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  1. #14451
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    "I've been living in the desert on crackers and rations of water for all my life. So what if I'm hanging under a date tree at an oasis surrounded by hundreds of concubines. If I have to go back to the desert and crackers ... it's all good. No biggie."
    -- Moses.

    That should have been my response to Bob. Too late now but good for a chuckle.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  2. #14452
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    Nov 2002
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    Energy down across the sector today, I got whacked pretty hard. I ain’t selling so it doesn’t really matter. On the bright side my order for 38 more shares of EPD went through. My options all gained value today on the slump. I was real close to buying back my CLB call for $80, diamond hands! Heh.

    California, that’s what I’ve been working towards, good dividend stocks will compound quickly. I’ve been buying a lot of midstream because of the yields, you have to file an extra tax form (k-1), but it’s not a huge deal. These are looked at as you are a partner in the business. The company sends you a statement at the beginning of the year and you fill out the form to submit with your taxes. The 38 shares of EPD I picked up today boosted my monthly dividend payout by $5.70, to $207.72/month. At the current price that gives me an extra 3.87 shares every quarter. I’ve been basing most all of my recent buys on yield, buy good companies with a history of raising dividends,

    Lawless, thanks for the tip. I’d been wondering about how the selling worked, I have several positions that are a mixture of long and short. I haven’t sold any position that I didn’t buy all at once nor sell all at once. If I’m assigned on a covered call will TDameritrade prompt me to choose which shares are sold?

  3. #14453
    Join Date
    Jan 2008
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    6,088
    Quote Originally Posted by BobMc View Post
    í

    Lawless, thanks for the tip. Iíd been wondering about how the selling worked, I have several positions that are a mixture of long and short. I havenít sold any position that I didnít buy all at once nor sell all at once. If Iím assigned on a covered call will TDameritrade prompt me to choose which shares are sold?
    Default is usually FIFO but you may be able to switch that either at trade or before settlement to something else. Not sure what TDís policy is.

  4. #14454
    Join Date
    Jan 2009
    Posts
    1,407
    Can someone explain why this skyrocketing Reverse Repo thing is going to cause the implosion of the financial scene as we know it? Cause that's kinda what I'm reading here and there.

  5. #14455
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    Quote Originally Posted by paulster2626 View Post
    Can someone explain why this skyrocketing Reverse Repo thing is going to cause the implosion of the financial scene as we know it? Cause that's kinda what I'm reading here and there.
    Removing liquidity. Posted a snippet about that a few pages back. No one commented. Glad your here at the party.
    Nothing will implode. Just shows that the fed recognizes that a well functioning finance economy doesn't need oodles of extra cash floating around. Could signal higher interest rates if (1) banks need to borrow and (2) the fed increases rates. But #1 banks might not have those borrowing needs and #2 they can also borrow from other banks. Without further analysis it is just *notable*. No one expected the fed to get it PERFECT when they did QE for COVID. Everything required ongoing adjustments. Just a hunch from an idiot. Uneducated guess. Waiting for the experts to chime in.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  6. #14456
    Join Date
    Dec 2003
    Location
    Teton County
    Posts
    419
    Quote Originally Posted by BobMc View Post

    Lawless, thanks for the tip. Iíd been wondering about how the selling worked, I have several positions that are a mixture of long and short. I havenít sold any position that I didnít buy all at once nor sell all at once. If Iím assigned on a covered call will TDameritrade prompt me to choose which shares are sold?
    If you go to your profile, it will have a category called tax lot ID methods and will list equities, qualified funds, and options. FIFO is default, but you can change it to highest cost or some other options as well.

    Sent from my Pixel 4 XL using Tapatalk

  7. #14457
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    Jun 2009
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    UGG. Looking at all the red in my portfolio today. Thankfully I have one entry that is journaled from one stock currency to the other stock currency symbol. The way it is recorded makes that one entry have a 66,159,800.00% gain. So in the sea of red, my portfolio is actually ahead by a huuuge margin due to this accounting anomaly. Whatever it takes to make me not panic
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  8. #14458
    Join Date
    May 2017
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    PNW Dunning-Kruger Zombieland, Alterraville, USA
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    From my (very) limited understanding of the repo market, with a regular repo the fed can purchase securities by creating money (ctrl-p, money printer goes BRRRR, etc.) which will be resold at some agreed upon price and date.
    In a reverse repo, the fed can only sell US Treasuries to be repurchased later.
    There was some issue back in the Roosevelt administration where the fed and the treasury got into a pissing contest over this bond guarantee... Not sure if that was the catalyst for the banking holiday (1933) or the Gold Reserve Act (1934) but the US monetary system changed significantly soon after.
    The next crisis, whenever it comes, may lead to a push for a crypto-dollar. I'm guessing it will be announced during "Bretton Woods III".
    Just say "NO" to Ikon
    Ow! My Balls!

