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My Stock Value Strategy Starts Now (1 Viewer)

Sold 400 SCO at 29.0 - Like taking candy from a baby today. If I could just get a little bounce on FREE I would be all cash again

 
Edited to add: Added 10,000 FREE total between 1.20 and 1.21, but will just count as adding 10,000 at 1.21

 
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David Dodds said:
Edited to add: Added 10,000 FREE total between 1.20 and 1.21, but will just count as adding 10,000 at 1.21
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Why?I would think that other shippers would be a better bet than FREE. Why not Eagle, Diana, or DRYS? Because these guys haven't seen the bump like the other bulk shippers?
 
Thoughts on FAZ heading into tomorrow? Big bull run lately for the financial sector based on nothing more than a few whispers of good earnings reports. I think the bull will return shortly.

 
Who knows the in's and out's of the 'wash rule'? Simple example: My question is if I buy 100 POS at 10 and sell at 9 for a $100 loss, then within 30 days buy 100 POS at 9 and sell at 10 for a $100 gain, the 'wash rule is meaning less, right? That is the way I read it.

Now if I took a $100 loss and then another $100 loss within 30 days, I can't deduct those losses. But if I wipe out the loss with a gain and end up even, the gain gets absorbed.

I ask because I bought into this damn crack addicting FAS at 9.60.

 
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Trying something new here. Playing the end of day FAS momentum theory others have talked about. In FAS at $9.80ish. Will be out by the end of day.

 
The Z Machine said:
Thoughts on FAZ heading into tomorrow? Big bull run lately for the financial sector based on nothing more than a few whispers of good earnings reports. I think the bull will return shortly.
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While I am scared ####less in FAS, I would never touch FAZ unless there was confirmation of the end of financials.
 
FavreCo said:
Who knows the in's and out's of the 'wash rule'? Simple example: My question is if I buy 100 POS at 10 and sell at 9 for a $100 loss, then within 30 days buy 100 POS at 9 and sell at 10 for a $100 gain, the 'wash rule is meaning less, right? That is the way I read it.Now if I took a $100 loss and then another $100 loss within 30 days, I can't deduct those losses. But if I wipe out the loss with a gain and end up even, the gain gets absorbed.I ask because I bought into this damn crack addicting FAS at 9.60.
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Not an expert but my understanding is that it doesn't matter if you end up with no position. What they don't want is for you to....1. buy at 102. sell at 93. buy at 94. hold at 105. claim that you lost $1 when you're sitting on $1 of unrealized gains.I may be way off base here.
 
BassNBrew said:
FavreCo said:
Who knows the in's and out's of the 'wash rule'? Simple example: My question is if I buy 100 POS at 10 and sell at 9 for a $100 loss, then within 30 days buy 100 POS at 9 and sell at 10 for a $100 gain, the 'wash rule is meaning less, right? That is the way I read it.Now if I took a $100 loss and then another $100 loss within 30 days, I can't deduct those losses. But if I wipe out the loss with a gain and end up even, the gain gets absorbed.I ask because I bought into this damn crack addicting FAS at 9.60.
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Not an expert but my understanding is that it doesn't matter if you end up with no position. What they don't want is for you to....1. buy at 102. sell at 93. buy at 94. hold at 105. claim that you lost $1 when you're sitting on $1 of unrealized gains.I may be way off base here.
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But if you sell at say 11, (lose $100, 'win' $200) then the loss gets absorbed and you pay taxes on only $100, right?
 
FavreCo said:
BassNBrew said:
FavreCo said:
Who knows the in's and out's of the 'wash rule'? Simple example: My question is if I buy 100 POS at 10 and sell at 9 for a $100 loss, then within 30 days buy 100 POS at 9 and sell at 10 for a $100 gain, the 'wash rule is meaning less, right? That is the way I read it.

Now if I took a $100 loss and then another $100 loss within 30 days, I can't deduct those losses. But if I wipe out the loss with a gain and end up even, the gain gets absorbed.

I ask because I bought into this damn crack addicting FAS at 9.60.
Click to expand...
Not an expert but my understanding is that it doesn't matter if you end up with no position. What they don't want is for you to....1. buy at 10

2. sell at 9

3. buy at 9

4. hold at 10

5. claim that you lost $1 when you're sitting on $1 of unrealized gains.

