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The 2023 Stock Market Thread

i heard Elon had borrowed money to fund twitter from ARKK last weekend. well i wanted to jump into arkk and see if i could ride the wave, well i didn't remember at 8;30 and it was on the rise so i thought i would jump in on a dip. shit took off Monday and Tuesday. i missed 5% fucking around. so i jumped in yesterday morning and made damn near 5k in a day. but i think I'm going to leave that money in for a while.
 
[memphis] said:
What are people’s thoughts on Tobacco companies?


Ticker MO in particular. I know some people have self standards where they won’t invest in things they don’t support/believe in… but the dividend is attractive and yes it’s in a bit of a funk YOY but it has been rising since June of 2022.

I’m all for profiting off of people’s stupidity. Not sure if tobacco is really pivoting to adapt but it’s charts and earnings seem to suggest it is…

Just moved some bonus $ this morning. SNA is on the list and since the contribution is post tax I was thinking grab MO with the tax refund money.
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I've been buying MO since June. I'm up 11% plus have been getting 8%+ div yields the whole time. I love the stock under $45.
 
Grabbed 10 shares of Snap-On $SNA today. For whatever reason Questrade is slow on the USD conversion and won't let me buy $MO even though I have $470 USD remaining in my account... good news is I made it in before the ex-divy date (Feb 22) for Snap-On so I'll earn a few extra bucks and let this one ride as a growth stock and add to my position as I can. Once I file my taxes I'll just roll that credit back into MO or SNA as discussed.
 
lol yup it did

I did the same thing with PM around the '16 election, held too long because I was a starry-eyed idiot
 
I've never sold stock, I'm looking at the market and the sawtooth pattern appears to be at its peak, I want to sell a bunch before it drops again.

The question I've got is what does it do in reference to tax liability?
Say I have $400 that I invested into the market and right now my account says $600, I sell $400 worth of stock do I owe taxes on that 400? I've had the tax "div" sheet make my tax return less in years before...
 
[486] said:
I've never sold stock, I'm looking at the market and the sawtooth pattern appears to be at its peak, I want to sell a bunch before it drops again.

The question I've got is what does it do in reference to tax liability?
Say I have $400 that I invested into the market and right now my account says $600, I sell $400 worth of stock do I owe taxes on that 400? I've had the tax "div" sheet make my tax return less in years before...
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I’m assuming you are not trading within a tax free account or 401k… and I get your question but don’t know the exact answer.

On paper it sounds non taxed because it’s a zero sum gain (you now have house money to play with).

Another way to think about it: exit your position entirely and jump back in with the $200 profit (assuming share value was the same) and you’ll pay tax on those earnings first.

In my mind, it sounds like taxes would be deferred until the $200 is sold as a gain or loss
 
[486] said:
I've never sold stock, I'm looking at the market and the sawtooth pattern appears to be at its peak, I want to sell a bunch before it drops again.

The question I've got is what does it do in reference to tax liability?
Say I have $400 that I invested into the market and right now my account says $600, I sell $400 worth of stock do I owe taxes on that 400? I've had the tax "div" sheet make my tax return less in years before...
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you are selling by share price not dollar amount so you would pay tax on the difference of share price when sold
 
Ransil said:
you are selling by share price not dollar amount so you would pay tax on the difference of share price when sold
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That makes sense, thanks.
Guess they'll send me a form alongside the dividend form, here's to hoping it doesn't kick me outta the free-file bracket.
 
I'm currently digging into/researching natural gas, natural gas delivery, and oil.

FLNG has done be well this month, however, i entered at a good price.
 
If anyone is interested,

T3 is having a demo week in their newsbeat trade room run by JR. I have been in this room about 9 months now after the blow up and destruction in our Discord trading room. Took me a while to learn JR's style, because he is very heavy on reading charts, and follows the Wycoff (sp?) method, and deals with pricing and flow. A very experienced trader, and I learn something new everyday.

Signing up is free, be warned, they will definitely try to sell you on joining the room, or doing some of their education courses, or joining some of the other rooms. But no obligation to buy, and they do offer deals during demo week.

This is geared towards the folks who day trade, or scalp on short time frames, not the long term investors. Mostly trade the indexes, SPY and QQQ's and some select stocks, TSLA, NVDA, GOOGL etc. Pretty short list. Some very experienced traders in the room, and the atmosphere is professional, definitely not IBB style (or like my last trade room I was in). They don't tolerate too much, and will boot the fools quickly, though a lot more tolerance during demo week

A typical week starts with a market outlook on Sunday night, and JR is likely to bring the newbies up to speed on how the room operates.

