Word to the wise....Added to my SMCI position when it was down to $24. Sold the equivalent number of higher cost shares I'd been holding when the stock came back up last week in order to take the loss on those higher basis shares. The buying of the lower cost shares and the sale of the higher cost shares occurred within 30 days so Schwab disallowed my loss as a wash sale. I thought wash sales only occurred when you sold for a loss and rebought within 30 days.
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Last: 1 min ago by Brewmaster
30 day window in either direction.
For tax purposes, your disallowed loss is built into the cost basis of the shares you're currently holding. You'll still get the benefit when you sell those.
For tax purposes, your disallowed loss is built into the cost basis of the shares you're currently holding. You'll still get the benefit when you sell those.
would someone mind taking a look at the OKTA chart?
it looks like it's bumping up against a R/S level, but is it also breaking out of a recent pendant (past 3 months)?
it looks like it's bumping up against a R/S level, but is it also breaking out of a recent pendant (past 3 months)?
Congrats ProgN.
Just to add onto this post, after further considering the repercussions of their press release, it does make me feel better about what BDO audit will be.ProgN said:They released summary of internal committee findings and yet encouraging, it really doesn't mean anything yet. The BDO audit and releasing actual figures to the SEC will be all that matters.Number Monkey said:
Guess the CFO is the scapegoat as they announced they're looking for a new one. Would've preferred they hire a new CEO...
The CEO, Board, and all upper management publicly opened themselves to significant risk with this PR. If BDO's audit doesn't match their 'internal independent review' and what they report to the SEC, then all of them are susceptible to being sent to 'Federal pound you in the ass prison'.
I am not buying more, but it does explain the dramatic price movement today. If they get sent to prison, then I will lose a ****ton of money, but if BDO confirms, then the short squeeze could be epic. JMO on this unfortunate situation.
All I can guess is play support at 375 ish, rinse and repeat. But I'm betting he just played the dip this morning w/ a hefty sized scalp, that was a 2% gain, but probably a nice pile of cash knowing 30k.Ragoo said:can you please expand what you see here charting?$30,000 Millionaire said:
MSTR is my favorite of the moment for day trading. It generally gives clean level to level moves on fake breakdowns.
Did 382.5 -> 390 today.
I'd rather play IBIT dip or TSLA dip. I'm up 2.5% right now on new TSLT shares bought this morning.
BTC 100k before Christmas and TSLA 400 by the new year!
SMCI, holy smokes volume, everyone and their grandma buying it now.
I want CLSK $11 and MARA $20 with BTC under $90k but over $80k. If so, I will re-engage MARA and double my CLSK position looking for $42 MARA, $30 CLSK, and $120k-$130k BTC around Jan/Feb.
Do we see Tesla going down still or cut my losses on TSLZ? Down almost 25% since started buying it
ThanksBrian Earl Spilner said:
Congrats ProgN.
42.75 is my B/E on SMCI. Do I hold to 50? 100?
Most on here down have much success investing in leveraged ETF's (bear or bull). Holding these over time is risky. I've rarely won on them. Currently have a little TMF and am down 4%.idAg09 said:
Do we see Tesla going down still or cut my losses on TSLZ? Down almost 25% since started buying it
As far as Tesla goes, no clue. I hold a small position of TSLA, I'm sure almost everyone here holds at least a few shares as well.
S&P volume today a shadow of its usual self. Market is full bullish. Nothing left to add. Also means there will be very little liquidity to buy the dips. All these fund managers are going to need to be happy if they get 80 cents on every dollar when this thing reverses. Value showing today is not what will be realized.
that was just a hedge Heineken had against shares bought. I cut mine around 340. I'm long TSLA though. Next time try to set a stop on it.idAg09 said:
Do we see Tesla going down still or cut my losses on TSLZ? Down almost 25% since started buying it
100 or death!AgShaun00 said:
42.75 is my B/E on SMCI. Do I hold to 50? 100?
