Is the stock market going to tank?

[LeeLau]

GME finalized their offering selling 3.5m shares at approx 160 each. Nicely done.

"The Company ultimately sold 3,500,000 shares of common stock and generated aggregate gross proceeds before commissions and offering expenses of approximately $551,000,000"

Going to try to sell some calls against my position tomorrow.

[shera]

My GME looking good! Cost basis < $20/share because I took some swing trades the last few months. Happy Happy Joy Joy!

I will sell a few shares, but definitely hodl for the long haul. Cohen is some kind of genius.

[splat]

Apparently Biden's plan to tax capital gains for those with income of $1M+ at the ordinary income rate made the market swoon, and a bunch of my coworkers (who I'm 99% sure are not going to be affected) are up in arms. Who knew my lefty colleagues were so far right on this issue?

Comical.

When Biden won a coworker said, now our taxes are going up! Our controller was right there and I asked him to remind her how much she made...which is significanlty less than 100k, let alone 400k.

It's always amazed me how people that make 40, 50, 80k, or whatever a year are concerned when tax rates for the extremely wealthy are proposed.

They are hoping to have $1M+ at retirement, right? Are they old enough to be there already? Maybe they #stonked this year with all the epic returns? What happens if the next admin doesn't reverse course on that (sometimes these taxes get carried even by those that oppose them). What happens if the markets react negatively to this and/or people in the $1M+ start switching up their investments to avoid this tax, hence causing markets to react negatively.

Just trying to imagine in what way 'the average investor' would be concerned about this.

If you have and withdraw $1 million in/from an IRA at 65, how much do you think it would be taxed?

The Republicans have convinced even the toothless hillbillies of Bumfuck that they, too, could become kazillionaires like Elon if they just put their minds to it. Therefore, in the event they accidentally hit the superlotto, they don't want those taxes to taken away from their winnings. Selling that American Dream vision is complete and utter bullshit for 99% of the people who think it might someday apply to them. Such delusional optimists.

[uglymoney]

It might not be taxed at all. My grandma had tons of money in tax deferred annuities. Million ish for sure.. She basically paid no tax on it because my dad took out (I should say annuitized or cashed in) exactly how much her nursing home care and medical expense were. All of those expenses are deductible. So the same would hold true for a 401k.

Of course withdrawing it all at once would be stupid and would force more taxes due.

[splat]

I'm talking a Roth IRA here.

[CovertM]

It might not be taxed at all. My grandma had tons of money in tax deferred annuities. Million ish for sure.. She basically paid no tax on it because my dad took out (I should say annuitized or cashed in) exactly how much her nursing home care and medical expense were. All of those expenses are deductible. So the same would hold true for a 401k.

Of course withdrawing it all at once would be stupid and would force more taxes due.

Not sure i'm following but doesn't sound right.

Any withdrawal at FRA from Trad. IRA/401K will be taxed as income seeing as it was a tax deferred vehicle for all of those working years. Those expenses you refer to are deductible up to an extent based on AGI, etc. Not seeing how you can cancel it out and not have to pay any taxes.

Even the tax deferred annuities you refer to are taxed as income once you start receiving disbursements.

Short story long...You can't trick the tax man. Have tax diversified investment vehicles so that you can withdraw in retirement in the most tax advantaged manner based on individual situation and mitigate some legislative risk.

[CovertM]

I'm talking a Roth IRA here.

Then zero... After tax dollars, tax deferred growth, never taxed again.

[4matic]

10y rate creeping back toward the highs

[Stu Gotz]

Google earnings. Sweet baby Jesus.

[LeeLau]

Google earnings. Sweet baby Jesus.

They're executing so well..

Shorted MVIS via May 35C today. That tanked so quickly i felt compelled to take the profit. Hoping to re-short if it bounces. Earnings on Friday.

Speaking of another BS runner - CCIV (SPAC which is hoping to merge with Lucid) also ran on Apple deal rumours. Could be another tasty short.

[MultiVerse]

Google earnings. Sweet baby Jesus.

Excluding contract workers, Alphabet is generating ~$1.5M/employee. Growing profit by 2.5x in one year shows how the pandemic has accelerated the digital transformation versus the 'traditional' economy.


Speaking of the pandemic — there's a growing Trans-Pacific cargo backlog, brace for shipping ‘tsunami.’ The ETF tracking shipping indices (BDRY) is outperforming every other US ETF for 2021 YTD at 177%.

https://www.freightwaves.com/news/fl...ipping-tsunami

https://etfdb.com/compare/highest-ytd-returns/

[LeeLau]

Reshorted MVIS on its bounce

Riot and Mara moving despite btc being flat. Praise crypto. I simply don't understand why these miners do that. As long as they print me money I suppose

[MultiVerse]

Apple revenue up 54%, $89B in Q2. M1 macs are a hit. Services are a hit. At $90B AAPL's announced share repurchase program is larger than all but ~100 U.S. listed companies.