Morning briefing at 9:15 market, live trading all day, and he will be on the mic extra because of the open house. End of trading, room is quiet until 19:15 EST when there is a market debrief.

On Tues and Thurs he will have hour long presentations during the day when the market is slow. Topics are always enlightening.

I don't get any commissions or anything, just passing along a pretty good room to be in if you want to learn more about trading the market. I think the link will take you to Amber one of the trade counselors, she rocks.

T3 has a number of trade rooms, not just the newsbeat room, so feel free to ask about the other rooms, and when they are likely to have their demo weeks - each room does one about every 3 months or so, so there is usually a demo every few weeks or so. The most well known face at T3 is Scott Redler who is on Fox Business every week with Liz Claiman. He has a public feed on TWTR if you would like to follow and get a feel of how he trades.

Full disclosure - I pay for access to the newsbeat trade room, and for Redlers private twitter feed, his 6:30 morning briefings are worth the subscription fee alone. I am in about $150 a month total (but scored an excellent annual rate at the last demo).

Link is
T3 Newsbeat Demo Week
 
Getting hammered, figuratively.

BP was unexpectedly down 7.5%, to me anyways.

USB is down to 35/share. I want to see how low it will go and them I'm going to see what I can figure for options. Maybe tomorrow? Gotta remember how that all works :homer:

All in all, under $7k overall, quick fall off my recent highs but still a good bit above the market average :rasta: about to be money in the streets for banking stocks. Smaller banks are taking huge cuts as well
 
The breakout above the 200 day failed last week on Friday, unless the fed throws a gift to Walstreet next week I would expect a grind lower for some time. SVB was a canary in the coal mine, more to come soon.
 
Norm said:
The breakout above the 200 day failed last week on Friday, unless the fed throws a gift to Walstreet next week I would expect a grind lower for some time. SVB was a canary in the coal mine, more to come soon.
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Yeah we are still well above the sell the car and buy banks levels from the early covid days
 
Just off year to date numbers, "banking" and even well heeled institutions are down ~30%.

Might have to review the calls/options trade info sheets and how to do all that stuff again tomorrow.

Steep drop, even if it stabilizes here or we lose another bank or two and drop again over a couple weeks, I highly doubt GS will be $300 per share rather than nearer $400 for example in august/September
 
Provience said:
Just off year to date numbers, "banking" and even well heeled institutions are down ~30%.

Might have to review the calls/options trade info sheets and how to do all that stuff again tomorrow.

Steep drop, even if it stabilizes here or we lose another bank or two and drop again over a couple weeks, I highly doubt GS will be $300 per share rather than nearer $400 for example in august/September
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IMO we have a long way to go until we hit bottom. This is just the second inning of the pain game.
 
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Yup, I don't think this is the bottom but I've never been able to get there. Well find out tomorrow if this goes through and I've thrown away $500 :rasta:

Gives me a year and a quarter to get above $43 for USB, which should be doable.

And gives me a reference point for the next few weeks to see if I should toss more money at other stupid banks. I'm curious how low bank of the Ozarks can go
 
tried to sell a bunch at peak a few weeks ago
didn't figure out that you sell "at market" and not any sort of "limit order"

hasn't been anywhere near since so the order hasn't gone through and likely won't for a while, oh well
 
[486] said:
tried to sell a bunch at peak a few weeks ago
didn't figure out that you sell "at market" and not any sort of "limit order"

hasn't been anywhere near since so the order hasn't gone through and likely won't for a while, oh well
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I always buy and sell at Market. Options being the exception. For stuff you were looking to unload does it make sense to average down?
 
Will12785 said:
How many shares do you have? Can you sell covered calls?
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Shares of?
I am going to investigate the following tickers and consider buying Calls for BTI and GPC. I’ll be going long if I do, December or January 2024 if available.

I have a 4K tax return coming my way and need to reinvest my RRSP contribution kick back
 
[memphis] said:
Shares of?
I am going to investigate the following tickers and consider buying Calls for BTI and GPC. I’ll be going long if I do, December or January 2024 if available.

I have a 4K tax return coming my way and need to reinvest my RRSP contribution kick back
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I guess I misunderstood your question good luck on GPC calls, I have a ton of stock in them, and I'm happy to have it, but it isn't quick moving.
 
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