I may be way off base here.
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But if you sell at say 11, (lose $100, 'win' $200) then the loss gets absorbed and you pay taxes on only $100, right?
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The disallowed loss is added to your basis. This link explains it well. Check out the example.http://en.wikipedia.org/wiki/Wash_sale

 
FavreCo said:
eoMMan said:
The disallowed loss is added to your basis. This link explains it well. Check out the example.

http://en.wikipedia.org/wiki/Wash_sale
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So in the end if you lose, win, lose, win repeatedly but in the end, end up with a profit, the wash rule mis meaningless. That's the way I read it.Lose repeatedly on the same stock within 30 days and you are screwed.
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I don't think so. Eventually you won't buy it back and can deduct the entire loss.
 
BassNBrew said:
FavreCo said:
eoMMan said:
The disallowed loss is added to your basis. This link explains it well. Check out the example.

http://en.wikipedia.org/wiki/Wash_sale
Click to expand...
So in the end if you lose, win, lose, win repeatedly but in the end, end up with a profit, the wash rule mis meaningless. That's the way I read it.Lose repeatedly on the same stock within 30 days and you are screwed.
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I don't think so. Eventually you won't buy it back and can deduct the entire loss.
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That's what I was wondering. Tha't the real question. If I buy twice, lose both times (say this month), can I deduct the losses come tax time next year. If so, who cares about the wash rule.
 
The Z Machine said:
Yeah, the PAZ/FAS stuff really scares me, and I won't jump in on them, but I gotta think that this bull run ends sooner rather than later.
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I thought it would end before hours this morning. When it continued up, I jumped out and hold 100% cash right now. I still expect the bull, but won't be surprised if FAS continues up through the week. I am beginning to think (hope) this is an instance of buy the rumor, sell the news. If Goldman Sachs reports good news tomorrow and FAS doesn't move, or starts to recede, I would cash out of bank stocks and FAS.For those waiting on the end of day acceleration that didn't happen, since I have tracked it (3/18) this is the first time that it had such a straight line increase and it didn't accelerate. That probably doesn't make you feel better, but at least you didn't lose. And it is up 30 cents after hours.
 
bigfishboy said:
The Z Machine said:
Yeah, the PAZ/FAS stuff really scares me, and I won't jump in on them, but I gotta think that this bull run ends sooner rather than later.
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I thought it would end before hours this morning. When it continued up, I jumped out and hold 100% cash right now. I still expect the bull, but won't be surprised if FAS continues up through the week. I am beginning to think (hope) this is an instance of buy the rumor, sell the news. If Goldman Sachs reports good news tomorrow and FAS doesn't move, or starts to recede, I would cash out of bank stocks and FAS.For those waiting on the end of day acceleration that didn't happen, since I have tracked it (3/18) this is the first time that it had such a straight line increase and it didn't accelerate. That probably doesn't make you feel better, but at least you didn't lose. And it is up 30 cents after hours.
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That's because I bought in today. Sorry to be a trend killer.
 
FavreCo said:
That's what I was wondering. Tha't the real question. If I buy twice, lose both times (say this month), can I deduct the losses come tax time next year. If so, who cares about the wash rule.
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Yes (as long as you don't buy again within 31 days), because you will no longer have ownership in that security. The rule is in place to prevent selling and reaquiring solely for a tax benefit.
 
Year to date Profit = $38,809

Today's Realized gains/Losses: +10,904

Bought/Sold 400 SCO - Profit = $488

Bought/Sold 10,000 DXO - Profit = $1,988

Sold 3,000 PRGN - Profit = $198

Sold 13,400 FEED - Profit = $8,230

Holding these positions (unrealized gains):

30,000 FREE at 1.20 (currently at 1.24)

What a day! I left some money on the table with FEED, but thrilled to get the big run up.

 
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David Dodds said:
Year to date Profit = $38,809

Today's Realized gains/Losses: +10,904

Bought/Sold 400 SCO - Profit = $488

Bought/Sold 1,000 DXO - Profit = $1,988

Sold 3,000 PRGN - Profit = $198

Sold 13,400 FEED - Profit = $8,230

Holding these positions (unrealized gains):

30,000 FREE at 1.20 (currently at 1.24)

What a day! I left some money on the table with FEED, but thrilled to get the big run up.
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nice work
 
I started with $130K and have a margin account. I only once used the margin leverage and burned myself with SCO. I have used the margin though to cover sales that have just not been recorded yet (ie sell on Monday, but funds aren't really there until Thursday kind of thing). But generally I have tried to only have $60-$90K worth of stocks in play at any venture.

