***Official*** 2016 Stock Market Thread

[Kazukian]

I'd like to claim genius, but I was just lucky (so far).

 

[zinfamous]

I'd like to claim genius, but I was just lucky (so far).

I honestly wish I didn't click on threads like this and see these things happening. Felix posted this back on Thursday/Friday? I keep cashing out my available monies from that day and....damn I'd be retiring tomorrow.

...though there has got to be some restrictions on some scrub like me, out of nowhere, cashing out $10s of ks and laying it all on some dog stock with no history of doing so, then selling it all for $$$$....right? FTC be at my door the next day, right?

reason #157 that I do not trade.: pure ignorance in all related things

 

[Kazukian]

Since it's the internet & everything...

Now watch it crash, LOL

 

[zinfamous]

damn, grats man!

Can you buy me a Vega GPU when they are released? Because we're friends and all, right?

 

[zinfamous]

Oh snap--and it's now shed a cool ~30% in about 30 minutes!

This is like watching game 7 of the WS.

--if it falls back down to 4 bucks, should I bet it all on DRYS? Or is that colossally stupid?

 

[Imp]

^Daaaaaaamn. Nice job/luck on that one. That's a year's salary in a few days.

But just looking at the euphoria in this thread, there are probably hundreds/thousands of others having similar discussions and buying in, probably causing it to rise -- bubble psychology. How long can it last...? Who knows.

P.S. Oil magically rose 5% today after touching the low-mid $40s. Who woulda guessed.

 

[SketchMaster]

Oh snap--and it's now shed a cool ~30% in about 30 minutes!

This is like watching game 7 of the WS.

--if it falls back down to 4 bucks, should I bet it all on DRYS? Or is that colossally stupid?

I got in at the high 80s, so I'm just going to hope for the best.

 

[zinfamous]

lmao

 

[Imp]

^Looking at the 15 minute lagged DRYS chart now. It peaked around $100 at ~1:30pm. Sitting at $68 around 3:30pm.

Never heard of this "Pattern Day Trader" thing. Only appears to apply to margin accounts? Not my problem then!

 

[Kazukian]

^Looking at the 15 minute lagged DRYS chart now. It peaked around $100 at ~1:30pm. Sitting at $68 around 3:30pm.

Never heard of this "Pattern Day Trader" thing. Only appears to apply to margin accounts? Not my problem then!

Closed @ 73

 

[Kazukian]

^Looking at the 15 minute lagged DRYS chart now. It peaked around $100 at ~1:30pm. Sitting at $68 around 3:30pm.

Never heard of this "Pattern Day Trader" thing. Only appears to apply to margin accounts? Not my problem then!

Whoops, sorry, I was gigged for "free riding" https://en.m.wikipedia.org/wiki/Free_riding twice now.

The second time was because I didn't understand options need to settle for 24 hours, stocks 3 days. The time frame is a rolling year.

 

[RearAdmiral]

Whoops, sorry, I was gigged for "free riding" https://en.m.wikipedia.org/wiki/Free_riding twice now.

The second time was because I didn't understand options need to settle for 24 hours, stocks 3 days. The time frame is a rolling year.

I am happy you sold. That is a nuts trade. Good job man.

 

[Kazukian]

I am happy you sold. That is a nuts trade. Good job man.

Didn't sell, I'm still in there.

 

[Imp]

Whoops, sorry, I was gigged for "free riding" https://en.m.wikipedia.org/wiki/Free_riding twice now.

The second time was because I didn't understand options need to settle for 24 hours, stocks 3 days. The time frame is a rolling year.

That's a new one. I only ever paid attention to my real-time cash amount.

Edit: Got curious and reviewed some of my trades from years ago. Dafuq? Looks like I technically violated the "free ride" or "good faith" rules more than a few times. I never noticed any warnings by email/phone or trade screen though -- unless they buried it in the brokerage inbox I never looked at. Whatever, haven't done it in years, and I always had the money by the settlement dates -- always used my real-time balance. Or did they look at my total settled balance across all currencies/accounts with the bank...

 

[RearAdmiral]

Didn't sell, I'm still in there.