  9. #14459
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    NASDAQ: CRSR They were trying to make it a meme stonk. I commented before but there is one thing I didn't think of. Timing. With in-class school returning and the current crop of gamers well-endowed with COVID-era equipment, there just won't be a lot of need for more gaming equipment. The recovery won't benefit computer peripherals like the work-home and school-home transition did. Maybe the fundamentals are there long term but the current prices of similar stocks could be inflated. Just a guess and talking out loud. I'd be surprised if the price wasn't a lot lower next year at this time.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  10. #14460
    Join Date
    Nov 2010
    Location
    Valley
    Posts
    376
    Realization this week was that I have accumulated far too many positions in my YOLO/Play account. Either from being assigned or chasing I now have 16 positions to keep track of. Most are tied up in 7/16 CC at the moment and will be letting most fly away for decent gains.

    Sold 20X ATOS 7/16 $5.5P on top of my 20x 7/16 $4P, holding 5k shares with a CB of $1.78, would like to see it fly and get out around $10 range. Looking for catalyst from any of the drugs moving forward, or Russell 3000 inclusion pumping, or a good old APE attack.

    Took a small stake (2.5K Shares) in TRCH to see how this thing plays out and am very interested in the mechanics. Dividend next week in the form of Preferred shares as a placeholder for proceeds from assets sold. Ticker change next week and potential for SQUEEEEZE. CB around $4.5.

    Did you gobble up more XOM Lee??? Bob??

    Will be interesting to see where Crypto goes this weekend and to see if the sell off across major indices continues into Monday.

    and a good read for the weekend...

    https://www.collaborativefund.com/blog/hard/

  11. #14461
    Join Date
    Feb 2005
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    North Vancouver/Whistler
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    12,726
    Covert I did get more XOM and happy to do so.

    I inversed you on TRCH by shorting July 10 calls. Rather do that then be short and liable for the preferred. I may go long MMTF to complete the other leg of the arb.

  12. #14462
    Join Date
    Mar 2006
    Posts
    17,548
    Expiration declines have been a one or two day event recently. No reason to think itís anything else. The gap to 4000 is on the table but itís still only 5% from the recent high. The dollar is making a move higher and we all know that currency always leads. Last years bull market for example..

  13. #14463
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    Quote Originally Posted by LeeLau View Post
    Covert I did get more XOM and happy to do so.

    I inversed you on TRCH by shorting July 10 calls. Rather do that then be short and liable for the preferred. I may go long MMTF to complete the other leg of the arb.
    So you're telling me i'm fucked

    Really weird, all of the online finance sites (Yahoo, BBerg, MW) weren't showing an option chain for TRCH, so I didn't even look through my BD. Low and behold there were monthlies all along I could've been selling to hedge. Didn't realize until after hours today.

    How will that work with your short calls? Switch to MMATF next week? Seems odd since they are trading at different prices. I forget the ratio of MMATF shares after the merger, .75 MMATF to 1 TRCH? Pretty sure my TRCH converts 1:1 to MMAT. Reverse SPAC stuff or something. Do you want to be Long MMATF? My cursory look into them seems like they could have decent rev. based on cutting edge tech. in many sectors along with the potential for buyout.

  14. #14464
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    Feb 2005
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    North Vancouver/Whistler
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    TRCH is a serial offender dilution machine. They just did a 100mn ATM offering and I'd be surprised if they haven't closed and sold already.

    So I want to be short TRCH but not be liable till mid July. I'm betting TRCH will tank before then but started the short calls small with a 5% allocation. Chart tells me it has small possibility of hitting 10 - 12 which will be my chance to get a complete position.

    MMATF is doing a reverse takeover. They're taking the TRCH listing via the merger. Proxy says newco will be constituted by 3.6 TRCH shares exchanged for 1 MMATF share. Given the previous share counts (105m/146m) the newco will have approx 545mn shares. Then the newco will reverse split.