 
4/7/2009 4/8/2009 KFN 1000 0.8997 0.9084 8.69

4/7/2009 4/8/2009 VG 1000 0.45 0.375 -225.01

4/8/2009 4/13/2009 GNVC 1500 0.61 0.51 -148.82

4/8/2009 4/9/2009 BEE 1500 0.85 0.9239 110.8

4/13/2009 4/13/2009 DNE 0.1705 0.01701 -36.07

4/13/2009 4/13/2009 DXO 400 2.95 3.17 88

4/13/2009 PCX 500 4.83

So far -202.41

 
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David Dodds said:
I started with $130K and have a margin account. I only once used the margin leverage and burned myself with SCO. I have used the margin though to cover sales that have just not been recorded yet (ie sell on Monday, but funds aren't really there until Thursday kind of thing). But generally I have tried to only have $60-$90K worth of stocks in play at any venture.
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So how do you calculate a % return? Is it on the 90k? 130k? 130k+margin? If you have a total of 200k, for example, and have gone up by 40+k, that's a 20% return. If it's 90k, you're up over 50%. I'm not asking you to share the numbers, just trying to figure out how this works. I guess it matters if the rest of the money is in cash, or at work but in lower risk investments? For example, if you have 70k making 2% interest and 130k making 40k, then you made 41,400 on 200k. It seems like an important number to me for some reason, but I guess what really matters is the bottom line.
 
bostonfred said:
David Dodds said:
I started with $130K and have a margin account. I only once used the margin leverage and burned myself with SCO. I have used the margin though to cover sales that have just not been recorded yet (ie sell on Monday, but funds aren't really there until Thursday kind of thing). But generally I have tried to only have $60-$90K worth of stocks in play at any venture.
Click to expand...
So how do you calculate a % return? Is it on the 90k? 130k? 130k+margin? If you have a total of 200k, for example, and have gone up by 40+k, that's a 20% return. If it's 90k, you're up over 50%. I'm not asking you to share the numbers, just trying to figure out how this works. I guess it matters if the rest of the money is in cash, or at work but in lower risk investments? For example, if you have 70k making 2% interest and 130k making 40k, then you made 41,400 on 200k. It seems like an important number to me for some reason, but I guess what really matters is the bottom line.
Click to expand...
I will calculate it on the $130K number, but frankly haven't thought too much about it. I know I will be buying a house within 18 months so the plan was to just have this money very liquid (in a CD or something), but compared to those paltry returns I thought I could do better with a little bit of effort. I was willing to lose about $30K before stopping, but it never came to that. Now that the winter has passed (I would like a better heated house before the next winter), I will likely continue to gamble things up until I am ready to buy a house.
 
Oil Futures Chain

CLK09.NYM Crude Oil May 09 - 50.13

CLM09.NYM Crude Oil Jun 09 - 53.11

CLN09.NYM Crude Oil Jul 09 - 55.50

CLQ09.NYM Crude Oil Aug 09 - 56.62

CLU09.NYM Crude Oil Sep 09 - 58.36

CLV09.NYM Crude Oil Oct 09 - 59.23

My take: The Contango is widening which does not make a lot of sense to me as we head closer to the summer months. Demand should be strong in July and August, but with huge inventories I doubt September, October and beyond keep seeing higher priced oil.

 
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David Dodds said:
bostonfred said:
David Dodds said:
I started with $130K and have a margin account. I only once used the margin leverage and burned myself with SCO. I have used the margin though to cover sales that have just not been recorded yet (ie sell on Monday, but funds aren't really there until Thursday kind of thing). But generally I have tried to only have $60-$90K worth of stocks in play at any venture.
Click to expand...
So how do you calculate a % return? Is it on the 90k? 130k? 130k+margin? If you have a total of 200k, for example, and have gone up by 40+k, that's a 20% return. If it's 90k, you're up over 50%. I'm not asking you to share the numbers, just trying to figure out how this works. I guess it matters if the rest of the money is in cash, or at work but in lower risk investments? For example, if you have 70k making 2% interest and 130k making 40k, then you made 41,400 on 200k. It seems like an important number to me for some reason, but I guess what really matters is the bottom line.
Click to expand...
I will calculate it on the $130K number, but frankly haven't thought too much about it. I know I will be buying a house within 18 months so the plan was to just have this money very liquid (in a CD or something), but compared to those paltry returns I thought I could do better with a little bit of effort. I was willing to lose about $30K before stopping, but it never came to that. Now that the winter has passed (I would like a better heated house before the next winter), I will likely continue to gamble things up until I am ready to buy a house.
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Uncle Sam will cut you a check for 8K if you buy before December. Of course you could make that here in a day. I also suspect that a good bit of the 8K is in the price of a home and we'll see the prices dropped accordingly after the market comes to a halt in December (assuming they don't re-up or make the 8K permanent).
 
