Board 8 > Stock Topic 27

(+) Yeah! (+)

Netflix got dumped because of its abysmal earnings report.

im aware

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CoolCly posted...

Blur's self destruction of his confidence is pretty interesting. He was seeing so much success that I started throwing a hundred bucks at stuff he was super confident in because it seemed like he had a process that was working that led him to say he really liked a particular stock. But now it's "i have no idea what makes a successful stock or even how to begin figuring it out"

The ultimate lesson in past performance not indicating future results

Not to guilt you about me investing in your pitches btw, no hard feelings there. I went in every single one of them assuming they would die miserable deaths in the off chance you do have the touch

I still have no idea how to decide if a stock is a good idea myself.

Yeah, I think my confidence is really low right now after botching RGBP which was such a huge win and brought my account to new highs, then I got greedy. And I basically revenge traded RGBPP which didn't turn out well and I know better. Still 14k off a penny stock isn't too shabby. Turns out I shouldn't have panic sold RGBPP because it crushed it today. Ah well, I should have never messed with the ticker in the first place after I dumped.

These shady ass penny stocks I like to get in for quick cash. I've been studying up on technical analysis but it's hard work and I've got a lot to learn. But I was quick to sell 1k gains twice today on GVSI, then waited patiently hoping for a dip since the candlesticks were all bearish and I got it, so I loaded. Will sell the run in the morning, as long as there hopefully is one.

My main strategy with these is the same way I found AMC, ENZC, and RGBP - I don't really have a name for my methodology other than "social arbing" the hype. I got it from the Dumb Money guys - they use Google Trends charts to find overall trends in sectors and the like, but you can do the exact same thing simply typing in a ticker or maybe the CEO of the company and things related to them. You'll almost universally find a stock's chart action lines up with its Google Trends chart. It's fascinating how accurate it is, and every time before a giant run like AMC and RGBP, the trending chart would be its highest too. A 100 dotted line with significant bump up from the previous highs is what you're looking for. If a stock is getting talked about on a bunch of different discords and reddit pages and the stocktwits count is increasing rapidly, that's the other thing I look for. Like RGBP the watch count doubled on stocktwits over that weekend, and I knew Monday would be crazy.

That said, I am feeling like I should be playing less hastily with these pennies, because I'm asking to get burnt again. Nothing is matching my social arb criteria including GVSI (yet) and I am jumping into stuff I probably shouldn't be. Just need to be patient and I promise I'll find the next stock to run 100% in a day. But yeah, I've just been beating myself up over getting greedy yet again on a huge win. I just get too damn emotional and excited and cocky when I find these winners over and over and they're running like crazy and my account is up big and ugh. It's like a high I get that makes me never want to sell everything - it's a serious issue. That last screw up was seriously the last straw though. I've never been so disappointed in myself for making such a rookie mistake that I've already made before. Never again.

Anyway, I still have full confidence in my long trades. IEA taking flight while I'm loaded up is real nice.

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Messing with penny stocks is a recipe for disaster if you ask me. I guess you only need to be right like 10% of the time but its such a crap shoot and requires so much fickle research that often leads to nothing.

Yeah, RGBP was probably more dumb luck than anything, being as enormous of a run as it was. I do feel like anything with huge hype news going into a weekend hold could be easy money every Monday. Might try that tactic, following the trend charts of course.

And yeah, pennies burned me bad back around this point 1 year ago. Trading them again, so far successfully, has been satisfying. But now that the market is picking up I'll probably throw more of my serious cash in IEA and NNDM. Not all at once though.

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Ive been in penny plays for over a decade now. Ive had some massive winners like mjna in fall 2012/2013, trtc in 2014, owcp in 2017, pvdg last year/early this year, and rgbp a few days ago. Ive had plenty of like...20% gains over the years too like usrm and celz.

