Sanrith Descartes
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My limit hit and I sold half my position at 100% profit. Keeping the other half for the long term at a cost basis of 0.
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Investing General Discussion
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Furry
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Personal experience. AAL traffic jumped considerably at the start of this week. Probably +100% from a week ago and I've heard some pilots complaining about flights being full during the pandemic. But to stress things, still a lot of cargo conversions and it's still at around only 30-40% of typical passenger traffic. No idea what this means for AAL financials or if it will get good enough fast enough for them to recover in a timely fashion, but things are moving consistantly the right way at the ground level.
Sanrith Descartes
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SHLL closes at $31.84 up 29.6%
I started a position today in NFIN. Another SPAC that signed a non-binding LOI to meege with Triterras a fintech company that designed a commodities trading platform.
FB filled the gap. Yesterday's close was $216, it opened at $207 and closed today at $220.
I started a position today in NFIN. Another SPAC that signed a non-binding LOI to meege with Triterras a fintech company that designed a commodities trading platform.
FB filled the gap. Yesterday's close was $216, it opened at $207 and closed today at $220.
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Sanrith Descartes
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The survey results in this article tell you more about the so-called "experts" than it does about the market.
"In six months where will the SP500 be?"
Up more than 10% : 20%
5-10% up : 21%
+5% to -5% : 21%
-5 to -10% : 18%
Down more than 10% : 19%
So basically 4 in 5 experts surveyed will be wrong. This is why the Dave Portnoys are using scrabble pieces to pick stocks. Its probably as good as the "experts" advice. Its also why Robinhooders are making money on momentum stocks.
www.marketwatch.com
"In six months where will the SP500 be?"
Up more than 10% : 20%
5-10% up : 21%
+5% to -5% : 21%
-5 to -10% : 18%
Down more than 10% : 19%
So basically 4 in 5 experts surveyed will be wrong. This is why the Dave Portnoys are using scrabble pieces to pick stocks. Its probably as good as the "experts" advice. Its also why Robinhooders are making money on momentum stocks.
It’s going to be a long, hot, up-and-down, go-nowhere summer in the stock market, but don’t sell yet
Markets are likely to remain volatile yet range-bound for some time.
www.marketwatch.com
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Something new has reared its head for the first time in my situation. Tax implications. As a longtime buy/holder in retirement accounts, I never had to worry about this before. But now with a yolo account and thinking about taking profits soon I have to think about this.
So let me get this straight, if I now sell some stock at a profit, that amount will automatically get counted as short term income for me for 2020? Even if i DONT take it out of the individual (non-retirement) account? This will have serious tax consequences if all these profits from flipping (if I do it) suddenly get taxed at 20 or more percent.
This maybe obvious to most of you already, but like I said its new to me to have to consider this. Now I have to think deep on just keeping most everything until a) January 2021 so I can plan for the tax year better (I've already done some things earlier this year that will cause me to have a high reported income, so all stock profits will be on the back end of that at higher rates)
or b) keep the stocks for the (1)? year duration mark so they become long term capital gains?
or c) the hell with it , take the profits and try not to be sad that your profits won't be as profitable because of taxes owed.
sigh. Advice?
So let me get this straight, if I now sell some stock at a profit, that amount will automatically get counted as short term income for me for 2020? Even if i DONT take it out of the individual (non-retirement) account? This will have serious tax consequences if all these profits from flipping (if I do it) suddenly get taxed at 20 or more percent.
This maybe obvious to most of you already, but like I said its new to me to have to consider this. Now I have to think deep on just keeping most everything until a) January 2021 so I can plan for the tax year better (I've already done some things earlier this year that will cause me to have a high reported income, so all stock profits will be on the back end of that at higher rates)
or b) keep the stocks for the (1)? year duration mark so they become long term capital gains?
or c) the hell with it , take the profits and try not to be sad that your profits won't be as profitable because of taxes owed.
sigh. Advice?
Sanrith Descartes
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Sanrith Descartes
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There are entire books written on this subject.
1. The tax implications begin on the transaction. It doesnt matter if you kept the profits in the account.
2. The best answer I will give is to speak to a professional tax person or do some reading online. Every person is different based on their individual personal financials. I wilk say why it has always been common to see selling the last 2 weeks of Dec as people will sell out of losing positions and use those losses to offset gains for tax purposes.
And remember it isnt just transactions. Dividends are also taxed in a taxable brokerage account.
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Because I don't need that profit/money now. I'd rather have the extra gains and tax free next year. That would of been better served staying put in the index (which is already higher than it was pre crash) than trying to chain buy/sell these peaks and dips.
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Sanrith Descartes
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Its one of the items many new day traders don't factor in. Every single transaction with a gain is a taxable event. Of course, you do have six months to take some losses
Or do you have a position you dont like thst is underwater? It might be worth it taxwose to harvest the loss on it. This is why this item tends to be very specific to each investor.
