Most of my investments are tied up in long term diversified investments but I do keep a separate Fidelity trade account with about $10,000 for basically gambling on the markets. This is a short term or high risk play account that started with $500 so I've done OK to get it up to where it was not long ago.

Enter my last BRILLIANT idea.

Sirius Radio...

Long before when the rumors that Sirius was going to buy XM I had an idea. XM stock was trading about $15 a share and Sirius was at about $3 a share.

My idea was a gamble betting the doubtful merger would happen and thus the Sirius stock would rise somewhere close to the XM price or at least double.

Reality is I've lost about $5,000 so far and I failed to take into account the combined debt of both company's which has pulled investors back.

Now what do I do...Take my lumps and get out or let it ride?