Dumped my BA on the $150 spike.
Earings = ewwwwwwwwww
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Dumped my BA on the $150 spike.
Earings = ewwwwwwwwww
My company was sold to another a couple three years ago, and I left my 401k money with the old company. Now they are switching management firms, November 31st, so I am moving it to to my own rollover IRA alongside my others from previous jobs. I absolutely hate how companies constantly churn their 401k portfolios between different management companies. The only reason I left the money is the fees are good and access to good funds within the account.
Currently experiencing my usual paralysis anxiety because it will go to cash, come to me in a check, which I then forward to Vangaurd. Sucks doing this during periods of market volatility.
With my usual luck market drops the day I go to cash then scoots up before I can reinvest.
Several hundred g's.
But I know I need to get this done...
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What sort of Medieval 401K mgmt company is it with?? Rollover comes to you in a check?? I'd be irritated...Quote:
Originally Posted by uglymoney
Yeah. It is some kind of bullshit. They want you to roll it over to them.Quote:
Originally Posted by skaredshtles
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"Oh, sure - fuckin' MAIL me a check for several hundred thousand dollars. What could POSSIBLY go wrong?"Quote:
Originally Posted by uglymoney
:rolleyes2
:cussing:
It's the oligarchs finding a way to borrow my money for free for as long as possible.Quote:
Originally Posted by skaredshtles
Made out to the new broker, not me. Probably pretty hard for someone to steal it, but I am sure USPS could lose it just like they lost my IRS check for an entire year.
I think it's actually some kind of arcane legal rule. I had a similar rollover earlier this year and they also mailed a check, though it went direct to the new brokerage and not to me first.
Rules written by the rich for the rich.Quote:
Originally Posted by Dantheman
If I leave the money it will also go to cash for a day or so for the transfer into the new 401k management company.
Somehow that seems easier to deal with. Not just because it is a shorter time in cash but because the timing is beyond my control.
That is why I have to just grit my teeth and get this done.
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If you sell a security it has a settlement period. You can’t just roll from one to another. When a company allows you to use unsettled proceeds for another trade they are assuming the counter party risk. Peer to peer company is not and should not do that. They would have that same counter party liability for an inter company rollover because those are segregated funds and not held in brokerage name.
Same check thing happened to me in 2008. Except I held the money in a check from mid October to early January (you get 90 days before they hit you with early withdrawal tax). Put it into stable value for a couple months and dumped it all into small cap equities mid march 2009. Prob will make me a couple hundred thousand over my lifetime. Just by being lucky and getting it in a check.
Anyway. Facebook got smoked. Ad revenue way down. Companies preparing for a downturn.
Cheap hobbies are underrated.
Attachment 431378
Nice. Well that is the potential upside.Quote:
Originally Posted by Brock Landers
Just got off the line with them. Another alternative is to roll the money into their ira then once that is settled they can wire the money to my IRA. Still will be 3 to 4 days out of the market on front side not sure on the backside. $15 401k fee into their ira rollover account.
Rollover check to me for chosen indy account is a $50 fee from the 401k.
Maybe I need to start going to cash day by day.
If I do nothing freeze starts Nov 23rd then liquidation to cash Nov 26th? if I leave it with the 401k for the transfer into the new 401k around Dec 2nd.
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You could hedge your transfer position with a futures contract or weekly option. Perfect for that.
$15 or $40 and you’ll be out of the market a few days? What’s the issue exactly?
Figure out where you want to send it, stay in the investments you want up until you need to redeem, get the check and send (or wire) and allocate your $ appropriately.
If you’re out a week, don’t sweat it. Just have your plan in place for when it’s your turn to execute.
Had an order fill at $91/share after hours yesterday, 10 more shares. It’ll probably go down in the future, but I caught the knife that day.Quote:
Originally Posted by BobMc
Been pivoting from my last year’s strategy of energy and midstreams into depressed tech. Grabbed 10 shares of AMD for $58/share on Monday. I wish I’d bought more AAPL before earnings, as I always kick myself over this. Note to self, buy AAPL.