Ive also had some massive losses. Mrib is easily my biggest loss of all time, lost about 20 grand. Eeenf a few weeks ago i lost like 5k. Knowing charts is pretty nice for pennies. Daily and like 15 minute charts.

Speaking of which, RGBP might be in a good spot again fwiw. Had a nice bullish piercing and engulfing candle on the daily today. Might be a good start

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I am getting absolutely crushed by wash sales and I dont understand them. I called Vanguard but they failed to explain it to me in a way that I understand.

With EVRI, because I continue to buy and sell within 30 days after realizing a loss within that time period, it seems that all my future trades of it are affected. So what should be an $8k gain is dropped to like a $3k gain based on some calculation that the IRS does. How tf is this allowed? I understand the premise behind disallowing losses when people try lowering their gains for the year to offset taxes owed, but if they realize the loss then why is that bad anyway?

Thats beside the point though. With EVRI, I had a simple $1k loss followed by an $8k gain yesterday)bought and sold it twice). Instead of getting $7k net, it turned into a $3k net after all was said and done. Wtf?

I mean it short it seems like a rule to prevent you from crystalizing all your losses and immediately buying your position back so you have losses on the book but the same amount of assets you were going to be long on anyways.

This seems to cover the dos and donts:
https://www.investmentnews.com/working-around-the-wash-sale-rule-59903

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But if youre taking a loss, then so what? Thats the penalty right there, losing money.

Scenario:

-It's December and you are up 50,000 with your investments.
-You don't want to pay that much in extra taxes.
-You have several long term plays that you are HODLing for better days because currently they are down, maybe even a lot.
-So you sell and rebuy those long term plays. Maybe you spent 100,000 on something and it was currently worth 50,000 but you're convinced it will recover. So you sell for a realized 50k loss and then buy back the exact same position.

Now, on paper, you are up 0 on the year and no longer have taxes to pay on your gains. Sure, down the road you would still have to realize that gain, but for the moment you have avoided it and that's good for you and bad for uncle sam.

Now you might not have been cognizant thats the impact your losses were having, because you were just trying to get out of something losing to free up your money for something else. But that's the reason you have to avoid your losses for X amount of time, because otherwise it appears to be the type of behavior designed to cheat the system.

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Because losses reduce your taxable income. Therefore, you could exploit losses to save money on taxes and they don't like that.

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Which isn't to say you aren't *allowed* to realize losses at the end of the year for tax purposes. You just aren't allowed to realize those losses and then still own the same asset. It's not the selling. It's the buying back within a designated time frame.

But what you COULD do is invest into a similarly performing asset from the same sector, something you expect to respond positively and negatively to many of the same things as the asset you are taking the loss on. And so you could either just be long on the new (similar) thing or you could just be in long enough to wait out the number of days to switch back to the first thing.

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Forceful_Dragon posted...

Scenario:

-It's December and you are up 50,000 with your investments.
-You don't want to pay that much in extra taxes.
-You have several long term plays that you are HODLing for better days because currently they are down, maybe even a lot.
-So you sell and rebuy those long term plays. Maybe you spent 100,000 on something and it was currently worth 50,000 but you're convinced it will recover. So you sell for a realized 50k loss and then buy back the exact same position.

Now, on paper, you are up 0 on the year and no longer have taxes to pay on your gains. Sure, down the road you would still have to realize that gain, but for the moment you have avoided it and that's good for you and bad for uncle sam.

But you now have fewer shares of that stock compared to initially, since you took a $50k hit before buying back into it.

Its the value of each stock that decreased, not the number of stock you own. If they were worth $10 a share when you bought and $5 a share today, and you sold them all at $5 a share and bought back at $5 a share, you can say you lost $50,000 but you are in the same boat because you bought back immediately

In other words it doesnt really matter what you bought for to apply here as long as the value has gone down. If you sell it you are realizing a loss, but if you buy back immediately at the same price you sold, it comes across as manufacturing loss because you really just wanted to hold

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Buy 100 shares for $1000 apiece.
Shares lose value to $500 apiece.
Sell 100 shares for $500 apiece.
Buy 100 shares for $500 apiece.

