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FTAG 2000
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4:12p, 12/1/21
AG
2 year weekly on /NQ. More pain to come?

Also note the head and shoulders here recently.


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cageybee77
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4:25p, 12/1/21
AG
What a crap day. Stopped out early and was pissed about it…..now I'm like thank freekin gawd. But dang- when to get back in??
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Dan Scott
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4:26p, 12/1/21
AG
My old friend DWAC us running.

Exclusive: Trump's social media venture seeks $1 billion raise, sources say | Reuters
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cageybee77
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4:42p, 12/1/21
AG
lol TRIT gonna have a negative P/E ratio soon. down to .68
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E
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4:46p, 12/1/21
AG
PHUN and BENE
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FTAG 2000
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4:48p, 12/1/21
AG
SPY. Long term (multi-year) trend lines below. Support level from the second half of this year. All converging roughly 443.20.

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Bob Knights Paper Hands
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In reply to BlueTaze • 4:52p, 12/1/21
BlueTaze said:
WWR end of year ag loss selling

Would've seen $5 if only we'd taken care of business in Baton Rouge.
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Ags2013
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In reply to Bob Knights Paper Hands • 4:54p, 12/1/21
AG
Bob Knights Liver said:
BlueTaze said:
WWR end of year ag loss selling

Would've seen $5 if only we'd taken care of business in Baton Rouge.
JIMBO
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Charismatic Megafauna
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5:03p, 12/1/21
AG
The debt ceiling gridlock can't be helping
Everybody loves a dirt road
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FTAG 2000
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In reply to Charismatic Megafauna • 5:05p, 12/1/21
AG
Charismatic Megafauna said:
The debt ceiling gridlock can't be helping
Eh, the market was doing well today until the OMGicron strain in CA news.

Cratered from there. Even made it through Yellen and JPowell testifying before Congress all morning with things on the uptrend.
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Charismatic Megafauna
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5:47p, 12/1/21
AG
The bicycle chart seems to have a flat tire
Everybody loves a dirt road
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gougler08
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6:17p, 12/1/21
AG
So is the general consensus to sell WWR for tax loss harvesting and buy back in early Jan after the wash sale clears?
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Dan Scott
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6:43p, 12/1/21
AG
Let's say you bought a stock at $10 and now it is $7. You decide to sell to get the tax loss, but you're worried you are selling at the bottom and it'll rally after you sell. Can you then also sell a January put at strike price $10 for $3.50?

By selling the stock, you get your tax loss. If the stock rallied after you sell within the 1 month, you still at least have some exposure and could get back to even while still getting the tax loss when the value of the put sold declines. And if the stock tanks to $5, you're forced to buy back what you sold at $7 at a net cost of $6.50 and still get your tax loss.

Is that possible or not allowed?
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Bob Knights Paper Hands
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In reply to Dan Scott • 6:47p, 12/1/21
I think for sure if the sold puts were allowed to execute, you'd be buying shares so wash sale rules would apply. If you sold the puts and then bought them back before the expiration that might work. Or the fact that you bought to close the puts might fall under wash sale rules. Good question!
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ProgN
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In reply to Dan Scott • 6:56p, 12/1/21
Dan Scott said:
Let's say you bought a stock at $10 and now it is $7. You decide to sell to get the tax loss, but you're worried you are selling at the bottom and it'll rally after you sell. Can you then also sell a January put at strike price $10 for $3.50?

By selling the stock, you get your tax loss. If the stock rallied after you sell within the 1 month, you still at least have some exposure and could get back to even while still getting the tax loss when the value of the put sold declines. And if the stock tanks to $5, you're forced to buy back what you sold at $7 at a net cost of $6.50 and still get your tax loss.

Is that possible or not allowed?
I've been out of the industry a longtime so I don't know for sure. My advice is if you dump it, just take it off your screen for 31 days just to be safe. It's greater than 90% that stocks like that will not rally in December unless they're bought out. It's better to dump and delete ticker than ****ing up a tax loss. Honestly, dumping it now will more than likely be at a higher price than December 31st. JMO.


ETA: Sorry if this comes across as rude, but if you've ridden a stock down then dump it now. It's hard to book a big loss but you're doing yourself more damage if you don't.

Think back if you bought a stock at $10, it spiked to $21.79, but your sell order was at $22. Then you're still holding it now at $5, killing live chickens in the hope it goes back. Let me tell you, it's probably won't within 31 days. That being said, sell it and keep that cash separate and wait. You'll more than likely be able to buy back the exact same shares for the same money you sold it for but now you have a booked loss to use against gains or ordinary income with carryover into future tax years.

Remove emotion and pride and you'll be way more profitable. No one wins every trade and if someone says they do, they're lying MFers.

