Haha? The day ain't even over yet! I'm a technical trader that makes $$$million$$$ a year. The graphs tells me everything. Everything I tell you. This ship is going down but I just don't have the balls to short. I say get out while you still have legs...but buy C of course.
I used sharebuilder until recently. I'm switching back to TD. Sharebuilder is nice because I use ING Direct for my primary checking, so it was nice to have everything coupled together. However, I have tried and tried to hold on, but lack of stop % losses, $1.50 per contract options trading, no pre/after market trading, no conditional orders, etc. was really killing me. So I made the switch.
However, I should say that sharebuilder is a GREAT way to get started in investing. So if you don't know what a stop % loss order is, or conditional order, or what "per contract" means, I would start with Sharebuilder.
Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
The DOW Jones Indexes have been put up for sale. Goldman Sachs (suprise!) is conducting the sale. ATOT could buy the index and rename it the ATOT Industrial Index or whatever they wanted! 
(Per CNBC)
:laugh:
(Take it from someone who knows, begging it doesn't help it one way or another! )
(Per CNBC)
:laugh:
(Take it from someone who knows, begging it doesn't help it one way or another!
)Originally posted by: Engineer
The DOW Jones Indexes have been put up for sale. Goldman Sachs (suprise!) is conducting the sale. ATOT could buy the index and rename it the ATOT Industrial Index or whatever they wanted!
(Per CNBC)
:laugh:
(Take it from someone who knows, begging it doesn't help it one way or another!
There's 5 mins left. I am pretty sure that it may go down.
Originally posted by: Engineer
Typical rally up from about 3:00-3:45 and then a slight pullback from 3:45 to 3:55 and then a slight runup at the end. If it were a big down day, reverse the above!
Looks like the down leg is due for Monday, not today. Sometimes with technical analysis unexpected developments in support and resistance could occur causing unusual market movements like today. Sometimes these things can be a bit tricky.
IHateMyJob2004
Lifer
- Sep 29, 2004
- 18,656
- 68
- 91
Originally posted by: Engineer
Typical rally up from about 3:00-3:45 and then a slight pullback from 3:45 to 3:55 and then a slight runup at the end. If it were a big down day, reverse the above!
Typical ..... har har
You [people need to stop watching CNBC.
IHateMyJob2004
Lifer
- Sep 29, 2004
- 18,656
- 68
- 91
I get a kick out of you guys. I bought one stock this year. WFC at $14.19.
Up to just shy of $28. A 90%+ gain. Nothing like buying at what I assumed to be a 60-70% discount to intrinsic value. I will sell at $35.
Up to just shy of $28. A 90%+ gain. Nothing like buying at what I assumed to be a 60-70% discount to intrinsic value. I will sell at $35.
Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
Originally posted by: IHateMyJob2004
Originally posted by: Engineer
Typical rally up from about 3:00-3:45 and then a slight pullback from 3:45 to 3:55 and then a slight runup at the end. If it were a big down day, reverse the above!
Typical ..... har har
You [people need to stop watching CNBC.
I didn't get that from CNBC, I got that from watching yahoo finance at work throughout the years. Sure, it doesn't happen every day, but that's the very pattern that happens many days during the year. Something about 3:00 starts it all.
IHateMyJob2004
Lifer
- Sep 29, 2004
- 18,656
- 68
- 91
Originally posted by: Engineer
Originally posted by: IHateMyJob2004
Originally posted by: Engineer
Typical rally up from about 3:00-3:45 and then a slight pullback from 3:45 to 3:55 and then a slight runup at the end. If it were a big down day, reverse the above!
Typical ..... har har
You [people need to stop watching CNBC.
I didn't get that from CNBC, I got that from watching yahoo finance at work throughout the years. Sure, it doesn't happen every day, but that's the very pattern that happens many days during the year. Something about 3:00 starts it all.
Ya, the pattern that happens expect when it doesn't.