You just realized a $50,000 loss but still have the same number of shares^

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For wash sales, I believe even if you've accumulated disallowed losses throughout the year, if you sell all of shares of that stock and don't buy it back, it doesn't matter that they were disallowed originally, because you can then take those losses. Also, something to be aware of if you sell at a loss, is to turn off dividend reinvestments as those will usually trigger a wash sale.

For 2020, I sold a bunch of my losers at the end of December, waited until the end of January 2021 to buy some of them back. Luckily the price hadn't changed much and I was able to reduce my taxable gains for 2020.

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to ethereum and beyond

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what the heck just happened to my stocks

I was up by like $60 and then worked on a few calls at work and now it's down $30 for me, what market event happened that made me lose $90 in minutes?

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what I am seeing is that Biden supports 43% capital gains

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Thanks for clearing that up.

https://twitter.com/CNBCnow/status/1385280458594963457/photo/1

Woof. Thanks, Joe!

And yes. Stocks going now because of Biden statement about taxing the rich.

Can somebody explain how tf my three sales of EVRI equates to the attached cost basis of like eight line items? And why tf the loss (red amounts) are higher than what I actually lost on the first sale ($1,052)? And why tf my gains are listed lower than $8,000 or whatever?

You should seriously get a financial advisor if you are YOLOing 250k into stocks.

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Holy shit you have 250k of YOLO money???

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Homie stock EVRI is a sure thing below $14.

Until its not, I get it.

Did I just see you investing a quarter million dollars into EVRI? That is fucking badass.

I outlined this strategy several days ago. Did people think I was joking?

Sunroof posted...

Debating closing my puts so I can buy EVRI.

Sunroof posted...

I closed my puts on DIS and F yesterday for a $1600 loss. I then put a quarter million into homie stock EVRI at $13.54. I meant to sell it this AM then buy back if there was a dip, but I messed up my stop order (I think this is the fifth time for those keeping score) and ended up losing $600 instead of gaining $3000. I was so mad that I bought back into EVRI at $13.69. Thankfully its nearly at $14 so I should make a net gain of around $1,500 if I sell right now.

I ended up netting $7,610 from the EVRI sales. Subtract from that the $1,600 it actually cost me to close the puts and I finished at $6,000 net gain. I would have made $1,200 from the puts though so that actually brings me to $4,800 net gain.

Snapchat earnings at close today for anyone who wants to roll the dice.

The 33 analysts offering 12-month price forecasts for Snap Inc have a median target of 78.00, with a high estimate of 100.00 and a low estimate of 40.00. The median estimate represents a +36.51% increase from the last price of 57.14.

The current consensus among 39 polled investment analysts is to buystock in Snap Inc. This rating has held steady since April, when it was unchanged from a buy rating.

With a quarter million of fuck off money and a will to buy->sell for short immediate gains, it is a wonder youre not doing more crypto.


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Crypto has high fees and a very annoying interface. And I dont trust like crypto like I do EVRI.

High fees? The exchange I use is like 0.25% at their highest rate, are you getting free trades on six figures?

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binance.us has 0.1% fees at the highest rate. If you select to use BNB tokens to pay for fees it's reduced to 0.075% or 7.5 cents per $100. At that's at the highest rate, it goes down if you trade in higher volumes each month and keep a certain amount of BNB in your account. I'm still miles away from those reductions, but less than one tenth of one percent is a lot better than something like coinbase that was charging two full percent.

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My state doesnt have Binance. I pay zero fees on my stock trades.

Don't try to reason with him. Moonroof is an insane person who passed on 70% gains with Chainlink because he didn't like the UX of a single crypto trading app. But then he took that money and made like a hundred grand in a day. He is a madman.