    TRCHs bad habits, the reverse split and my ability to go long some MMATF means I'm happy to be short TRCH. But not right now

  15. #14465
    Join Date
    Nov 2002
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    Behind the Zion Curtain
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    I was going to buy some XOM after hours and got sidetracked and missed it. I’ve got $1640 in my account from selling the three covered calls, usually I leave it alone to give me the option to buy back my calls. Monday morning going to watch pre-market and get a feel, if it goes down further or stays around $60 I’m going to force myself to let the calls ride and pick up 27 more shares of XOM.

    The plan is to be assigned on my CLB and BBBY, take the cash from those and put it into either XOM, EPD, or MMP. Putting it in XOM boosts my monthly dividend payout overall from $207 to $250, gives me a bit under 6 shares a quarter with dividend reinvestment.

    GE reverse split 8 for 1 announced today, not making me feel all fuzzy. Debating grabbing my 27% gain and running or staying the course. I’ve liked all the news on them lately and think Culp is making right moves. I’ll probably keep holding.

  16. #14466
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    Oct 2006
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    MA
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    Quote Originally Posted by BobMc View Post

    The plan is to be assigned on my CLB g.
    You bought CLB!!??!! Fucking stud. Love that company. Goldman sell side guy used to call it the only true Investment in energy. Everything else was a trade, short or medium term
    Decisions Decisions

  17. #14467
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    Oct 2006
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    Quote Originally Posted by puregravity View Post
    Removing liquidity. Posted a snippet about that a few pages back. No one commented. Glad your here at the party.
    Nothing will implode. Just shows that the fed recognizes that a well functioning finance economy doesn't need oodles of extra cash floating around. Could signal higher interest rates if (1) banks need to borrow and (2) the fed increases rates. But #1 banks might not have those borrowing needs and #2 they can also borrow from other banks. Without further analysis it is just *notable*. No one expected the fed to get it PERFECT when they did QE for COVID. Everything required ongoing adjustments. Just a hunch from an idiot. Uneducated guess. Waiting for the experts to chime in.
    Yeah I agree w most. Not sure about signaling higher rates on its own though. Too much money in the system for not enough quality places to put it. This places a floor on short term repo as repo rates were close to negative (too much cash chasing).

    The stimulus bill is either too big, too broad/not directed or specific enoughÖor both. But whatever thereís tools they can use short term to keep things humming.

    30 years from now the issuance causing the liquidity causing the changes in repoÖwill have to be paid for. Biggest ponzi evar.
    Decisions Decisions

  18. #14468
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    Quote Originally Posted by LeeLau View Post
    TRCH is a serial offender dilution machine. They just did a 100mn ATM offering and I'd be surprised if they haven't closed and sold already.

    So I want to be short TRCH but not be liable till mid July. I'm betting TRCH will tank before then but started the short calls small with a 5% allocation. Chart tells me it has small possibility of hitting 10 - 12 which will be my chance to get a complete position.

    MMATF is doing a reverse takeover. They're taking the TRCH listing via the merger. Proxy says newco will be constituted by 3.6 TRCH shares exchanged for 1 MMATF share. Given the previous share counts (105m/146m) the newco will have approx 545mn shares. Then the newco will reverse split.

    TRCHs bad habits, the reverse split and my ability to go long some MMATF means I'm happy to be short TRCH. But not right now
    Pardon my ignorance, but doesnít TRCH go away before July? And only have Preferred shares as a place holder for divy from asset sales?

    Classic throw money at it and then try and figure it out . Way more complicated than I originally understood.

    Closed at $6.69 AH, niceÖ if it pumps to $10 on Monday or Tuesday, Iím out.


    Sent from my iPhone using Tapatalk

  19. #14469
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    You're correct. For every 3.6 TRCH shares one is short one would then be short 1 MMATF. Closing would be end of June. Which is why there is an arb.

    But I don't think I even need to arb. I think TRCH is just overbought

  20. #14470
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    Quote Originally Posted by Brock Landers View Post
    You bought CLB!!??!! Fucking stud. Love that company. Goldman sell side guy used to call it the only true Investment in energy. Everything else was a trade, short or medium term
    Yeah, you’ve commented about it before. I bought it as a play on the recovery of oil without the drag of assets. I’ve tired of it as a vehicle driving equity, I want my money into something yielding lately. It was downgraded and price target reduced the other day.

    Don’t get me wrong, I think it still has room to run. I’m just into different things lately.

