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25,672,378 Views | 234875 Replies | Last: 40 min ago by ProgN
Carlo4
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In reply to deadbq03 • 5:26p, 11/30/21
AG
deadbq03 said:
No worries.

My taxes last year sucked because I was unaware of wash sales altogether. This year I'm trying to learn as much as I can. Before last year, I did all my trading under the umbrella of an IRA so I didn't have to care.

The funny thing is that I'd wager so much of this goes unnoticed, and many folks have probably been doing it wrong for years thinking they're filing correctly, but then get slammed in an audit.
I came out even (not saying wash) because of the wash rule last year after selling and rebuying within so many days multiple times on a few plays.

Learned a lesson without it going that far thankfully. This year, the paperwork will be 1/20 the size as i've been more patient.



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Charismatic Megafauna
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5:33p, 11/30/21
AG
This guy says buying a call option on a stonk is the same as buying the stonk, or at least shows an intention to, regardless of strike/expiration.
https://www.optionstaxguy.com/wash-sales
So if you sell a bunch of shares to harvest some tax loses then buy calls because you're afraid of missing a run it seems you could get in trouble. Man I wonder how TurboTax handles my many many weeklies that expire worthless, seems most of those should not count as losses due to wash sale
Everybody loves a dirt road
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Irish 2.0
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5:33p, 11/30/21
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azul_rain
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In reply to Irish 2.0 • 5:37p, 11/30/21
Travel stocks going down
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FTAG 2000
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In reply to Irish 2.0 • 5:38p, 11/30/21
AG
Irish 2.0 said:
It's a modern scientific miracle! One week after discovering there's a new variant, we're going to be able to test for it.

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ProgN
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In reply to FTAG 2000 • 5:53p, 11/30/21
AG 2000' said:
Irish 2.0 said:
It's a modern scientific miracle! One week after discovering there's a new variant, we're going to be able to test for it.

Expect blue states to shutdown, but red states will not. This is all political theatre. Unfortunately we have way too many dumbasses in America. but lockdowns of any kind might spook the markets.

Look gang, I've had covid. If you have a prolonged headache and run a fever, then go get your brain scraped. When you test positive, request Regeneron's monoclonal antibody treatment. They'll approve it. The 24 hours after the IV will suck, but the next day it'll feel like you never had covid, except your energy may be drained.
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agdaddy04
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In reply to ProgN • 6:23p, 11/30/21
AG
I don't think even blue states will "shut down" - at least I hope not sine I live in Colorado. People are sick of it.
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tailgatetimer10
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In reply to Irish 2.0 • 6:33p, 11/30/21
AG
You got to be ****ing kidding me.
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OutlawAG04
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In reply to ProgN • 6:49p, 11/30/21
ProgN said:
Aggiesincebirth said:
ProgN said:
Aggiesincebirth said:
I've been adding to WWR for months as it has fallen. Like heavy and then it drops 5% then it falls. Then I add and it falls. I really want to know what the hell is going on here. I mean we had the "load up before it takes off" then it bounced 15% the. Dropped 30%. I'm in it for the long run, but it's had like 4 Green Day's in the last 4 months. Even with good news the stock drops. I'm hoping it's retail selling.

The mass accumulation stocks have taken a beating… It's just been a hard 6 months. If I loved it at $4 I should really love it at $2.80 but I mean it just keeps falling lol.

End of rant. Still believe in the company but the stock is annoying
Don't expect it or any stocks at their 52 wk lows to show any strength until Jan '22. Those are the stocks people cull for tax losses. That's why I'm waiting to buy until the last week of December. The downside pressure over the next few weeks isn't indicative of their potential. It's just tax reasons.


Very fair and appreciate the level headdedness. I think the fear is that we sell then it goes up 20% and you start chasing it. That's the thing I don't want to do.
The more likely outcome is that these stocks will drop further as more people will sell for tax reasons. Expect them to go lower, unless they get bought out.

WWR has an operation and a market for their product with all the EV hysteria. I also expect it to be under pressure in December because of tax decisions, even if the Nasdaq goes up 1,000 points. My plan is to buy 10K shares the last few days of December. I don't care if it's at $2 or $4 per share because I can see OA's vision and I'll plant it and forget it.



Is there a reason you wouldn't wait until first few days of January?
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cisgenderedAggie
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In reply to ProgN • 6:50p, 11/30/21
ProgN said:
AG 2000' said:
Irish 2.0 said:
It's a modern scientific miracle! One week after discovering there's a new variant, we're going to be able to test for it.

Expect blue states to shutdown, but red states will not. This is all political theatre. Unfortunately we have way too many dumbasses in America. but lockdowns of any kind might spook the markets.

Look gang, I've had covid. If you have a prolonged headache and run a fever, then go get your brain scraped. When you test positive, request Regeneron's monoclonal antibody treatment. They'll approve it. The 24 hours after the IV will suck, but the next day it'll feel like you never had covid, except your energy may be drained.