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Hmm actually come to think of it (this is a DUH! moment) I took very hefty losses when I did my original sell of my index half way down the drop! Ok I could actually make myself whole by eventually selling half my positions in my speculative travel line up sometime "soon" and put that money back into a index for the longer haul.
Sanrith Descartes
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Just make sure you (or an accountant) does the math on this. If its a good index fund selling it to just harvest may not be the best idea. This is one area where the math and tax laws dictate the best option. Especially it is is SPY or something similar (ie a real quality index fund that just had some bad timing to it). Eventually we know the SPY will recover.
Sanrith Descartes
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Its already done, it was sold half way down the dip to give me cash to then buy these other speculative stocks. So I dunno why I'm hesitant about taking profits with those speculative stocks since I can apply them to the losses already incurred back in my march sell. Like I said, just a brain fart on my part.
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Loser Araysar
Chief Russia Reporter. Stock Pals CEO. Head of AI.
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A company that sells 70,000 cars per quarter is a "stone's throw away" from matching the valuation of a company that sells 10M+ cars per year
www.marketwatch.com
Tesla Inc. TSLA, +6.98% shares ended at a record $1,079.81 on Tuesday, sending the Silicon Valley car maker's market cap above $200 billion for the first time. That valuation puts Tesla at a stone's throw from Japan's Toyota Motor Corp. TM, -0.99% as the world's highest-valued car maker. Tesla is slated to report second-quarter deliveries, its proxy for sales, in the coming days, with analysts polled by FactSet expecting sales of 72,000 vehicles, of which 61,000 would be Model 3s. Tesla shares have gained 159% this year, contrasting with losses around 5% and 11% for the S&P 500 index SPX, +1.54% and the Dow Jones Industrial Average DJIA, +0.84%
Tesla stock ends at record, sending company's valuation above $200 billion
Tesla Inc. undefined shares ended at a record $1,079.81 on Tuesday, sending the Silicon Valley car maker's market cap above $200 billion for the first time....
www.marketwatch.com
Tesla Inc. TSLA, +6.98% shares ended at a record $1,079.81 on Tuesday, sending the Silicon Valley car maker's market cap above $200 billion for the first time. That valuation puts Tesla at a stone's throw from Japan's Toyota Motor Corp. TM, -0.99% as the world's highest-valued car maker. Tesla is slated to report second-quarter deliveries, its proxy for sales, in the coming days, with analysts polled by FactSet expecting sales of 72,000 vehicles, of which 61,000 would be Model 3s. Tesla shares have gained 159% this year, contrasting with losses around 5% and 11% for the S&P 500 index SPX, +1.54% and the Dow Jones Industrial Average DJIA, +0.84%
LachiusTZ
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A company that sells 70,000 cars per quarter is a "stone's throw away" from matching the valuation of a company that sells 10M+ cars per year
Tesla stock ends at record, sending company's valuation above $200 billion
Tesla Inc. undefined shares ended at a record $1,079.81 on Tuesday, sending the Silicon Valley car maker's market cap above $200 billion for the first time....
Tesla Inc. TSLA, +6.98% shares ended at a record $1,079.81 on Tuesday, sending the Silicon Valley car maker's market cap above $200 billion for the first time. That valuation puts Tesla at a stone's throw from Japan's Toyota Motor Corp. TM, -0.99% as the world's highest-valued car maker. Tesla is slated to report second-quarter deliveries, its proxy for sales, in the coming days, with analysts polled by FactSet expecting sales of 72,000 vehicles, of which 61,000 would be Model 3s. Tesla shares have gained 159% this year, contrasting with losses around 5% and 11% for the S&P 500 index SPX, +1.54% and the Dow Jones Industrial Average DJIA, +0.84%
It's almost like you don't understand Tesla at all
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Wingz
Being Poor Sucks.
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Going to buy some OPES stock and see how it plays over the next while. .It is a "blank check" company but they're helping with food in this case.
Gonna merge with BurgerFi so they can expand. I went to one traveling and was really nice. Described as Chick-Fil-a customer service but for burgers.
finance.yahoo.com
I can totally see people eating there and this taking off as things open back up.
Gonna merge with BurgerFi so they can expand. I went to one traveling and was really nice. Described as Chick-Fil-a customer service but for burgers.
OPES Acquisition Corp. Announces Definitive Agreement to Combine with BurgerFi
BurgerFi is one of the nation’s fastest-growing better burger concepts and is expected to trade on Nasdaq under the ticker symbol BFI upon closing of the business combination. “BurgerFi’s position within the rapidly expanding ‘better-burger’ space combined with its technology-driven business...
I can totally see people eating there and this taking off as things open back up.
Furry
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Tesla is the most amazing company of our generation, they send rockets to the spaces.
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TJT
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My advice is just to take your yolo profit from your yolo account. Unless you have to very carefully manage your tax bill each year to avoid some other very expensive taxes it probably won't matter. This is the first year I've ever sold anything too. Even though I reinvested everything and never actually took it out of the account.