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Sat Sep, 17 2005

Online Stock Trading Pick Sirius (SIRI)

Posted at 12:31:20 AM in Stocks & Investing

I lost a good chunk of change a daytrading few years back on the stock market. The dotcom bubble burst and the economy took a big hit, so I took a hit as well. That left me a little gun shy from the whole online investing game. But on a recommendation from my cousin I bought a bunch of shares of Sirius ( stock symbol SIRI ) with my Ameritrade account. My cousin pointed out that Sirius has a deal to do broadcasting for the NFL football games and that Howard Sterns popular radio show would soon be moving exclusively to Sirius around the end of the year. It made sense to me so I bought in at $6.62 a share a few weeks back. It's already jumped almost a dollar a share. I'm hoping it will jump some more once Howard Stern's show moves over to it. We'll see how it turns out.

One stock I wish I had held onto was Sonic Solutions (SNIC). I bought it a few years back at just under $3 a share. It gradually climbed to $11 a share and I sold it and recouped some of my loss from the other stocks that didn't do too well. I saw today that SNIC was trading at around $20 a share.WOOF! Wish I held that one!! But I did make a decent profit so I can't complain too much. But at the same time I don't want to calculate how much I could've made on it.

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