cptthunder said:

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Everyone just licking there wounds..... mighty quite here

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OKC~Ag said:

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so...Does this mean red hot Texas real estate market will also implode soon?

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tailgatetimer10 said:

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What location are you referring to?

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I'm told from someone senior at a major firm that the selling is primarily being driven by $12b to $15b of levered ETF flows into the close, most of which was said to be Nasdaq.

Driven by the big move in rates.

Selling risk really hard. More on @CNBCOvertime

— Scott Wapner (@ScottWapnerCNBC) May 5, 2022

$30,000 Millionaire said:

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The popular trade never works, by the way.

Hey Prog - are you still in $CVNA? I just looked at it - WOW.

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Dan Scott said:

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CNBC Markets in Turmoil Special tonight. Usually means we've bottomed out.

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$30,000 Millionaire said:

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The popular trade never works, by the way.

Hey Prog - are you still in $CVNA? I just looked at it - WOW.

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Dan Scott said:

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CNBC Markets in Turmoil Special tonight. Usually means we've bottomed out.

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Bob Knights Liver said:

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Either selling levered long ETFs like TQQQ or QLD or folks buying levered short ETFs like SQQQ.

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Jet Black said:

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Bob Knights Liver said:

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Either selling levered long ETFs like TQQQ or QLD or folks buying levered short ETFs like SQQQ.

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So sell or buy short near the low.

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Triple_Bagger said:

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tailgatetimer10 said:

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What location are you referring to?

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Austin

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kyle field 94 said:

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Farmer @ Johnsongrass, TX said:

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jj9000 said:

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I know you're a divy king.

Have you ever looked at XYLD?

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I have not looked at XYLD. It's on my list to review. I have a friend that is getting solicited by an AG Edwards and an Edward Jones guy(s) to get in XYLD and he asked me to look at it. The Edwards and Jones fellows are in his golf foursome and they're always bringing him something to buy. Haven't had a chance yet to review. I'm preparing my McLennan County tax protest evidence with one eye and watching XOM with the other. Not making any progress on either!

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I own xyld, ryld, qyld. They are all covered call etfs. They basically pay out distributions each month as described.

However, I did learn a big and semi expensive lesson, but not that I would have done much differently. I ended up calling and speaking to the tax people at Global Funds who run these 3 etfs. In 2020, due to the way that the market behaved, the distributions were heavy Return of. Capital, as they published in their 19-a filings. This is perfect, as it behaved like an Mlp, where you receive distributions and your cost basis goes down without owing any taxes for income.

In 2021, every month they published that the distributions were return of capital in their 19-a filings. However at the end of the year, when the information (1099) was distributed to the brokerage shops, all the monthly distributions were almost 100% non qualified gains (or highest ordinary rate based on your personal tax filings)

So, I ended up owing a lot of taxes on these distributions when I thought that they would be tax deferred distributions..

So don't believe the 19-a filings, but I think that they have actually started to correctly pivot the filings after this issue.

So, what I have done is start to invest more of the qyld, xyld, ryld etf in my Roth IRA. Never have to pay taxes on the 10-12% yearly returns, but the flip side is that it will never make tons of money greater than the 10-12% distributions.

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jimmo said:

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kyle field 94 said:

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Farmer @ Johnsongrass, TX said:

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jj9000 said:

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I know you're a divy king.

Have you ever looked at XYLD?

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I have not looked at XYLD. It's on my list to review. I have a friend that is getting solicited by an AG Edwards and an Edward Jones guy(s) to get in XYLD and he asked me to look at it. The Edwards and Jones fellows are in his golf foursome and they're always bringing him something to buy. Haven't had a chance yet to review. I'm preparing my McLennan County tax protest evidence with one eye and watching XOM with the other. Not making any progress on either!

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I own xyld, ryld, qyld. They are all covered call etfs. They basically pay out distributions each month as described.

However, I did learn a big and semi expensive lesson, but not that I would have done much differently. I ended up calling and speaking to the tax people at Global Funds who run these 3 etfs. In 2020, due to the way that the market behaved, the distributions were heavy Return of. Capital, as they published in their 19-a filings. This is perfect, as it behaved like an Mlp, where you receive distributions and your cost basis goes down without owing any taxes for income.

In 2021, every month they published that the distributions were return of capital in their 19-a filings. However at the end of the year, when the information (1099) was distributed to the brokerage shops, all the monthly distributions were almost 100% non qualified gains (or highest ordinary rate based on your personal tax filings)

So, I ended up owing a lot of taxes on these distributions when I thought that they would be tax deferred distributions..

So don't believe the 19-a filings, but I think that they have actually started to correctly pivot the filings after this issue.

So, what I have done is start to invest more of the qyld, xyld, ryld etf in my Roth IRA. Never have to pay taxes on the 10-12% yearly returns, but the flip side is that it will never make tons of money greater than the 10-12% distributions.

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If you own these funds in an IRA .. are these tax implications moot?
just pay tax as usual at distribution?

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$AAPL Aged well.
FAT finger trades are unique in indexes overweighted names and you’ll have to work hard on deciphering their probabilities after print.
I can almost say that FAT FINGER trade after yesterday’s close TELEGRAPHED todays market carnage 😉 https://t.co/iM2cfbJTZ6 pic.twitter.com/TlQDC1AdQL

— HiddenPivots (@HiddenPivots) May 6, 2022

agdaddy04 said:

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Unfortunately I've been away from the thread for the last month because work has been crazy busy. My account sure is suffering because of it. Just curious but has there been any particular news on SAVA or is it just tanking like the rest of the market?

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