[CovertM]

Reshorted MVIS on its bounce

Riot and Mara moving despite btc being flat. Praise crypto. I simply don't understand why these miners do that. As long as they print me money I suppose

Sold $12 Puts (June Expiry) back at the end of March when MVIS had its first recent drop off, closed this week for 70% profit. Resold puts yesterday on the bomb drop and tried to close today on the runup but couldn't get a fill. Earnings tomorrow, right?

Still have the strangle going on both RIOT and MARA, just patiently waiting for movement in one direction and open a position, wait for the turn, close and/or open the other side. Premiums are still not what they were in Feb, but plenty decent for me to keep playing the game.

Have a metric fuckton of PSTH at/below NAV from selling puts (some CC, but afraid of missing the jump), impatiently waiting for a DA so I can sell this shit if it even baby pumps. The SPAC space seems to have had the wind taken out of it and the fear of future legislation/regulation isn't helping.

[LeeLau]

SPAC bubble over. I'm a BTWN bagholder and would like to be short CCIV again

[pureantigravity]

Excluding contract workers, Alphabet is generating ~$1.5M/employee. Growing profit by 2.5x in one year shows how the pandemic has accelerated the digital transformation versus the 'traditional' economy.

Picked up some GOOGL today. It was a tough choice between GOOG and GOOGLE but I envision myself being a pain in the ass at at shareholders meeting one day. This will be a long term hold I think. And probably my only way to get a piece of SpaceX at this point.

[up an down]

SPAC bubble over. I'm a BTWN bagholder and would like to be short CCIV again

I think Baakt will be a profitable SPAC deal.. Sounds better than Coinbase imo.

[shera]

I bought Intel (Intc) today. Very interesting situation there, reminds me a little of Boeing. Wish me luck.

[BobMc]

I got back our state tax return today, coupled with my monthly $200 I put in it gave me $700 to play with. I was back and forth all day on whether to buy 5 shares of AAPL or something else. Apple just killed their quarterly, I’m typing this on an ipad, a lot of people hate them but I love the company.

In the end I went with something else and bought my first REIT, I’ve been moving to stocks that yield well and have decent growth potential. I ended up buying 38 shares of PINE, they specialize in single tenant retail. Their customers are mostly big box retailers, @home, Lowes, Walgreens, that kind of stuff. All their properties are 100% occupied, they’re focused on growth and acquire numerous properties on a regular basis. With a 5.57% yield and a regular increase I’m feeling pretty good.

I had $12 left over so I bought one share of UMC, a Taiwanese chip maker, it was cheap and hopefully will increase.

I had a bit of a stretch where my account went sideways or down a tad, the last week has been pretty good. Mostly buoyed by XOM (That big buy back in November has turned out well.) and my other energy stocks. BEP is my only dog currently, I’m down 5.1% on my 100 shares, I still feel good about the company and plan on keeping long term.

I’m now up to $44,677 of my own cash into the experiment, my account value is $60093. I’m ok with a 34.5% increase.

Question, when you guys are dealing in cash secured puts are you doing that with cash in account or using margin? I’ve been watching and looking at selling CSP’s but not sure how the financing works. I have a margin account and figure if I’m assigned I can scramble, sell something else and cover before interest occurs?

[LeeLau]

I got back our state tax return today, coupled with my monthly $200 I put in it gave me $700 to play with. I was back and forth all day on whether to buy 5 shares of AAPL or something else. Apple just killed their quarterly, I’m typing this on an ipad, a lot of people hate them but I love the company.

In the end I went with something else and bought my first REIT, I’ve been moving to stocks that yield well and have decent growth potential. I ended up buying 38 shares of PINE, they specialize in single tenant retail. Their customers are mostly big box retailers, @home, Lowes, Walgreens, that kind of stuff. All their properties are 100% occupied, they’re focused on growth and acquire numerous properties on a regular basis. With a 5.57% yield and a regular increase I’m feeling pretty good.

I had $12 left over so I bought one share of UMC, a Taiwanese chip maker, it was cheap and hopefully will increase.

I had a bit of a stretch where my account went sideways or down a tad, the last week has been pretty good. Mostly buoyed by XOM (That big buy back in November has turned out well.) and my other energy stocks. BEP is my only dog currently, I’m down 5.1% on my 100 shares, I still feel good about the company and plan on keeping long term.

I’m now up to $44,677 of my own cash into the experiment, my account value is $60093. I’m ok with a 34.5% increase.