Oh I misread your picture then. Still up just a little bit though

 

[zinfamous]

Oh I misread your picture then. Still up just a little bit though

I think Kazukian also bought something like 1k shares @$21 on Monday, so he's still doing extremely well on those trades overall.

you experienced people: This looks like one of those situations where you could buy enough shares at, say $21-30, sell some percentage at, say, 1k% climb (lol) to bag a yuuuge profit on the overall deal, then hold onto to x number of shares and if shit hits the fan, sell well below $21-30 (maybe sell only the $30 shares) for an intentional loss to absorb capital losses?

Does that work--or do you have to hold them longer term to gain the benefit to offset taxes on your gains? Long-term capital gains/losses is 6 months or 1 year, right?

 

[Kazukian]

I think Kazukian also bought something like 1k shares @$21 on Monday, so he's still doing extremely well on those trades overall.

you experienced people: This looks like one of those situations where you could buy enough shares at, say $21-30, sell some percentage at, say, 1k% climb (lol) to bag a yuuuge profit on the overall deal, then hold onto to x number of shares and if shit hits the fan, sell well below $21-30 (maybe sell only the $30 shares) for an intentional loss to absorb capital losses?

Does that work--or do you have to hold them longer term to gain the benefit to offset taxes on your gains? Long-term capital gains/losses is 6 months or 1 year, right?

500 on Monday, 200 yesterday, average cost $31.19

 

[RearAdmiral]

I think Kazukian also bought something like 1k shares @$21 on Monday, so he's still doing extremely well on those trades overall.

you experienced people: This looks like one of those situations where you could buy enough shares at, say $21-30, sell some percentage at, say, 1k% climb (lol) to bag a yuuuge profit on the overall deal, then hold onto to x number of shares and if shit hits the fan, sell well below $21-30 (maybe sell only the $30 shares) for an intentional loss to absorb capital losses?

Does that work--or do you have to hold them longer term to gain the benefit to offset taxes on your gains? Long-term capital gains/losses is 6 months or 1 year, right?

Takes some balls to make trades like this. I haven't made a trade in a couple years I think.

 

[Kazukian]

Takes some balls to make trades like this. I haven't made a trade in a couple years I think.

When you see a move of 30%, either way, it's time to pay attention to a stock.

 

[zinfamous]

500 on Monday, 200 yesterday, average cost $31.19

ah I see. Is your brokerage account set up as average cost or as price per share? That could yuuugely affect potential deductions via losses if you want to harvest those later, right?

 

[Kazukian]

ah I see. Is your brokerage account set up as average cost or as price per share? That could yuuugely affect potential deductions via losses if you want to harvest those later, right?

I bought through my self controlled IRA, so no c gains worries.

I don't recommend using your IRA for stock trading, it's pretty insane to risk your retirement. (Although it's trading at 113 pre market, damn...)

 

[RearAdmiral]

When you see a move of 30%, either way, it's time to pay attention to a stock.

Sure. I'm just usually wrong. I used to dabble in my college days and did well, but that was pre-recession.

 

[zinfamous]

I bought through my self controlled IRA, so no c gains worries.

I don't recommend using your IRA for stock trading, it's pretty insane to risk your retirement. (Although it's trading at 113 pre market, damn...)

I have a couple of retirement accounts, but I'm actually not too worried about the value in that IRA to do such trading. But for me, that isn't the right decision anyway, because I'd rather the benefit of gains that I have access to at this point in my life.

Either way, it certainly is not at a price that such a purchase makes any sense for me. For my level of risk, this thing only interests me ~$10 price, and that ship has likely sailed.

I mean, unless there is some valid reason to think this will go back up to the 4 or even 5 figure price? ....I just have no knowledge of how such companies move in value like this in such unpredictable times. I tend to think some major sell-off is coming and if so, I might be willing to jump in, but I think it would be more likely to not see such gains again.

Anyway, I'd have to sell off most of my index funds to free up money to buy shares. I'm not interested in that right now.

 

[Kazukian]

Sure. I'm just usually wrong. I used to dabble in my college days and did well, but that was pre-recession.

If it moved up, it will tend to keep going up, if down you can buy and then sell on a dead cat bounce.

 

[RearAdmiral]

If it moved up, it will tend to keep going up, if down you can buy and then sell on a dead cat bounce.

I should stop being a weenie and do it.