FYI…If the variant escapes vaccine immunity, Regeneron's treatment is also likely to suffer similar loss of potency. Not that that should be taken as reason to be terrified. All indications (too early) are that it's not going to be as severe. Just consider the totality of what antigen escape would mean.
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SoTXAg09
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In reply to FTAG 2000 • 8:01p, 11/30/21
AG
AG 2000' said:
Irish 2.0 said:
It's a modern scientific miracle! One week after discovering there's a new variant, we're going to be able to test for it.


I'm not seeing anything in the tweet that says they're testing for Omicron specifically?
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ProgN
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In reply to OutlawAG04 • 8:14p, 11/30/21
No reason really other than buyers tend be more excited at the beginning of the year and there really isn't a reason to sell in January for tax loss purposes. I think selling pressure will subside and I'd like to establish a position for '22.
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ProgN
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In reply to cisgenderedAggie • 8:20p, 11/30/21
cisgenderedAggie said:
ProgN said:
AG 2000' said:
Irish 2.0 said:
It's a modern scientific miracle! One week after discovering there's a new variant, we're going to be able to test for it.

Expect blue states to shutdown, but red states will not. This is all political theatre. Unfortunately we have way too many dumbasses in America. but lockdowns of any kind might spook the markets.

Look gang, I've had covid. If you have a prolonged headache and run a fever, then go get your brain scraped. When you test positive, request Regeneron's monoclonal antibody treatment. They'll approve it. The 24 hours after the IV will suck, but the next day it'll feel like you never had covid, except your energy may be drained.


FYI…If the variant escapes vaccine immunity, Regeneron's treatment is also likely to suffer similar loss of potency. Not that that should be taken as reason to be terrified. All indications (too early) are that it's not going to be as severe. Just consider the totality of what antigen escape would mean.
I don't want a debate on this thread, but I already consider the vaccines worthless garbage. I have no doubt that Omicron is extremely contagious but the reports from doctors on the ground in SA imply it's mild. That's what respiratory virus do. They mutate and easy to spread but their lethality decreases.
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E
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8:49p, 11/30/21
AG
Getting married in Hawaii in April… these travel shutdowns better fade fast
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azul_rain
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In reply to E • 9:10p, 11/30/21
Maui ?
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BaylorSpineGuy
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9:26p, 11/30/21
What's everyone's opinion on the IWM? TZA calls may be a good option to trade if all our small caps getting shredded.

TZA is a 3x bear leverage position of the Small caps. Does anyone trade this? Do we expect the Russell to recover soon. It had a big run early last year but right now seems like FAANG is holding this market up.
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emac0002
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In reply to BaylorSpineGuy • 9:40p, 11/30/21
AG
BaylorSpineGuy said:
What's everyone's opinion on the IWM? TZA calls may be a good option to trade if all our small caps getting shredded.

TZA is a 3x bear leverage position of the Small caps. Does anyone trade this? Do we expect the Russell to recover soon. It had a big run early last year but right now seems like FAANG is holding this market up.
Careful with the leverage ETF positions. They are meant for short term trades and will decay.
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Brewmaster
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In reply to agdaddy04 • 9:41p, 11/30/21
AG
agdaddy04 said:
I don't think even blue states will "shut down" - at least I hope not sine I live in Colorado. People are sick of it.
there's a decent chance a Trump or Bush judge will strike any EO lockdowns down. 2 federal judges, back to back, just shut down his vaxx mandate for healthcare workers (nationwide). The 2nd judge basically told Biden to go pound sand, it is unconstitutional. They will get nothing they want done in this term. They have a higher likelihood of being impeached (both).

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Brewmaster
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In reply to ProgN • 9:45p, 11/30/21
AG
ProgN said:

I don't want a debate on this thread, but I already consider the vaccines worthless garbage. I have no doubt that Omicron is extremely contagious but the reports from doctors on the ground in SA imply it's mild. That's what respiratory virus do. They mutate and easy to spread but their lethality decreases.
bingo! spot on. Wish I could teach some liberal family members this.

that and the amazing thing called an immune system (and antibodies still exist!).
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E
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In reply to azul_rain • 10:04p, 11/30/21
AG
hedge said:
Maui ?


Kauai
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Philip J Fry
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In reply to E • 10:07p, 11/30/21
AG
The correct island to visit.
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$30,000 Millionaire
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10:56p, 11/30/21
AG
IWM is -3 ATR. Short at your own risk.
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Philip J Fry
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2:05a, 12/1/21
AG
What's the consensus with DNN? I was expecting a healthy bounce off the channel support line, but it pretty much just blew through it. Is there news besides a mild variant of Covid with a scary name out there?
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austinAG90
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7:27a, 12/1/21
AG
Wednesday Macros

Markets reacted to the new Powell Hawkishness... He has now ditched the word transitory, and has come out swinging... We feared he felt boxed in as just as he was beginning to tighten, excuse us, remove accommodation, but he came out definitively worried more about inflation than Covid...In fact he seemed more concerned by a Covid related supply chain increase than a destruction of demand... He is tightening, the gloves are off for now...Markets flattened first and that has continued this morning... 5/30, which we focus on, is now down to 60... Our expectation is 56, based on charts...

