Just as a test,I put in a sell order an hour ago, to sell 1000 share of SIRI @$2.71
most positioned in 2.50-2.70. Why buy 2.71, we're just waiting for the spike to sell higher than that. You cannot just test the market with an average mind and theory then conclude. Some investors maybe 10 steps ahead of your thoughts.
I'm glad they were 10 steps ahead, 1k @$2.71, I sold 5k shares at @$2.86 the rest 29k shares @$2.85. I slept like a baby : ) I just bought a few shares back at $2.78 the re-position just saved me about 3k,and it made me about 3k in profit, Thats good enough for me, I'll take it! it will save me Even more if it continues down from here. I do expect new lows, "If" the merger is not done by Monday. It may spike up during earnings "if" they a decent. Then Down hill from there. Will it set a new 52 week low? How low will it go? "if" it hits new lows I will be buying back in! Best of luck to all