David Dodds
Administrator
added 2,000 shares of DXO at 2.41. I still think oil could move down by the end of the week, but only DXO is down (USO, UCO and OIL are up) so this seems like an easy bounce move
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My Stock Value Strategy Starts Now (3 Viewers)
- Thread starter David Dodds
- Start date
chet
Footballguy
Not a 401K but a deferred comp plan. I put 30% each into Blackrock LCV and LCG. I will put the other 40% to work in the next week or so.what did you buy? I am guessing 401k since 60% is a typical max that you are allowed to contribute.
David Dodds
Administrator
and back out of DXO at 2.48. I made a huge mistake buying so few shares here.
Profit = .07 x 2,000 = $140
Profit = .07 x 2,000 = $140
David Dodds
Administrator
added 6,000 DXO at 2.35
David Dodds
Administrator
added 2,000 FAS at 7.72
David Dodds
Administrator
Out of FAS at 7.925 = $0.205 x 2000 = $410
David Dodds
Administrator
and out at 2.42.Profit - 0.06 x 6,000 shares = $360
Topes
Footballguy
So, for Capital Gains calculation, does the brokerage account provide a simple statement? Or must one do a lot of figuring by oneself or get an accountant?
In one calendar year, if I were to have $6000 in short term capital gains based on a bunch of transactions in a great number of stocks and $5500 in short term capital losses on a bunch of transactions in a great number of stocks, would the losses offset the gains, leaving me to pay tax on $500 in short term capital gains?
In one calendar year, if I were to have $6000 in short term capital gains based on a bunch of transactions in a great number of stocks and $5500 in short term capital losses on a bunch of transactions in a great number of stocks, would the losses offset the gains, leaving me to pay tax on $500 in short term capital gains?
David Dodds
Administrator
and back in for 8,000 DXO at 2.37
David Dodds
Administrator
yes most brokerages have a tax statement that shows all the transactions. And yes you just pay the capital gains on the difference between the wins and losses.
David Dodds
Administrator
and back out at $2.43. Profit = 0.06 x 8,000 = $480
David Dodds
Administrator
Bought 500 shares of SCO at $35.27
David Dodds
Administrator
Added another 500 of SCO at 34.75
David Dodds
Administrator
and out for 1,000 shares of SCO at $35.65. Like taking candy from a baby
Avg cost = 35.01 for a profit of $640
Avg cost = 35.01 for a profit of $640
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David Dodds
Administrator
and back in for 500 SCO at $34.39
David Dodds
Administrator
almost sold this a bunch of times right at 35, but now added shares on the pullback. Added 500 SCO at $34.04
David Dodds
Administrator
and back out at $34.785Profit = 34.785-34.215 = $570
David Dodds
Administrator
I watch it like a hawk.....especially once I buy something. I missed the last SCO pretty badly as it ran up to around 35.7. The indicators of the other ioil stocks have worked pretty well to trigger the buys and sells today
David Dodds
Administrator
Bought 500 SCO at 34.20
David Dodds
Administrator
Added another 500 SCO at 34.01
David Dodds
Administrator
added another 1000 SCO at 33.31
TheAristocrat
Footballguy
This is really interesting to watch. Didn't think I'd get wrapped up in it but here I am.
Thanks, Dodds.
Thanks, Dodds.
Lord of Football
Footballguy
I'm in at 33.38 on this one...I can't stand just sitting here watching you make all this money. (425 shares)
David Dodds
Administrator
Awesome. I think we are in very good here. The inventory report comes out tomorrow which is going to send oil lower.
David Dodds
Administrator
This news might be affecting things a little:
Mexico's state-run oil monopoly said Wednesday its 2008 crude production was down 9.2 percent from 2007
Mexico's state-run oil monopoly said Wednesday its 2008 crude production was down 9.2 percent from 2007
FavreCo
Footballguy
Doubful. Everyone knows that oil production is falling at about 5-10% per year worldwide for existing fields. Mexico's fields are declining rapidly and it's well known.
http://www.pastpeak.com/archives/2007/01/cantarell_colla.htm
http://www.pastpeak.com/archives/2007/01/cantarell_colla.htm
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David Dodds
Administrator
I think they are underestimating the supply again in the news:
Analysts expect an increase of 1.9 million barrels, according to a survey by Platts.
If those estimates are correct, U.S. crude inventories will have risen by 9.8 million barrels in just three weeks, a clear indication of how much both industries and consumers have slashed spending on energy.
Analysts surveyed by Platts predict gasoline stocks will increase 1.9 million barrels because of sluggish demand during a cold snap across much of the country.
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There are also 80+ million barrels floating on Supertankers waiting for a higher price too. I predict SCO makes it 37 tomorrow (but I might already be out)
Analysts expect an increase of 1.9 million barrels, according to a survey by Platts.
If those estimates are correct, U.S. crude inventories will have risen by 9.8 million barrels in just three weeks, a clear indication of how much both industries and consumers have slashed spending on energy.
Analysts surveyed by Platts predict gasoline stocks will increase 1.9 million barrels because of sluggish demand during a cold snap across much of the country.
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There are also 80+ million barrels floating on Supertankers waiting for a higher price too. I predict SCO makes it 37 tomorrow (but I might already be out)
David Dodds
Administrator
People went to lunch or something. No movement in the last 10 minutes.
FavreCo
Footballguy
That 80 mil. floating in tankers is one day's worth of oil.
Bonfire
Footballguy
Not that it really matters, but ive work extensively for Pemex the past few years. That has to be one of the most terribly run company in existence for a lot of reasons. I will also say that as I worked on the Operations & Maintenance side of the equation, that entire infrastructure is not being kept up at all. It seems to me the basic idea is use something until it dies. There is little/no work being put in to repair and preserve existing pipelines, tanks, stations, etc. I would not expect much of anything from Mexico long term in this area.
David Dodds
Administrator
But added with stockpiles that have been increasing at all worldwide storage centers with decreased demand and we are almost at full capacity to accept WTI. This rally seems without merit to me. I am staying in SCO
FavreCo
Footballguy
As fast as you move in and out, not that I would know, you should be fine. Long term, SCO goes down and DXO will go up. I would love DXO under 2 so buy all the SCO you can.This planet can eat thru any oil reserves in a few days if the economy is in gear.
David Dodds
Administrator
Bought 1,000 more SCO at 32.91...just about all in
FavreCo
Footballguy
Once you are all in, margin.
David Dodds
Administrator
average cost = $33.44 .....Time for the rally monkey
David Dodds
Administrator
I still have another $40K before I hit margin.....But this was my last buy here. I feel comfortable I will get out of this either today or early tomorrow. But if I am wrong, this is enough sharesOnce you are all in, margin.
Lord of Football
Footballguy
What time does the inventory report come out tomorrow? Are you going to wait for that to sell?
FavreCo
Footballguy
Place your bets. Does Dodds end up like Beeks, the Duke Bros or Valentine/Winthorpe?
Lord of Football
Footballguy
Ha, I was just thinking about that.
David Dodds
Administrator
It's heading up right now. I am guessing we have another 10 minutes staring at the screen at most
David Dodds
Administrator
Looks like I am holding into tomorrow......I still think it goes much higher tomorrow.
Lord of Football
Footballguy
Thanks for the update...37 will have to wait till tomorrow.
The Sniper
Footballguy
Not looking good after hours. SCO at $32.31. Hold on.
FavreCo
Footballguy
To top it off, the 100K in SCO is down where if he would have poured that $ into FAS at his initial buy of $7.72, he would have made over $28000 today at close.
BroncoFreak_2K3
sucker for Orange
ouch