BassNBrew said:
Uncle Sam will cut you a check for 8K if you buy before December. Of course you could make that here in a day. I also suspect that a good bit of the 8K is in the price of a home and we'll see the prices dropped accordingly after the market comes to a halt in December (assuming they don't re-up or make the 8K permanent).
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I make too much money to get any of the rebates. California is offering $10K to buy a newly constructed home, but I doubt I qualify for that either. But yes the drop in Cali real estate is a big reason I am still on the sidelines. Home values are still on the decline here although it's getting a lot better.
 
David Dodds said:
bostonfred said:
David Dodds said:
I started with $130K and have a margin account. I only once used the margin leverage and burned myself with SCO. I have used the margin though to cover sales that have just not been recorded yet (ie sell on Monday, but funds aren't really there until Thursday kind of thing). But generally I have tried to only have $60-$90K worth of stocks in play at any venture.
Click to expand...
So how do you calculate a % return? Is it on the 90k? 130k? 130k+margin? If you have a total of 200k, for example, and have gone up by 40+k, that's a 20% return. If it's 90k, you're up over 50%. I'm not asking you to share the numbers, just trying to figure out how this works. I guess it matters if the rest of the money is in cash, or at work but in lower risk investments? For example, if you have 70k making 2% interest and 130k making 40k, then you made 41,400 on 200k. It seems like an important number to me for some reason, but I guess what really matters is the bottom line.
Click to expand...
I will calculate it on the $130K number, but frankly haven't thought too much about it. I know I will be buying a house within 18 months so the plan was to just have this money very liquid (in a CD or something), but compared to those paltry returns I thought I could do better with a little bit of effort. I was willing to lose about $30K before stopping, but it never came to that. Now that the winter has passed (I would like a better heated house before the next winter), I will likely continue to gamble things up until I am ready to buy a house.
Click to expand...
Scottrade does all the math for you. Just look at the percentage return in your gain/loss tracker.
 
David Dodds said:
sold 20,000 FREE at 1.35......woohoo and the ride continues here (seeing how I added these at 1.20 yesterday)
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Edited to add: 14,700 sold at 1.35 or higher. I will leave the order open and hopefully can sell the other 5,300. I will hold 10,000 shares though as I can still see this going higher yet.
 
Hmm... I had a GTC limit sell on FREE out there for $1.30 for the last week and it finally executed just now. Out 2,000 at + $180.

 
Buckna said:
Hmm... I had a GTC limit sell on FREE out there for $1.30 for the last week and it finally executed just now. Out 2,000 at + $180.
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yes this thing flirted with $1.30 forever it seems. I also had planned to get out there. I luckily pulled my GTC order off and it shot right past $1.30 this morning.
 
DXO now back at 3.10. This really has been so predictable with the UCO rollover. Next rollover for UCO will be in early June. Easy pickings

 
Mark Davis said:
GE just keeps giving gifts. I had covered calls written for 10 that expired Friday. GE had been over 10 and had assumed my shares would be sold. It dipped on Friday below the strike price and now right back over $10. So I keep my premium and the shares. Just wrote some April 11 covered calls for another $.50/share. I'll either cash in an extra $1.50 or shave another $.50 off the cost.
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I mirrored your trade here and it's looking good going into 4 days before options expire. GE is well over the strike price of 11 (knock wood.) If the options expire in the money this weekend I make $713.63 ~ 14%.
 
David Dodds said:
DXO now back at 3.10. This really has been so predictable with the UCO rollover. Next rollover for UCO will be in early June. Easy pickings
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I don't think it has as much to do with it this time. If you overlay the charts of DXO adn UCO they match up very closely. Last time that was not the case...there was a much larger discrepency...or at least not reacting the same to the price fluctuations of crude. Maybe it had to do with the spread being much higher last time.
 
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