  21. #14471
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    Quote Originally Posted by LeeLau View Post
    You're correct. For every 3.6 TRCH shares one is short one would then be short 1 MMATF. Closing would be end of June. Which is why there is an arb.

    But I don't think I even need to arb. I think TRCH is just overbought
    Gotcha, so your nudie July calls for TRCH assuming a sell off to close position prior to merger.

    I will see what happens Monday, but may hedge my shares with July puts and sell off the majority on any meaningful jump. Very intrigued to see what the special divvy will actually be, may keep a handful of shares to stay involved.

    Any thoughts on ATOS? Iíve somehow found myself deep in BioTech and I donít like it! Similar to roulette and so far all of my positions havenít hit yet. I see it as a valuable sector in the mid/near term, but so much trash to wade through. Thatís why itís strictly kept in the funny money account.


    Sent from my iPhone using Tapatalk

  22. #14472
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    Quote Originally Posted by Brock Landers View Post
    Yeah I agree w most. Not sure about signaling higher rates on its own though. Too much money in the system for not enough quality places to put it. This places a floor on short term repo as repo rates were close to negative (too much cash chasing).

    The stimulus bill is either too big, too broad/not directed or specific enough…or both. But whatever there’s tools they can use short term to keep things humming.

    30 years from now the issuance causing the liquidity causing the changes in repo…will have to be paid for. Biggest ponzi evar.
    I hear you. I'm trying to get educated on economics and I'm surprised that there is a strong rationale for low interest fed rates and liquidity. It might not be the issue some think it is. Banks borrow from the fed and each other, only enough to cover existing loans to trusted customers, which in turn become a cycle of investment in the economy, which returns in large part as ongoing taxes (plus paid off debt = moneys paid back to the fed).

    The net effect of all this money is revenue for the government. Counterintuitive but very smart. It is like buying someone a cow and then charging them 10% tax every time they milk it. They get the milk and you get your tax and in due course you also get back the price of the cow! And they feed and take care of the cow! Win-Win!!

    OTOH It is good that they are removing liquidity too. A fine balance this machine needs. The fact they do this means that they are functioning as managers. A nation well managed is a prosperous nation. The result of free money, issued to trusted borrowers, is free economic growth and increased taxes and repayments to the government. Which creates generational wealth. Like your parents paying for you to go to college. Although I mostly paid my college with savings from my first job and working as a student. And a government student loan too.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  23. #14473
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    Oct 2003
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    Big in Japan
    Posts
    47,691

    The world is perfect. Appreciate the details.

  24. #14474
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    Can you give us the cliffs notes or do you want us to watch the hour and a half interview?

    1980s were worse in terms of corporate fraud. 70s and 2000s too.
    Decisions Decisions

  25. #14475
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    Quote Originally Posted by puregravity View Post
    I hear you. I'm trying to get educated on economics and I'm surprised that there is a strong rationale for low interest fed rates and liquidity. It might not be the issue some think it is. Banks borrow from the fed and each other, only enough to cover existing loans to trusted customers, which in turn become a cycle of investment in the economy, which returns in large part as ongoing taxes (plus paid off debt = moneys paid back to the fed).

    The net effect of all this money is revenue for the government. Counterintuitive but very smart. It is like buying someone a cow and then charging them 10% tax every time they milk it. They get the milk and you get your tax and in due course you also get back the price of the cow! And they feed and take care of the cow! Win-Win!!

    OTOH It is good that they are removing liquidity too. A fine balance this machine needs. The fact they do this means that they are functioning as managers. A nation well managed is a prosperous nation. The result of free money, issued to trusted borrowers, is free economic growth and increased taxes and repayments to the government. Which creates generational wealth. Like your parents paying for you to go to college. Although I mostly paid my college with savings from my first job and working as a student. And a government student loan too.
    For the reverse repoÖ(RRP) look into the mechanics and plumbing of that. I think the economics isnt that weird but the plumbing of reverse repo itself isnít intuitive

    Rationale for low rates and liquidity is that at the individual business level, it encourages growth- and this is expressed in hiring. With inflation so low (I DO believe current inflation is transitory/due to a low base/etc) itís ok to pave liquidity and low rates. Itís easier to tamp Perisitent (key word there) inflation in a number of ways. But at this point we are STILL closer to 2000s Japan (and 2010s Japan) than some humming economic engine.
    Decisions Decisions

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