***Official*** 2009 Stock Market Thread

[KDKPSJ]

Originally posted by: manlymatt83

Originally posted by: hiromizu
all these suckers are still buying into the rally. just you wait. please

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'd sell few to bring down my cost base to 0 and let the rest ride. That's what I am doing. I don't care if it's sucker's rally, or real recovery, or whatever. I am buying, letting it go up, sell few and let the rest go.

I am also up enough since I changed my side to bull (was bear back in April thinking there would be correction. You know how it hurt) and I don't mind even sudden 20% drop in my whole portfolio. I am not going to fight the trend, I will ride it on.

 

[Cal166]

Originally posted by: SandEagle

Originally posted by: Cal166

Originally posted by: SandEagle
what do u guys think of GFG?

Congrats if you picked up some.

picked up 11K @ .23

i mentioned HTDS earlier. made ~ 7K off of it...

Hope you sold GFG last week...

 

[SSSnail]

The bull run on financial lately is just that, bullshit. (Yes, I'm just ranting because FAZ dropped like a rock for me, note to self, never buy on Thursday).

 

[hiromizu]

Originally posted by: manlymatt83

Originally posted by: hiromizu
all these suckers are still buying into the rally. just you wait. please

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'd be pretty darn content with 300% profit. Think of it this way, if you made 300%, other money managers did too and they'll take in the profits. When the smart money moves, it MOVES. Otherwise if you still think the stocks are undervalued, continue to hold or buy more. If it's hot though, get out.

 

[vo]

Originally posted by: manlymatt83
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.

Well, it depends on your take of the market to pick either 1 (bull) or 2 (bear).

Now let say if the market will be sideway till next year then your situation would be:
- short-term loss deduction of 3k
- reap the benefit of long-term gain on 7k (but only the delta between long-term and short-term) --> but you still have to pay the long term gain but I think the short term loss dedection will offset it.
- short-term loss deduction of 3k for next year and 1k for a year after that.

So if you are not hiromitzu then hold on to it.

But if you want peace of mind (but still want to keep the stock) then sell it and watch for a lower reentry point (wash sale would not apply).
Another option is to sell the stock and buy 70 call deep in the money.

 

[manlymatt83]

Originally posted by: vo

Originally posted by: manlymatt83
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.

Well, it depends on your take of the market to pick either 1 (bull) or 2 (bear).

Now let say if the market will be sideway till next year then your situation would be:
- short-term loss deduction of 3k
- reap the benefit of long-term gain on 7k (but only the delta between long-term and short-term) --> but you still have to pay the long term gain but I think the short term loss dedection will offset it.
- short-term loss deduction of 3k for next year and 1k for a year after that.

So if you are not hiromitzu then hold on to it.

But if you want peace of mind (but still want to keep the stock) then sell it and watch for a lower reentry point (wash sale would not apply).
Another option is to sell the stock and buy 70 call deep in the money.

That's the thing - if I sell at a PROFIT, and not at a LOSS, then I can immediately buy the stock back, correct? So if I sell all of these stocks, the market tanks in 3 days, and I buy everything back, and then it tanks more and I sell, I can deduct those losses, because my previous buy/sell was a gain. Correct?

Are you bullish or bearish on the market? Suckers rally?

 

[vo]

Even if you sell for a loss and the reentry point is lower then it is not a wash sale.

lol ... you dont want my opinion since I think the market is a zero sum game. Playing the market is just a calculated gamble but it is so fun and addictive ...
But since you ask, I am always bullish on the market. The bear market is just 'correction' ... sometime it is a longgggg correction ...

 

[endervalentine]

Originally posted by: Kntx

Originally posted by: hiromizu
all these suckers are still buying into the rally. just you wait. please

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.

likewise, was tempted to just dump everything into a index around may with the slight bump in the market but held off thinking it was going to have a huge drop something late summer but it just keeps going

been sitting and waiting on the sidelines like a fool!

 

[EGGO]

Guess it's time to get into it. I'll have to look for a reliable online broker now that I've read what I can about it.

 

[manlymatt83]

Originally posted by: EGGO
Guess it's time to get into it. I'll have to look for a reliable online broker now that I've read what I can about it.