This may shock some, but after today's volume, I bet it goes to 100, not in a straight line up, but it is headed there.
Correct. I was selling premium. And I haven't been able to buy it back. Might not get to unless the next top happens before Jan expiration with a massive drop to follow. Or unless it can get going downhill soon and fast. So if it breaks to a new high and above $365, I'm buying shares long one of the levered ETF's for the potential direct run to $410-$420 range. If it resumes down, I really want $290.Brewmaster said:that was just a hedge Heineken had against shares bought. I cut mine around 340. I'm long TSLA though. Next time try to set a stop on it.idAg09 said:
Do we see Tesla going down still or cut my losses on TSLZ? Down almost 25% since started buying it
Here's what I'm worried about..
A potential sizeable drop in the next 1-2 weeks. This would be bigs starting to unwind and book gains to pad their stats and generate top bonuses before year end mixed with some tax loss harvesting. Retail would then buy the dip, possibly with the tiny tiny bit on the sidelines going all in, only to be trapped in the first half of January when SHTF and this thing reverses hard with no liquidity to backstop it.
Not a prediction. Just something I've been mulling.
A potential sizeable drop in the next 1-2 weeks. This would be bigs starting to unwind and book gains to pad their stats and generate top bonuses before year end mixed with some tax loss harvesting. Retail would then buy the dip, possibly with the tiny tiny bit on the sidelines going all in, only to be trapped in the first half of January when SHTF and this thing reverses hard with no liquidity to backstop it.
Not a prediction. Just something I've been mulling.
I entered a couple of positions today, sorry about not posting sooner, just been busy and these were limit orders set over the break that executed during the day. entered into these based on the look of the 3 year, weekly charts:
EXTR shares, looking for 20.39 as first target
EXPI shares, looking for 15.67 as first target
MP shares and Jan 22.5 strike options; first target on shares is 25.37 and looking for 50% gain on the options
Curious to get any thoughts from others on these plays or just provide some ideas for others to check out
EXTR shares, looking for 20.39 as first target
EXPI shares, looking for 15.67 as first target
MP shares and Jan 22.5 strike options; first target on shares is 25.37 and looking for 50% gain on the options
Curious to get any thoughts from others on these plays or just provide some ideas for others to check out
Heineken-Ashi said:
...only to be trapped in the first half of January when SHTF and this thing reverses hard with no liquidity to backstop it.
Also a handful of fragile geopolitical downside catalysts floating around for Q1. If we don't get a healthy pullback this month, I think things are more bubbly in Jan-Feb.
On top of getting clean opinions from BDO they still have to get through the DOJ probe and there will also probably be a formal SEC inquiry as they get closer to filing (which could be awhile given they have a new firm which will be starting the audit and reviews from scratch).ProgN said:Just to add onto this post, after further considering the repercussions of their press release, it does make me feel better about what BDO audit will be.ProgN said:They released summary of internal committee findings and yet encouraging, it really doesn't mean anything yet. The BDO audit and releasing actual figures to the SEC will be all that matters.Number Monkey said:
Guess the CFO is the scapegoat as they announced they're looking for a new one. Would've preferred they hire a new CEO...
The CEO, Board, and all upper management publicly opened themselves to significant risk with this PR. If BDO's audit doesn't match their 'internal independent review' and what they report to the SEC, then all of them are susceptible to being sent to 'Federal pound you in the ass prison'.
I am not buying more, but it does explain the dramatic price movement today. If they get sent to prison, then I will lose a ****ton of money, but if BDO confirms, then the short squeeze could be epic. JMO on this unfortunate situation.
This is just getting started and kind of surprised they released this statement in light of that.
https://www.cnbc.com/2024/12/02/tesla-ceo-elon-musk-loses-bid-to-get-56-billion-pay-package-reinstated.html
This is breaking news, but for you TSLA traders, keep this in mind that Musk has previously stated that if didn't get this pay package that he would consider withdrawing from TSLA entirely and focusing on his other interests. He'd probably plow all his focus into 'XAI'.
