more and the stock went to $7.....like a moron I again did not sell and held the bag down to $6.00. At $6.00 I bought 50 more bringing my total to 150 shares with a dollar cost average of $4.88. So when the stock dropped below my cost average I contacted my buddy at Merril Lynch, who had recently explained to me he would punch me if I bought anything else without consulting him and with his approval I bought 50 more. Based on the charts of my financial past I foresee a downward trend similar to when I compiled 500 shares of Calpine Corporation (CPN) and they went bankrupt. Sorry Howard.

1 comment:

D-D said...

As I predicted my purchase of SIRI stock has caused a horrendous downslide. It is truly amazing the effect 50 shares of stock can have when I purchase them. Perhaps I should start shorting stock. It could be my calling!