I think there is a hidden fee to trading crypto that people might not be aware of. I know for a fact its the case for platforms I've been using in Canada (Wealth Simple, Shakepay) but I don't know if this is true of all platforms

It basically comes from the fact that you aren't making a trade with someone else who wants to sell - you are making a trade with your platform. The platform is selling you the crypto that they have gone out and bought. This is how they make money.

I posted about this before because i was buttmad about being scamaz'd that you might remember. I hadn't really worked through the logic of why it was happening then.

Basically - say Bitcoin is trading at $50k. That's the price everyone is looks at when they talk about the value of Bitcoin. There's orders to buy for $49k and sell at $51k. Ostensibly, there are people meeting in the middle and buying/selling at $50k.

If I see this and place a buy order.... I can buy for $51 or 52k. So presumably, my platform is buying bitcoin from the market for $50k and then selling it to me and keeping the difference - despite Wealthsimple supposedly being "commission free". If I want to sell, I can sell for $48-49k. Here, Wealthsimple buying from me for $48-49k and selling to the market for $50k.

So this means I just cannot buy or sell at current prices - my intermediary is taking a further cut each time for granting me the privilege of being able to make these trades. So this means that if I buy when prices are $50k. I won't be able to break even until prices move to say, $54k, because then my broker will actually let me sell for the price I bought at ($52k)

I think in this case the platform is performing the role of "market maker", which is a critical step in actually allowing trades to happen between different traders. The stock market actually does have this happen too, but it's not your direct broker doing this to you, it's a further step in the chain away from us as retail investors, so it's not really a problem on your individual transactions.

I'm curious - do you guys know if this phenomenon is happening on your crypto platforms? I know there are two separate fees you might get (flat or % based fee your platform might charge) and the actual crypto fee (fee incurred by the cryptocurrency itself any time movement is done). It can be hard to recognize this is happening because it isn't going to show up as a fee - it's just going to be that your order will be fulfilled at a different price than what you were seeing at the time.


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On Binance I can see the volume of buy/sell orders parked at all the various price points, and I use those volumes to try and set targets that I think will more reasonably be hit. I'm not buying/selling to binance itself, but participating in a trade with whoever placed the other side of the order at that price point.

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To expand, I pay exactly the amount i'm requesting to pay when I buy and I receive exactly the amount I'm requesting to receive when i sell.

I just bought 200 DOGE tokens at .2601
It cost me $52.02
I paid a fee of 0.00008010 BNB (or 4.129956 cents based upon current BNB value)

Then I set a sell order for 196 DOGE tokens at .2698
I received 52.8808 for the sale.
I paid a fee of 0.00007653 BNB (or 3.9458868 cents)

The net result of the exchanges is that I earned 86.06 cents, I paid around 8 cents in fees and I have 4 more DOGE tokens than I did before.

But nothing about that interaction contained hidden or unexpected fees.

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I called my broker to place a bid on CREX. 6000 at 1.25. Hopefully it fills, will likely double my position soon, especially if it gets a little cheaper. Pissed as hell I had to call to place this bid when I wanted to accumulate at 1.15. Makes no sense when they let you buy OTC and delisted companies.

But yeah, this seems like a really good price to buy even without news. Looks like the start of a reversal and volume is heating up again. Reminds me of AVCT a few times shortly before low float blast off.

Make me some of dat AMC money again Lopen!

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re CoolCly

Isn't that similar to what all the other "free trade" brokerages are doing? Sure they say they're free, but that's factored into the price you're paying for it.

To me these fees don't really make a difference. What is the true price of bitcoin at a given moment? Isn't it what you can buy it for? If I get on Coinbase to buy, the price is changing every five seconds, sometimes hundreds of dollars. In my mind, I'm thinking this price is within the range of what I'd pay for it and I buy it. A $5 fee on a $500 purchase doesn't mean much when the price changes more than that in the time it takes to login and choose how much to buy.

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https://gamefaqs.gamespot.com/boards/8-gamefaqs-contests/79419642