Question, when you guys are dealing in cash secured puts are you doing that with cash in account or using margin? I’ve been watching and looking at selling CSP’s but not sure how the financing works. I have a margin account and figure if I’m assigned I can scramble, sell something else and cover before interest occurs?

Holy cow Bob! You're a tribute to learning and action. Hats off to you.

I do CSPs in a margin account. I would run CSPs in a cash account (Canadian tax deferred accounts are cash only) but regulations don't allows CSPs in tax deferred accounts

[CovertM]

I got back our state tax return today, coupled with my monthly $200 I put in it gave me $700 to play with. I was back and forth all day on whether to buy 5 shares of AAPL or something else. Apple just killed their quarterly, I’m typing this on an ipad, a lot of people hate them but I love the company.

In the end I went with something else and bought my first REIT, I’ve been moving to stocks that yield well and have decent growth potential. I ended up buying 38 shares of PINE, they specialize in single tenant retail. Their customers are mostly big box retailers, @home, Lowes, Walgreens, that kind of stuff. All their properties are 100% occupied, they’re focused on growth and acquire numerous properties on a regular basis. With a 5.57% yield and a regular increase I’m feeling pretty good.

I had $12 left over so I bought one share of UMC, a Taiwanese chip maker, it was cheap and hopefully will increase.

I had a bit of a stretch where my account went sideways or down a tad, the last week has been pretty good. Mostly buoyed by XOM (That big buy back in November has turned out well.) and my other energy stocks. BEP is my only dog currently, I’m down 5.1% on my 100 shares, I still feel good about the company and plan on keeping long term.

I’m now up to $44,677 of my own cash into the experiment, my account value is $60093. I’m ok with a 34.5% increase.

Question, when you guys are dealing in cash secured puts are you doing that with cash in account or using margin? I’ve been watching and looking at selling CSP’s but not sure how the financing works. I have a margin account and figure if I’m assigned I can scramble, sell something else and cover before interest occurs?

I’m writing all of my CSPs in a Roth IRA cash account (no margin allowed in qualified accounts with my BD)

It is tempting to step into my brokerage account and use the margin, but as a matter of principle, I’m sticking to no margin for the time being.

Nice work Bob! Keep it up.

On another note, I resold some MVIS puts earlier today ($18) and may be bag hodling in the near term.

[LeeLau]

I’m writing all of my CSPs in a Roth IRA cash account (no margin allowed in qualified accounts with my BD)

It is tempting to step into my brokerage account and use the margin, but as a matter of principle, I’m sticking to no margin for the time being.

Nice work Bob! Keep it up.

On another note, I resold some MVIS puts earlier today ($18) and may be bag hodling in the near term.

RIP MVÌS. I am still short 25C and 35C. I sold 13P also. May expiry is a long ways away. You could probably trade out of it

[up an down]

I got back our state tax return today, coupled with my monthly $200 I put in it gave me $700 to play with. I was back and forth all day on whether to buy 5 shares of AAPL or something else. Apple just killed their quarterly, I’m typing this on an ipad, a lot of people hate them but I love the company.

In the end I went with something else and bought my first REIT, I’ve been moving to stocks that yield well and have decent growth potential. I ended up buying 38 shares of PINE, they specialize in single tenant retail. Their customers are mostly big box retailers, @home, Lowes, Walgreens, that kind of stuff. All their properties are 100% occupied, they’re focused on growth and acquire numerous properties on a regular basis. With a 5.57% yield and a regular increase I’m feeling pretty good.

I had $12 left over so I bought one share of UMC, a Taiwanese chip maker, it was cheap and hopefully will increase.

I had a bit of a stretch where my account went sideways or down a tad, the last week has been pretty good. Mostly buoyed by XOM (That big buy back in November has turned out well.) and my other energy stocks. BEP is my only dog currently, I’m down 5.1% on my 100 shares, I still feel good about the company and plan on keeping long term.

I’m now up to $44,677 of my own cash into the experiment, my account value is $60093. I’m ok with a 34.5% increase.

Question, when you guys are dealing in cash secured puts are you doing that with cash in account or using margin? I’ve been watching and looking at selling CSP’s but not sure how the financing works. I have a margin account and figure if I’m assigned I can scramble, sell something else and cover before interest occurs?

If you are looking for a dividend paying ETF check out KBWD.. I own it , so far so great for performance..and I think it will continue to do well in what I expect to be a rising interest rate environment

[Benny Profane]

https://awealthofcommonsense.com/202...g-but-average/

[nickwm21]

Is value investing dead? Some talk in this thread of buying AAPL and GOOGL days after record earnings reported.... I’m not sure Graham and Bogle approve....


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