Quote:
Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated
This is breaking news, but for you TSLA traders, keep this in mind that Musk has previously stated that if didn't get this pay package that he would consider withdrawing from TSLA entirely and focusing on his other interests. He'd probably plow all his focus into 'XAI'.
I'm in complete agreement and that's why I posted that I'm not adding shares at this time. They still have several hurdles in front of them before they'll have the all clear. The DOJ probe is reason why I think their DBO audit and SEC report will be closer to what they reported today because if not, I will lose a lot of money but they will lose their freedom. They also couldn't put that report out today for a pump and dump of their personal shares, because if fraud was committed, then the government will claw back all those gains on their way to prison.Ag CPA said:On top of getting clean opinions from BDO they still have to get through the DOJ probe and there will also probably be a formal SEC inquiry as they get closer to filing (which could be awhile given they have a new firm which will be starting the audit and reviews from scratch).ProgN said:Just to add onto this post, after further considering the repercussions of their press release, it does make me feel better about what BDO audit will be.ProgN said:They released summary of internal committee findings and yet encouraging, it really doesn't mean anything yet. The BDO audit and releasing actual figures to the SEC will be all that matters.Number Monkey said:
Guess the CFO is the scapegoat as they announced they're looking for a new one. Would've preferred they hire a new CEO...
The CEO, Board, and all upper management publicly opened themselves to significant risk with this PR. If BDO's audit doesn't match their 'internal independent review' and what they report to the SEC, then all of them are susceptible to being sent to 'Federal pound you in the ass prison'.
I am not buying more, but it does explain the dramatic price movement today. If they get sent to prison, then I will lose a ****ton of money, but if BDO confirms, then the short squeeze could be epic. JMO on this unfortunate situation.
This is just getting started and kind of surprised they released this statement in light of that.
They either slammed their johnson on the table with confidence this morning, or they put it in a guillotine.
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Good Morning Traders,
Here is some *checks notes* Tuesday motivation for you!
Here is some *checks notes* Tuesday motivation for you!
When you're all in with leverage and no stops.pic.twitter.com/OYm2LPvcoy
— Sven Henrich (@NorthmanTrader) December 3, 2024
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Depending what he's in, that lion may get catapulted to the moon
Aggie football in pictures.Charismatic Megafauna said:
Depending what he's in, that lion may get catapulted to the moon
Collin Klein calling run up the gut over and over again is the lion...
Weird flash dip.
prolly the South Korea news...some scary geopolitical events brewing out there...Brian Earl Spilner said:
Weird flash dip.
bought shares of CRSR with 1st target at 9.37
ProgN said:
https://www.cnbc.com/2024/12/02/tesla-ceo-elon-musk-loses-bid-to-get-56-billion-pay-package-reinstated.htmlQuote:
Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated
This is breaking news, but for you TSLA traders, keep this in mind that Musk has previously stated that if didn't get this pay package that he would consider withdrawing from TSLA entirely and focusing on his other interests. He'd probably plow all his focus into 'XAI'.
Imagine if Musk sold his 20% stake, then after it's announced, bought back a much larger stake much cheaper. I know the mechanics with that much size aren't easy, got to think it's crossed his mind after this.
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No doubt he's done it multiple times over the years
for once I hope many of you bag held a name:
SMCI
holy volume batman! it just bounced off the 100 day (46ish) and probably needs to cool off for a few days, but looking great.
SMCI
holy volume batman! it just bounced off the 100 day (46ish) and probably needs to cool off for a few days, but looking great.
Anybody else in DJT? It hasn't done much since the dip after the election, but I'm up 12% as of today and trying to figure out a target. It's at $34 and post election bump took it to $45. May just put a stop in at a respectable gain and hope for the best unless any of you technical guys have some insight.
well, you called that swift cooling off 
SHH we are hunting for SMCI recover to triple digits. Don't look at are it will get scared and run back down the ladder.
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