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Stock Thread (7 Viewers)

DB not gonna be bailed out by the government (should it come to that)... They're in a bad financial spot.

Wish the market moved more. Picked up S&P futures at 2150, sitting on 2153, debating a quick profit or rolling the dice and sleeping on it just using stops.

 
Quick tax point of clarification (overly-simplified, yes):

I own a stock I purchased for $10, my basis.

I sell covered calls for $1.  My basis is now $9.

If they expire worthless, my basis remains $9.

If I buy to close at $.25, my basis is now $9.25.  Correct?

 
Bob Sacamano said:
Quick tax point of clarification (overly-simplified, yes):

I own a stock I purchased for $10, my basis.

I sell covered calls for $1.  My basis is now $9.

If they expire worthless, my basis remains $9.

If I buy to close at $.25, my basis is now $9.25.  Correct?
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Not tax advice, yada, yada, but they are two separate things for tax purposes- whatever you do with the option (including letting it expire worthless) doesn't change your tax basis for the stock.

Your basis on the stock remains $10. If you cover the option at $.25, you owe tax on the gain of $.75. If it expires worthless, the gain is $1.

 
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General Malaise said:
You're an interesting cat.  Even when you're dead wrong, you argue that you're right.  My ex-wife was like that.  
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http://www.cnbc.com/2016/09/27/trumps-attack-on-yellen-fed-could-backfire.html

London-based Capital Economics Tuesday said Trump's criticism could even lead to Yellen's resignation before her term is over.
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This quote is obviously dependent on him winning the election, which i think would be highly unlikely (I also thought he had no chance to win the Republican nomination, so there is that). 

You act like I'm a lunatic for thinking this, explaining how dead wrong I am, but it is a fairly rationale school of thought and a lot of others agree with it. 

Let me preface, I hate Trump, he is a maniac and certainly not a guy who should be our president, not even close.

With that being said, some of his opinions on the Fed and stock market make a lot of sense, I mean the guy is a billionaire, he understands economics, and it would be crazy to say he has no idea about how economies work, I'll give the maniac that much. I feel the exact same way about the Fed and a lot of other smart people do too, Gundlach would be my favorite, but there are a bunch of others.

We're sitting on emergency monetary policy now for almost a decade, the Fed (and all central banks alike) have forced investors into risky assets (think about pensions for instance) because they cannot get yield anywhere. With their no interest business, companies have relentlessly bought back stock further fueling frothy asset valuations as investors have piled in. If the market was to crash, lives will be ruined - I'd blame central banks as much as greedy investors who aren't playing any defense. 

I'm not seeing the catalyst to go much higher, but I see plenty to go lower, who knows when it hits, but it will. 

& I know you love Hillary, she is just an evil manipulative liar - "Trump Trickle Down Economics"... Is everyone not aware that is the game the Fed has been playing (unsuccessfully) for almost a decade? Such awful candidates. 

 
:lmao:

Don't know where to begin here....

I love Hillary?  How many posts do I have in the Hillary thread here?  You know nothing about me, which matches your level of knowledge about markets and the economy.  Maybe you are LHUCKS...he is the only guy I can remember being more wrong about everything than you.

You thought the FED could be replaced by a president - you said as much and now you're scrambling to look less ignorant.  Not working.

Can't get yield anywhere, huh? :lmao:

This clown isn't going to listen to me, but maybe somebody else here can tell LHUCKS here about the yield available on highly rated corporate debt or REITS?  You know, the sorts of investments pensions and endowments are actually making....

 
Oh good lord.  Now you're following me on :e: and joining in on the Trump alias brigade to attack me on another message board?  Get ahold of yourself. 

 
This thread needs less GM, less aldon smith, less FC42 bickering/bragging(i actually like reading the other viewpoints he brings to the thread right or wrong), and more siff.

XOM is such a strangely run company. I work closely with them and the turnover they have is unreal. Amazing how poorly run the oil and gas industry is operationally, yet they just print money. 

 
parasaurolophus said:
This thread needs less GM, less aldon smith, less FC42 bickering/bragging(i actually like reading the other viewpoints he brings to the thread right or wrong), and more siff.

XOM is such a strangely run company. I work closely with them and the turnover they have is unreal. Amazing how poorly run the oil and gas industry is operationally, yet they just print money. 
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No worries.  I'll vacate this one.  Enjoyed it in the past and agree it was best left untouched with drama.  Apologies to all and good luck out there!

 
I ran a stock screen for underperforming companies with low p/e and Skechers stood out.  I appreciate their business model and the growth over the last few years has been enormous.  Even if the growth was unsustainable, they are currently undervalued at $22.50.  I expect them to reach $24.75 before earnings report in late October.  Who knows where it goes from there.

 
General Malaise said:
No worries.  I'll vacate this one.  Enjoyed it in the past and agree it was best left untouched with drama.  Apologies to all and good luck out there!
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Nah, stick around, bud.

Just drop the previous disagreement with fc42. 

Are you still long on that Canadian seafood company? Long John Clearwater Silver or something?

