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Stock Thread (31 Viewers)
- Thread starter St. Louis Bob
- Start date
fantasycurse42
Footballguy Jr.
culdeus
Footballguy
Bossman
Footballguy
Got it. Thanks.
So lets say, hypothetically, that some dumbbaz buys NFLX at it's peak of $328 ... then sells 4 days later at $316.
21 days later, said noob buys the same amount of NFLX at $273.
This would be considered a "wash-sale" and no losses can be claimed. As far as the IRS is concerned, he owns these shares at $328.
It's a bit complicated but you don't actually lose the ability to take the loss, you just can't claim it right away (it gets added to the cost basis of your new purchase, so in your hypothetical your $12/sh loss would get added to your new $273/sh cost to give you a basis of $285/sh). Here is another article with a few examples. Basically the the IRS doesn't want you to sell every time you have a loss and be able to deduct it for that tax year, but then hold onto your gains for a long time without paying taxes on them (if you don't sell).
It generally has more to do with timing than any huge difference, so you shouldn't focus too much on the tax implications for your decision on when to buy and sell. Generally you'd be better off buying NFLX 21 days later at $273/sh than waiting 31 days and buying at $290/sh (assuming you had a crystal ball regarding the stock price, of course).
Not tax advice and all that....
St. Louis Bob
Footballguy
St. Louis Bob
Footballguy
500 TVIX at $10.85
Bob Sacamano
Footballguy
They rewrote the tax code in 5 minutes on the back of a cocktail napkin stained with Koch DNA. So, never talk to the Don about odds.
I just don't get why you're constantly giving predictions on what's going to happen in the market short term (which no one knows), and keep saying things like a trade war "could" happen and the market isn't pricing it in. Obviously the market isn't going to fully price in something that "could" happen because there's also a chance that it doesn't. All of this volatility lately is due to changing of the odds of something like that happening- some days/hours it seems more likely and we go down, others less likely and we go up, etc. The market is generally pretty efficient and adjusts quickly as we receive new information.
Bob Sacamano
Footballguy
Besides, trade wars are good and easy to win.
Bob Sacamano
Footballguy
Yes, i know. I'll stop now.
fantasycurse42
Footballguy Jr.
I don't get why you care, but it really doesn't matter - it comes off that it bothers you.
Late cycle, high volatility - I'm paying close attention bc you could lose 5% overnight, I'm staying nimble for the balance of this cycle... if you don't like it, there is a very simple solution for you.
fantasycurse42
Footballguy Jr.
Xi is splitting the atom, our guy is riding the short bus mooning people out of the window. So yes, I bet China feels this way
fantasycurse42
Footballguy Jr.
Think you saw this one, came out around 5-6 EST yesterday https://www.cnbc.com/2018/04/03/us-names-chinese-products-under-proposed-tariffs.htmlI saw the story at 7:05 CST and it released at 6 CST
China dropped their news about $50B in tariffs overnight, at least I didn't see anything until I woke up in the morning about their intended retaliation.
fantasycurse42
Footballguy Jr.
This might get me flamed a little, but I do think something does need to be done about China's trade practices - they do steal IP and they're involved in some shady business practices. Some pain now, might be good for us later.
With that being said, Trump must be the most awful person to work for on Earth - he operates on a purely authoritative basis, def much better ways to handle negotiations than this.
With that being said, Trump must be the most awful person to work for on Earth - he operates on a purely authoritative basis, def much better ways to handle negotiations than this.
proteus126
Footballguy
These things gotta happen every five years or so, 10 years. Helps to get rid of the bad blood. Been ten years since the last one. You know, you gotta stop them at the beginning. Like they should have stopped Hitler at Munich, they should never let him get away with that, they was just asking for trouble.
Calvitron Johnson
Footballguy
Appears you are right.
You sure about that? Sounds like a real bad idea right now as the markets shrugged of the orange due's comments.
fantasycurse42
Footballguy Jr.
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James Daulton
Footballguy
Why oh why didn't I do whatever it is I could have done to capitalize on this!!!Nailed it
fantasycurse42
Footballguy Jr.
St. Louis Bob
Footballguy
500 more at $10.10 for 1000 at $10.48St. Louis Bob said:
Rattle and Hum
Footballguy
Sell puts on msft at the price you plan to buy. Profit even if doesn't get to your price.Well I got my NFLX at the opening bell today which was nice.
Still can't get a deal on MSFT.
I'm not scared of the bear ... I think the bear is scared of ME.
Bossman
Footballguy
I tried to educate myself on the puts and pulls and calls and trimming the hedges ... but I literally fell asleep at the laptop.
