OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[southernhospita]

The price action on Fridays is so damn fake

that’s why I don’t even bother with options on Friday I still check the charts though

 

[crownedhead]

Can someone tell me what news is causing today's pump?

 

[turbospartan]

Me checking my account this morning:

I've been to that bar in Estes Park, which is actually the same hotel that The Shining was about

 

[mplsdunk]

Bruh I got the worst f’ing headache up there.

that altitude is a killer.

 

[JustBlaze.]

$AMC byke

 

[Chopper]

Fair. I never followed them and have assumed they're generally snake oil salesmen like all the other subscription services that pump and dump stocks.

From everything I see they're legit. They have a lot of conviction in their picks and good logic. They rarely ever propose a sell (but do when they feel it's appropriate) and suggest holding 3-5 years min. My pops has been a fan for years. Got some great plays from them like NVDA and ISRG real early.

We'll see how it goes. I've done fine by myself but I figured I'd give the "experts" a shot and follow their lead for a while. Time will tell.

 

[s0lefunk]

I'm mad at myself for how I handled AMC. Started a small position at $4 a share. It was one of my COVID recovery plays. Then it became a meme and I bought a lot more at $17 smh... Came crashing down and exited completely. I had conviction but the meme aspect distorted my view and I just soured on the whole deal.

 

[coolcool]

Can someone tell me what news is causing today's pump?

market makers been shorting the crap out of the market and have to close out their positions by buying it up. heard from a friend.

 

[johnnyredstorm]

Are the crypto holdings you listed also in that order size-wise?

i.e. BTC largest and DOGE smallest?

Yup. Sushi and Siren might swap depending on the day but DOGE is just a moonshot position in case Musk brings in developers and revitalizes it after helping create a brand.

 

[Zo gif]

Wth going on with wingstop

 

[daved739]

Hey guys noob question. How does dollar cost averaging work in regards to taxes. Will that always leave you with the short term capital gains tax? What is the best way around this if so. I usually don’t have large sums to dump into companies so I’m usually just investing 100 bucks a week into Pins, Apple, etc

 

[johnnyredstorm]

Hey guys noob question. How does dollar cost averaging work in regards to taxes. Will that always leave you with the short term capital gains tax? What is the best way around this if so. I usually don’t have large sums to dump into companies so I’m usually just investing 100 bucks a week into Pins, Apple, etc

You don’t pay taxes unless you sell or receive dividends

 

[daved739]

You don’t pay taxes unless you sell or receive dividends

Yea I get that, but when you dollar cost average are you pretty much stuck with the short term capital gains higher rate when it’s time to sell?

 

[noskey]

Yea I get that, but when you dollar cost average are you pretty much stuck with the short term capital gains higher rate when it’s time to sell?

My understanding is that any short-term purchases you've made (past 12 months), that you also sell for a profit, will be subject to your short term cap gains tax rate. If you have the option, when selling, look to set up your brokerage on a FIFO basis (first in, first out) so that you're seeing older lots sold before the newer purchased lots. Assuming you have holdings more than 12 months old, you would see the older shares sold first and they'd only be subject to long term cap gains tax rates. You might have to contact your brokerage to check on this, but it will (hopefully) be worth it in the long run.

 

[Chopper]

Yea I get that, but when you dollar cost average are you pretty much stuck with the short term capital gains higher rate when it’s time to sell?

No. FIFO.

 

[johnnyredstorm]

Y’all worry about taxes too much. If you made money that’s the cost of business and be happy you made money. Taxes is a good problem to have.

 

[coolcool]

No. FIFO.

highest cost first out

 

[daved739]

Thanks guys.

 

[sole searchin]

What’s this hype with AMC? Another pump?

 

[iheartboost]

Yup.

 

[WASHED KING]

What’s this hype with AMC? Another pump?

*buys puts*

 

[Chopper]

Initiated a position in ABNB today about $131 and LRCX about 585.

 

[fargin]

still stupid

 

[216c2a]

https://www.cnbc.com/2021/05/17/att...ssets-to-create-a-new-standalone-company.html

Sounds good to me.

 

[Arthur Shelby]