 
OPEC agreed on Wednesday to reduce its oil output to 32.5 million bpd from the current production levels of around 33.24 million bpd, two OPEC sources told Reuters. - first time in 8 years.

 
Plorfu said:
Taking a shot on GNCA here. Reporting additional Phase 2 results on a genital herpes treatment at the end of the month and there's really no negatives I can see. Except for having genital herpes. That seems bad.

Anyway, bought 700 shares at around $5.20. Speculative biotech play. 
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Up 17% premarket to $6.81 on positive results. They have potential for more.  Thinking of just taking my $1000+ and calling it a day, but they also have a lot of institutional and pharm ownership, and a development platform that seems valuable.  (ATLAS)

Bought into SGYP awhile back around $5.20 as well. Some results due next month, and a PDUFA date for the same drug (different symptom) end of January. IBS stuff, possible buyout candidate.

 
Plorfu said:
Up 17% premarket to $6.81 on positive results. They have potential for more.  Thinking of just taking my $1000+ and calling it a day, but they also have a lot of institutional and pharm ownership, and a development platform that seems valuable.  (ATLAS)

Bought into SGYP awhile back around $5.20 as well. Some results due next month, and a PDUFA date for the same drug (different symptom) end of January. IBS stuff, possible buyout candidate.
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Guessing that didn't play out the way you anticipated?

 
kevzilla said:
Hey GM, some schmuck on CNBC was pimping zinc the other day. Thoughts? 
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Not one we're interested in, but I think the thesis on this is prices were so low that production was curtailed and now demand has increased in the face of constrained supply so the bottoms are in and the prices have to head higher.  Not sure the best way to play this from an equity standpoint.  

Quick look tells me zinc prices have ticked up 44%, so a big moves already been made.  Philippines shutting down mines for environmental reasons.  Did this guy give out any equities to put on the watch list?   

 
kevzilla said:
Hey GM, some schmuck on CNBC was pimping zinc the other day. Thoughts? 
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One of the investment reasons for cobalt is that it's a byproduct metal of copper, which has been in the toilet for pricing.  Many copper mines are shutting down due to this and as a result, cobalt supply is going to take a huge dip as there aren't really any good, meaningful cobalt mines out there other than the artisanal mines in the DRC that have been picked over.  Until copper prices recover, cobalt shortfall will be problematic for all the EV battery manufacturers.  Not sure what Elon Musk is going to do, but it bears watching.

 
General Malaise said:
Not one we're interested in, but I think the thesis on this is prices were so low that production was curtailed and now demand has increased in the face of constrained supply so the bottoms are in and the prices have to head higher.  Not sure the best way to play this from an equity standpoint.  

Quick look tells me zinc prices have ticked up 44%, so a big moves already been made.  Philippines shutting down mines for environmental reasons.  Did this guy give out any equities to put on the watch list?   
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Not that I recall. Appreciate your input.

 
Plorfu said:
I decided to hold, so I missed a chance on the big jump premarket. The results were good, I'm comfortable hanging on for a while.
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I bought 1200 at close.  Curious enough to see how this plays out. 

 
FatUncleJerryBuss said:
http://www.wsj.com/articles/amazons-newest-ambitioncompeting-directly-with-ups-and-fedex-1474994758?mod=rss_whats_news_technology
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Nice article but it's not happening. The article states Amazon will save a billion by delivering their own packages but what about the cost to make this happen. Buying airplanes and dealing with a union. Good luck.

I worked for UPS 1994-2007 and during this time Fedex entered the ground business and by the time I left they had a small piece of the business. Amazon will deliver packages but UPS and Fedex will deliver the majority.

 
metoo said:
Nice article but it's not happening. The article states Amazon will save a billion by delivering their own packages but what about the cost to make this happen. Buying airplanes and dealing with a union. Good luck.

I worked for UPS 1994-2007 and during this time Fedex entered the ground business and by the time I left they had a small piece of the business. Amazon will deliver packages but UPS and Fedex will deliver the majority.
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Drones brother, drones.

 
General Malaise said:
One of the investment reasons for cobalt is that it's a byproduct metal of copper, which has been in the toilet for pricing.  Many copper mines are shutting down due to this and as a result, cobalt supply is going to take a huge dip as there aren't really any good, meaningful cobalt mines out there other than the artisanal mines in the DRC that have been picked over.  Until copper prices recover, cobalt shortfall will be problematic for all the EV battery manufacturers.  Not sure what Elon Musk is going to do, but it bears watching.
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GM, can you please refresh my memory on your favorite Cobalt plays?

 
Al Czervik said:
GM, can you please refresh my memory on your favorite Cobalt plays?
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E-Cobalt isn't necessarily the best nor my favorite nor do I believe they will be a meaningful producer anytime soon.  But, they've been around a long time, have all their permitting in place and reside in mining friendly Idaho.  Somebody will take them out at a premium.  As predicted, there are new cobalt names racing to the party so what was once very slim pickings of crappy little juniors will be a bigger party of crappy little juniors because in a rising tide all boats are lifted.  

 
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