Sirius & XM: Merger approved but not the market reaction I expected!
Talk about getting blown out of the water today! I expected Sirus (SIRI) and XM (XMSR) to move today, now that the merger was finally approved, but certainly not to crater! I did not think that the market would have such a negative reaction to the needed refinancing – was I ever so wrong before?!?
I just finished reading a very good article by Jack Hough, of SmartMoney, that really struck me. I have gotten way to over confident in my abilities over the last couple of years and was due to get burned.
As reality starts to set in, nauseousness and all, I look for near term future catalysts that might get me out of this mess only to realize their really are none. This is an extremely painful lesson that I have hopefully learned. It will take a long, long, time to regain the losses both financially and to my self confidence.
– Oldest Purchase: $3.70 (-49.1%)
– Recent Purchase: $2.25 (-16.4%)
– Today’s Close: $1.88
…anyone have a tall building I could use for a short time?