I can refer you to TD Ameritrade or Sharebuilder if you want. The former being if you want to be more "involved", the latter if you want to be "less involved and more automated".

PM me. As a disclaimer, no need for me to refer you, other than that they give you free stuff. But feel free to sign up directly with the sites without my referral I enjoy both of them and use both of them for different purposes.

 

[richardycc]

hgsi is up over $1 PM with buyout rumor...very exciting time to hold this stock...anyone else still own this stock?

 

[KDKPSJ]

Originally posted by: richardycc
hgsi is up over $1 PM with buyout rumor...very exciting time to hold this stock...anyone else still own this stock?

I do. What a beautiful day for being HGSI holder! Thanks to $ 30/sh buyout rumor!

 

[eLiu]

Originally posted by: richardycc
hgsi is up over $1 PM with buyout rumor...very exciting time to hold this stock...anyone else still own this stock?

I'm still in I bought some shares at 3.5 and then again after the pop at 12.5, 13.9, and 14.3. Once again, thanks richardycc!!

 

[richardycc]

Originally posted by: eLiu

Originally posted by: richardycc
hgsi is up over $1 PM with buyout rumor...very exciting time to hold this stock...anyone else still own this stock?

I'm still in I bought some shares at 3.5 and then again after the pop at 12.5, 13.9, and 14.3. Once again, thanks richardycc!!

no problem..no shares are up and my hgsi Oct 20 calls are up from 65cents to 2.55..wish I bought more.

 

[Dacalo]

More craziness with HGSI!

 

[KDKPSJ]

Good day for HGSI, again!

Also, what's up with RMBS last 10 min? It was pretty flat at yesterday's close, then sudden jump to +4%. Any news leak? Just short squeeze?

 

[Kntx]

Originally posted by: everydae
Good day for HGSI, again!

Also, what's up with RMBS last 10 min? It was pretty flat at yesterday's close, then sudden jump to +4%. Any news leak? Just short squeeze?

I don't know, but I like it. The pattern this week has been a run up in the morning then easing down into the close. Maybe same thing today.

 

[Azurik]

Originally posted by: everydae
Also, what's up with RMBS last 10 min? It was pretty flat at yesterday's close, then sudden jump to +4%. Any news leak? Just short squeeze?

RMBS broke its 52-week high. The AT Trial is the most damaging and life-threatening trial for the memory manufacturers. After years and years of delay, September 28 really looks like the beginning of the end.

I have been reading damaging documents for years that Rambus has. As the trial comes closer, there have been more of these documents shown for the first time.

The cartel has done so well with their propoganda that the majority of people still believe RDRAM failed because it was too expensive, too hot, too everything. People will now realize that the memory manufacturers use illegal tactics and huge conspiracies to kill Rambus. You just can't make this stuff up.

To be honest though, I can't wait until RMBS keeps going up and up and not look back. These years with the stock going up and down in huge amounts provided extremely good trading profits, but I have a huge core position I'm ready to cash in at a much higher level.

Less than a month, baby... less than a month.

 

[Slew Foot]

Any word on goings on with TSRA? Ive got sept options I need to figure out what to do with.

 

[JS80]

I didn't have the balls to short last week. I finally did it. Just bought Sept 99 puts.

 

[SandEagle]

Anyone check Vonage today? What's up with that??

 

[pravi333]

Originally posted by: SandEagle
Anyone check Vonage today? What's up with that??

No idea, but they got this new package which offers free international call for 60 countries! for the same monthly price.

 

[Azurik]

Originally posted by: Slew Foot
Any word on goings on with TSRA? Ive got sept options I need to figure out what to do with.

Slew Foot - settlements and other announcements are always a possibility anytime, but when is anyone's guess. I sold out of my Sept 30's a while ago for a good profit, I'm only holding shares at the moment. The next litigation decision by the same Judge Essex is due in November I believe. As the time goes closer, I will probably buy options for leverage on that.

 

[AUMM]

do you think it's worth picking up more shares of RMBS if it dips or even at current levels?

 

[SSSnail]

What I want to know is, who's controlling the news and the market, and how do they manipulate the market regardless of news? How the hell do you have financial runs for 10 days straight, on purely hot air?