Just my advice
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3 edits
H-town ag
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7:15p, 12/1/21
AG
Serious question for those still holding ELOX ... I thought they were supposed to have some results by year end? Is that still the case?
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Ragoo
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7:17p, 12/1/21
AG
I am so freaking pissed at not holding my QQQ 398p.
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ProgN
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In reply to Ragoo • 7:22p, 12/1/21
If we open up deep red tomorrow, wait 20-30 mins, and QQQ and SPY calls would be the play for a trade.
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Ragoo
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In reply to ProgN • 7:26p, 12/1/21
AG
I hear you. I'd love a flash to 385 and load up 390c for Friday. Probably close the week 395

Or he'll breaks loose and I try and flips puts again.
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azul_rain
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8:17p, 12/1/21
I think this has been my worst week since 2020
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Ragoo
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In reply to azul_rain • 8:22p, 12/1/21
AG
Trading or longs? I am not even worried about long holds. I sold calls a few weeks back out a year or more. Just milking those now.
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AggieBaseball06
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In reply to azul_rain • 8:35p, 12/1/21
AG
hedge said:
I think this has been my worst week since 2020


Huh...You don't say?
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Brewmaster
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In reply to Ragoo • 8:47p, 12/1/21
AG
Ragoo said:
I hear you. I'd love a flash to 385 and load up 390c for Friday. Probably close the week 395

Or he'll breaks loose and I try and flips puts again.
the last few times the Q's pulled back, they tested the 100 day, currently at 374. Maybe we get a dead cat bounce off 385 in the morning, then opportunity to load more puts.
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AgCPA95
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In reply to Dan Scott • 8:50p, 12/1/21
AG
Dan Scott said:
Let's say you bought a stock at $10 and now it is $7. You decide to sell to get the tax loss, but you're worried you are selling at the bottom and it'll rally after you sell. Can you then also sell a January put at strike price $10 for $3.50?

By selling the stock, you get your tax loss. If the stock rallied after you sell within the 1 month, you still at least have some exposure and could get back to even while still getting the tax loss when the value of the put sold declines. And if the stock tanks to $5, you're forced to buy back what you sold at $7 at a net cost of $6.50 and still get your tax loss.

Is that possible or not allowed?

This is right out of IRS publication 550. See #3 on what could create a wash sale.

A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you:
[ol]
  • Buy substantially identical stock or securities,
  • Acquire substantially identical stock or securities in a fully taxable trade,
  • Acquire a contract or option to buy substantially identical stock or securities, or
  • Acquire substantially identical stock for your individual retirement arrangement (IRA) or Roth IRA.
    • [/ol]
    Disclaimer - I'm not your CPA, consult your CPA.
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    $30,000 Millionaire
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    8:55p, 12/1/21
    AG
    Just saw the market. Yowza.
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    azul_rain
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    In reply to Ragoo • 9:01p, 12/1/21
    longs, not really worried but it still sux
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    wanderer
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    In reply to gougler08 • 9:02p, 12/1/21
    gougler08 said:
    So is the general consensus to sell WWR for tax loss harvesting and buy back in early Jan after the wash sale clears?
    That'd be my consideration but I have $5 Feb puts sold and $2.50 May '22 calls that I have over the past few months. I could buy back the puts and sell the calls (in order to satisfy wash sale), but it seems like now isn't the time....
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    Dan Scott
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    In reply to AgCPA95 • 9:05p, 12/1/21
    AG
    AgCPA95 said:
    Dan Scott said:
    Let's say you bought a stock at $10 and now it is $7. You decide to sell to get the tax loss, but you're worried you are selling at the bottom and it'll rally after you sell. Can you then also sell a January put at strike price $10 for $3.50?

    By selling the stock, you get your tax loss. If the stock rallied after you sell within the 1 month, you still at least have some exposure and could get back to even while still getting the tax loss when the value of the put sold declines. And if the stock tanks to $5, you're forced to buy back what you sold at $7 at a net cost of $6.50 and still get your tax loss.

    Is that possible or not allowed?

    This is right out of IRS publication 550. See #3 on what could create a wash sale.

    A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you:
    [ol]
  • Buy substantially identical stock or securities,
  • Acquire substantially identical stock or securities in a fully taxable trade,
  • Acquire a contract or option to buy substantially identical stock or securities, or
  • Acquire substantially identical stock for your individual retirement arrangement (IRA) or Roth IRA.
    • [/ol]
    Disclaimer - I'm not your CPA, consult your CPA.


    Thanks. That answered my question. I think Prog has the right idea
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    ProgN
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    In reply to $30,000 Millionaire • 9:10p, 12/1/21
    $30,000 Millionaire said:
    Just saw the market. Yowza.
    Market was in full Santa rally mode until the little doom goblin ***** Fauci ****ed it up for everyone.
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    BaylorSpineGuy
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    9:16p, 12/1/21
    AAPL announced tonight that demand for their new phones has been lower.

    Curious report in light of the shooting star candle today. Hard to short AAPL but an ATM weekly put may print.
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    azul_rain
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    In reply to BaylorSpineGuy • 9:16p, 12/1/21
    doubling down
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    BaylorSpineGuy
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    In reply to azul_rain • 9:24p, 12/1/21
    In which direction?
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    azul_rain
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    In reply to BaylorSpineGuy • 9:40p, 12/1/21
    up
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    Triple_Bagger
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    In reply to BaylorSpineGuy • 9:43p, 12/1/21
    Just a rumor. Bloomberg reported it from anonymous sources and Apple declined to comment. Not saying it's not true, but it didn't come from an Apple announcement.
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    agdaddy04
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    In reply to BaylorSpineGuy • 9:57p, 12/1/21
    AG
    We just ordered two and they're a month out from delivering. Seems like they were going quick, but who knows. Also first time in a long time I remember them doing a full credit for trade in. We have iPhone 8's and received $800 credit for them.
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