Couldn't quite wrap my tiny pee-brain around the strategy ... other than you're paying a fee for the service.
I understand that at some point I'll need to utilize these things. I'll figure it out eventually.
I'd prefer to just buy low. Made a tidy profit buying NFLX low today. We'll see if it holds.
Sand
Footballguy
You can grind out another percent of gains or so with judicious use of tax loss harvesting. I make sure, at least, to have 3k of losses built up to go against taxable income each year.
Even better there is no wash rule on tax gain harvesting. Though my state (
) penalizes it heavily with a weird state rule. I cut a tax check this week thanks to that. Luckily most states are normal and can utilize both techniques effectively.
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Bossman
Footballguy
I'm sure there is more to it than can be easily explained on a message board ... but it sounds strange that you (and others) would purposely "lose" $3k ... to save in taxes.
You can grind out another percent of gains or so with judicious use of tax loss harvesting. I make sure, at least, to have 3k of losses built up to go against taxable income each year.
Even better there is no wash rule on tax gain harvesting. Though my state (
My simple mind tells me that I'd rather keep the $3k and pay the 40-50% or so tax burden that it gives me.
Unless you're not actually losing that $3k and somehow only showing it on paper. If so, this is info that I must have.
Bossman
Footballguy
What's the mood ring say for today Nostradamus?
I've got an itch that needs scratchin.
After yesterday I'm thinking "what goes up must come down" .... Might try my hand at this TVIX and see if I can make a quick couple hundy this week.
NeverEnough
Footballguy
I just rolled a whole $6k over to my IRA from an old job. What should I buy?
James Daulton
Footballguy
I think we see gains like yesterday. The market lately seems to have an insatiable need to go up on only significant negative news seems to bring it down (and bring it down hard).
Rattle and Hum
Footballguy
What price would you like to buy MSFT at? I'll walk you through the mechanics if you had interest.
Bossman
Footballguy
St.Louis Bob suggests TVIX ... lots of TVIX.
(no, not really)
I'm ready to pounce as well but I'm holding out for some better deals.
Guys in here have me believing Trump will somehow sabotage the market with his trade war and amzn hate .... and all stock will soon be deeply discounted.
My advise ... hold until further notice.
Bossman
Footballguy
I appreciate the offer.
It's not the fact that I can't afford the MSFT stock ... it's more the fact that I want it at a better value.
I've recently purchased AMZN and NFLX at their peaks and I'm now attempting to be more patient with my purchases. Lessons learned and such.
Probably should have grabbed some MSFT early yesterday. Had an order in Tuesday evening but it missed at opening by $2.
parasaurolophus
Footballguy
You are trying to define 'value' by the current stock price. By doing so, you are trying to time the market. Amateur tip, you are never going to be able to do so.
Instead, you should try creating your own valuations using perhaps historical ratios. IE MSFT's current PE is 25 and last year at this time it was 35. I expect MSFT's earning to rise between 5-10% year over year for the next 2-5 years so at it's current price it could easily support a PE closer to 30 which would push it to $110 share. With this being the case, the current $92 share is a solid value, unless of course you can find what you perceive as a better value some place else. Obviously this is just spit balling here with numbers, but that is what you may want to consider when looking for a stock to purchase. I also prefer PEG ratio's for some stocks and don't forget to factor in dividends, and/or expected buy backs/dividend increases.
Now, this is also being told by a guy that sold half his MSFT position when the stock hit $65 because I nearly tripled and I thought the valuations were a bit lofty. So, I'm almost always wrong.
Lastly, you may want to consider opening a position in a stock you like, such as MSFT but only buy say 1/4 or 1/3 of what you want to invest. If it drops, buy a bit more.
Sputnikv8
Footballguy
Capella
Footballguy
parasaurolophus
Footballguy
Capella
Footballguy
NeverEnough
Footballguy
Even the ETFs I have $ in are losing. I may as well hold.Sounds long term....sp500 index fund and play with other money.borrrrrrring.
parasaurolophus
Footballguy
For those of you that like to gamble on biotechs, TCON could be a fun ride. They have four studies at phase 2 or later and three at phase 1.
They had a heck of a day yesterday so probably not a great entry point, but should provide a lot of future volatility and could be some really nice spikes.
I have 1760 shares at 2.26. As always with small biotechs, remember they can drop 60% in a day on bad news. they can also double with good news.
They had a heck of a day yesterday so probably not a great entry point, but should provide a lot of future volatility and could be some really nice spikes.
I have 1760 shares at 2.26. As always with small biotechs, remember they can drop 60% in a day on bad news. they can also double with good news.
Sputnikv8
Footballguy
But I thought the name change was going to break thru the 30's... and by 30's I mean pennies.