Originally posted by: IHateMyJob2004
Originally posted by: Engineer
Originally posted by: IHateMyJob2004
Originally posted by: Engineer
Typical rally up from about 3:00-3:45 and then a slight pullback from 3:45 to 3:55 and then a slight runup at the end. If it were a big down day, reverse the above!
Typical ..... har har
You [people need to stop watching CNBC.
I didn't get that from CNBC, I got that from watching yahoo finance at work throughout the years. Sure, it doesn't happen every day, but that's the very pattern that happens many days during the year. Something about 3:00 starts it all.
Ya, the pattern that happens expect when it doesn't.
Ihate... are you bullish in today's market?
Hi all, posted this in another thread but figured people here would know better:
Wash sales... seems to only apply to losses, correct? So if I am up in my portfolio, and want to pay taxes now on the short term gains I have (to offset some significant short term losses earlier this year), I can sell all of the stock for a $7K short term gain, which will offset a $6K short term loss earlier this year (stupid THMR), buy back the stock within 30 days, and continue holding it, yes?
Here's the two situations I propose:
1) I hold onto the stock that is up now, and it continues to go up over the next few years. Those gains turn into long term gains, and I pay 15% tax. Yet, this year on my taxes, I'll have a $7K short term loss, which isn't offset by anything, so I'll have to wait 3 years (3K + 3K + 1K) to get those losses back on my taxes.
2) I sell the portfolio I have now for $7K profit, completely wiping out the losses I have. I'm in the middle of switching brokerages too, so this would be good because I could move cash and not worry about ACAT. My short term losses (already realized, and no wash rule applies to the losses since I never rebought those stocks back) and short term gains cancel each other out, and I'm left even. I move the cash over to my new brokerage and begin buying again. Yes I lose out on the potential long term gains, but I'm also a bit bearish on the market, and if things drop like crazy soon, I could have even more of a loss to report vs. the potential to break even
Any negatives to #2?
My gut is to sell everything now, to protect myself against the bear market, but also wipe out that $7K loss and start from scratch tax-wise. I may just transfer funds to my new broker at that point (who is going to give me 60 days of free trading) and buy things back.
Wash sales... seems to only apply to losses, correct? So if I am up in my portfolio, and want to pay taxes now on the short term gains I have (to offset some significant short term losses earlier this year), I can sell all of the stock for a $7K short term gain, which will offset a $6K short term loss earlier this year (stupid THMR), buy back the stock within 30 days, and continue holding it, yes?
Here's the two situations I propose:
1) I hold onto the stock that is up now, and it continues to go up over the next few years. Those gains turn into long term gains, and I pay 15% tax. Yet, this year on my taxes, I'll have a $7K short term loss, which isn't offset by anything, so I'll have to wait 3 years (3K + 3K + 1K) to get those losses back on my taxes.
2) I sell the portfolio I have now for $7K profit, completely wiping out the losses I have. I'm in the middle of switching brokerages too, so this would be good because I could move cash and not worry about ACAT. My short term losses (already realized, and no wash rule applies to the losses since I never rebought those stocks back) and short term gains cancel each other out, and I'm left even. I move the cash over to my new brokerage and begin buying again. Yes I lose out on the potential long term gains, but I'm also a bit bearish on the market, and if things drop like crazy soon, I could have even more of a loss to report vs. the potential to break even
Any negatives to #2?
My gut is to sell everything now, to protect myself against the bear market, but also wipe out that $7K loss and start from scratch tax-wise. I may just transfer funds to my new broker at that point (who is going to give me 60 days of free trading) and buy things back.
Yea I don't know. This has been my opinion for a few months. More and more I'm feeling like the sucker for not buying into the rally.
I'm up over 300% in most of my positions. Thinking of getting out of everything and waiting to see if the rally continues up, or if it busts. I think it will bust again, hard.
Thoughts?
I think you at least need to lock in the profit. Take it off the table and reduce the positions to the level of the initial investment.
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