My MRO call is still hanging out there, been keeping above my cost, still holding out hope. Pretty sure my SOFI put is going to let me keep the cash.
Figured XOM would crush it on earnings, they did. Also figured they’d moon a bit early on that, they did. I’d set an order to sell a Nov 4 $110 call for $2.15. It sold at 9:32est, while driving to work it dipped to $1.70. Pulled over and closed the position at 9.43est. Made $43.68 pretty easy, I’ve got a fair amount of cash still in my account, but I’ll be trying to figure out what to put that $43.68 into.
I’ll probably end up putting it into a high yield equity, something everyone else is fleeing…
Thanks for the technical tidbits and suggestions. Appreciated.Quote:
Originally Posted by 4matic
Got this. It is just the well known psychological hurdle that is interesting to me. Easier mentally to do nothing even when the end result is basically the same. Easy to look at myself from the outside or someone else and shrug but more difficult when dealing with it for myself. My money was all earned the old fashioned way. I'm a grunt, not a dentist.Quote:
Originally Posted by Brock Landers
Yesterday's rally was a nice bump. Glad I was all in for it. That is the kind of instant rally amid a bear market slide that bothers me. It is why staying invested is important. You can't catch those rare days if you aren't in.
Anyways forms in the snail mail. Gotta get this done.
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Earnings season has been pretty good for me. SOFI beat on EPS and revenue, bought my put back for .02. Probably could’ve kept that extra $2 but whenever I can buy them back under $5 I’m going to do it to lock in the cash and save the $.65 fee.
Sold another XOM call yesterday, bought it back for an $18.66 gain on my way to work. Free lunch program... I keep waiting for some kind of downfall of placing conservative options positions, but I haven’t seen it yet. It’s going to take quite a market adjustment to erase all the gains I’ve made with having a little bit of money. The game is indeed slanted to those who have the ability to use money to make money.
I’ve lived my whole life making my money off the ability to meld the skills I’ve had physically with those I’d had mentally. Using money to enhance the mental skills has been rather eye opening.
Being as I’ve been deep into energy for the majority of my invested career I’m still posting gains even when the market sinks. Most of my midstream investments have been doing well lately, dividends increasing and share price following suit.
I’m hoping that my latest strategy of buying tech will work out. Grabbed 2 more shares of GOOGL for $91.57, didn’t get it at the cheapest but I’m ok with that. I now have 36 shares of GOOGL at $105.38, may look to add tomorrow.
I’m torn over investing more in growth/tech or getting real time cash money. Dividends are nice, but share price is hard to argue. I’m finding it hard to argue with myself about investing in forward looking companies.
Long DIA/IWM short QQQ could go on for a while
Shit, I guess 103 was too much for Amazon and 98 too much for google. These tech blue chips are being wrecked.
Did they take them out of the indices? Feels so much worse.
Fierce rotation. Tech way over owned.
Another 75 basis points. That should just about do the trick.
Hindspeak. Powell missed at the start and he will miss at the end.
Babbling nonsense in the presser.
“I don’t see any method at all sir”
https://youtu.be/3T-VAi2Xqq8
What happened at 2:34 pacific today?
Was that when someone ruined the party by repeating loudly Powell's remarks about rates peaking higher than the Fed expected back in September?Quote:
Originally Posted by 406
There was full employment and low inflation for before pandemic. So now Fed is focused on that one metric because it’s what they can hammer on? Plus, the thought that they have to drain excess savings to curb demand is cruel.
Don’t get wrong. I’m positioned for the Fed to fail soft landing or inflation is in fact transitory.
Fed will split soon if they haven’t already. The statement didn’t jive with Powell comments.
Powell also said he wasn’t Converned with the dollar. Other countries arent his problem. He’s right that’s a treasury issue
How can you position for potential hard landing AND for runaway inflation?