10 years rallied to 1.50 overnight. We see 1.43 as resistance today, while 1.52 is weak support , with 1.60 behind that...remember one week ago the 10 year peaked at 1.69... And 5 years look to be in a 1.34-1.04 range for now... But with the Fed to discuss accelerating tapering, we think higher yields are in store.... Many view the Fed now has made a policy mistake... In many ways we agree with that, but we are looking forward... And it seems like the Fed has prioritized inflation over Covid for now... We continue to believe the war continues between the two...

Omicron...Israel... Data this morning out of Israel shows that vaccinated people have only mild symptoms of Covid...according to channel 12... " the Pfizer vaccine is just slightly less effective in preventing infection with Omicron than with Delta...90% as opposed to 95%, while it is 93% effective with the Booster in preventing serious symptoms"... One can wait for the WHO, but the equity markets are already rallying.

December is a good month for equities... The latter half of the month is better than the first half... Nonetheless, the Russell 2000 did hit corrective territory, other averages not really close... Today we are seeing a nice 56 point move up in S+P futures... It will be choppy, but we expect a rally for December...

Corporate bonds new issues were shut out yesterday due to the volatility... Spreads widened 7 OAS according to BB... We saw weakness across the curve. HY spreads are better by 5 this morning according to CDX... Global Junk Bonds had their worst November in 10 years. The yield on the debt widened 50 basis points to 4.89...

sorry for the lateness ADP already is out... Inline... Powell up again and employment on Friday... The chop will continue
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gougler08
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7:34a, 12/1/21
AG
Thanks as always austinAG! This is really good data but the cynical side of me wonders if our leaders will actually use it:

Omicron...Israel... Data this morning out of Israel shows that vaccinated people have only mild symptoms of Covid...according to channel 12... " the Pfizer vaccine is just slightly less effective in preventing infection with Omicron than with Delta...90% as opposed to 95%, while it is 93% effective with the Booster in preventing serious symptoms"... One can wait for the WHO, but the equity markets are already rallying.
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FTAG 2000
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In reply to Philip J Fry • 8:02a, 12/1/21
AG
Philip J Fry said:
What's the consensus with DNN? I was expecting a healthy bounce off the channel support line, but it pretty much just blew through it. Is there news besides a mild variant of Covid with a scary name out there?
All the small caps have been getting hammered.

Think the year end tax loss harvesting is also in play.
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E
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In reply to Philip J Fry • 8:13a, 12/1/21
AG
Philip J Fry said:
The correct island to visit.


Unless CLOV, ELOX, WWR keep sh***ing the bed then we're gonna have to do the wedding at L&L Hawaiian BBQ in Houston
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cageybee77
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8:20a, 12/1/21
AG
did "we" say that december was good for bank/financial stocks the other day (seasonal graph). anybody buying in? looking at FITB ......have made some $ off of this one in the past.
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azul_rain
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In reply to cageybee77 • 8:21a, 12/1/21
IMO I would assume it's a good month, lotta travel and people buying from retail for parties and gatherings. That being said this omnicron BS threw a wrench in the dryer and anything goes
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Triple_Bagger
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8:28a, 12/1/21
Powell speaking again today at 9:00am
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Maximus_Meridius
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In reply to Triple_Bagger • 8:32a, 12/1/21
AG
Triple_Bagger said:
Powell speaking again today at 9:00am
I gotta get this off my chest...

Yesterday McFly posted that Powell was dropping the "transitory" from inflation. At that time, I looked at 12/3 SPY 463 Puts, and aaaallllmmmoooosst bought a few. Price was about $3.25. I didn't. Could have sold after lunch for over $7.

I'm still sick. I don't even know why I didn't do it, aside from fear that I'd miss my mark (big project has been destroying my life the last 3 months...).
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n_touch
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In reply to E • 8:33a, 12/1/21
If your banking on CLOV and ELOX you best be planning on serving McRibs in 1/3 sections.
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Triple_Bagger
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In reply to Maximus_Meridius • 8:36a, 12/1/21
I do this far too often. See an expensive premium and decide not to buy because that's more that I want to lose, not thinking that I can just set a stop loss at the amount I'm comfortable with. There will always be another trade. Don't sweat it.
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Spoony Love
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8:37a, 12/1/21
AG
If AAPL gets a dip after Powell speaks, I'll be buying weekly just OTM.
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Brewmaster
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8:56a, 12/1/21
AG
JPow about to speak... markets look semi stable, not much flow though.

just say the word "inflation" JPow, lol.
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