I've been continuing to dollar cost average into VTI. I'm considering making a large, non-leveraged asset purchase. The assets that I'm interested in are continuing to inflate I think the hard landing and asset price correction I've been planning for may not happen. I think the Fed will probably pivot to protect asset prices and accept inflation if SHTF.
I’ve been making my monthly purchases for my sep ira, but I think it’s worth waiting to make a large asset purchase. I covered my shorts a few weeks ago from my personal a.acct. But did not go long. If we go higher, you can change plans and buy a dip, but I’d imagine you’d flip flop between being the green vs red for a few yrs. Plus your making money in cash again now.
I just see the payoff being worth it should we see lower lows. I hate catching a falling knife and have held shot for yrs making that mistake only to break even.
At some point, people will be buying bonds again and I think that will hurt the mkt. especially in Muni’s, there ain’t much out there.
I’m not positioned for inflation at all and have lost money because of it. Inflation is forecast to fall sharply by the end of next year into 24 (Gundlach-others) If inflation falls that fast it’s not going to just stop at 2% and go sidewise? That’s believing the Fed who 14 months ago had a projected funds rate at .6 end of 2022. It’s now 700% higher than their forecast. So why would I believe them now?
Either way is reason enough for asset prices to fall. Especially high pe names like ROKU. That can easily be a $10 stock. Great product with no scale or growth.
Imo: Fed should stop hiking rates and accelerate QT if they need more tightening. They could have done that so much earlier and gotten 100’s of billion more in proceeds. Otoh, the rate is more attractive on maturing bonds for investors and they need to dump a lot of paper.
Strangely this was posted at 1:18 PST?Quote:
Originally Posted by 406
My bad plot was in Eastern showing the drop at that time.
Yeah, that conflicting fed talk sure shook things up. Got crushed on most everything today, down 2.2%.
I took it as an opportunity, picked up two shares of GOOGL at $88.75 and then two more at $87. Grabbed two shares of AMZN at $92.20 and ten shares of AMD at $58.25.
I’m going to keep trying to ease into a larger position on ARCC, trying to sell a couple of OOTM puts. If they sell I hope I’ll be assigned rather than the meager premium.
Futures up a tad tonight, the market seemed to have priced in the .75 hike, wondering if tomorrow may be an up day? Most of my holdings beat earnings, and guidance improved. (Pipelines have been kicking ass and paying the cash.) If growth/tech gets beat further down I’m going to keep trickling in with a few shares a day.
Went hard on $GOOG before the June BMR. REKT now. Thinking about adding more at these levels. Seems oversold AF.
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Y'all day-trader stock-pickers are just blindly throwing darts at a dartboard. Look at PSLDX for a long term hold with upside (and risk).
Never take financial advice from someone who says "y'all".
I know we're in bizzaro world right now, but the imbalance between TA and analyst rating is quite striking. PE ratio looks bottomed out.Quote:
Originally Posted by BobMc
Sad thing is, The Street probably wants to see Sundar roll some heads before sending stonk higher.
Anyway, this will continue to be a long-term hold for me.
Attachment 432255
Attachment 432256
EOG just dropped its nuts on the table.
Energy stocks, hy, long treasuries (20+)
Otherwise. Stocks. Are. Going. Down. Moar.
Layoff season starting early. 3k in the Bay Area already this week without TWTR. I’m thinking AMZN drops 100k after the New Year.
Get out now
That’s shitty. Most all 401k providers will allow for a direct custodian to custodian transfer. No check, no withholding but you will need to liquidate and be out of the market during the transfer process.Quote:
Originally Posted by uglymoney
Also, minimal reasons to ever keep your 401k at an old provider. You are paying a plan admin fee that you wouldn’t if held in an IRA. Most plans are focused on low cost vanguard type funds, readily available elsewhere. Going with the vanguard type lineup helps to to minimize fiduciary liability for the employer.
Yikes. No bueno.Quote:
Originally Posted by 4matic