OT: Stock trading | Page 88 | The Boneyard

OT: Stock trading

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I tried to buy AMC today and it was denied due to affiliation with twitter/barstool type chatter. How is that legal?
 
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someone mentioned 'trading places.'
'Okay, pork belly prices have been dropping all morning, which means that everybody is waiting for it to hit rock bottom, so they can buy low. Which means that the people who own the pork belly contracts are saying, "Hey, we're losing all our damn money, and Christmas is around the corner, and I ain't gonna have no money to buy my son the G.I. Joe with the kung- grip! And my wife ain't gonna f... my wife ain't gonna make love to me if I got no money!" So they're panicking right now, they're screaming "SELL! SELL!" to get out before the price keeps dropping. They're panicking out there right now, I can feel it.!'
fear, greed. we already covered 'supply, demand.'
I was about to post the trading places reference too. Three clarifications:
1. Ending squeeze was OJ futures.
2. The Dukes were long & screwed not short (like Gamestop), but same yet opposite concept in that the Dukes effort to exit their long positions drove the price even lower than where it started.
3. The pork bellies are first referenced in the movie when one of the Dukes explains commodities to Eddie & describes how pork bellies are used to make bacon which you might find in a bacon, lettuce and tomato sandwich & then Eddie gives a deadpan 4th wall break look.
Carry on ;)
 

ClifSpliffy

surf's up
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At what point do people get rekt?
always sooner than they think possible. too much 'heart' in their analysis, and not enuf 'head.'
twas ever thus for 'fear, greed' situations.
it is patently redunkulous to survey the world's financial media, and hear very little aboot anything other than the current state of our 'stimulus plans.' kinda like watching cnbc and hearing nothing other than blather aboot apples lastest gizmo.
now, im heading over to blockbuster, to get the latest 'Rocky Climbs the Stairs' vhs. if it's not there, i'll prolly get the 'Ernest Saves the World from y2k one.' wish me luck.
 

StllH8L8ner

You’ll get nothing and like it!
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Well this would suck the life out of investing...

 
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Well this would suck the life out of investing...

Nah. It would only hit the ultra-wealthy:

Wyden would change to a “mark-to-market” system. That is, for wealthy Americans who report income above $1 million or assets above $10 million for three consecutive years, taxation would no longer be tied to when people sell their stocks, artwork, or houses. It would instead happen every year that the asset gains in value. If I hold stock worth $20 million one year and it increases in value to $23 million the next year, I would pay tax on that $3 million gain when I file taxes that year.


It's a great plan.
 

ClifSpliffy

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are BB and NOK part of this social media bubble? or are they true long term holds?

(edited grammar)
i have no idea other than to say that my new social media 'algo' has significant respect for those companies which own their own servers, therefore not relying on the big guys server infrastructure for ...anything, including 'approval' for their content. didn't we just learn that management here axed the pool, cuz of advertiser issues with the randy content? i certainly don't blame management for that -they've got a business to run.
 
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Buying $GME puts for a Jan 2022 expiration - good idea or no?

Gamestop is a legit garbage company, and the reddit guys are just doing this to stick it to the hedge funds/ AM's. Once the buzz dies down and their next earnings comes out everyone will realize what a POS stock this is again lol
 

HuskyHawk

The triumphant return of the Blues Brothers.
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Nah. It would only hit the ultra-wealthy:

Wyden would change to a “mark-to-market” system. That is, for wealthy Americans who report income above $1 million or assets above $10 million for three consecutive years, taxation would no longer be tied to when people sell their stocks, artwork, or houses. It would instead happen every year that the asset gains in value. If I hold stock worth $20 million one year and it increases in value to $23 million the next year, I would pay tax on that $3 million gain when I file taxes that year.


It's a great plan.

Until those people pay taxes and then suffer massive losses, which happens. It's beyond stupid.
 

UConnSwag11

Storrs, CT The Mecca
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Nah. It would only hit the ultra-wealthy:

Wyden would change to a “mark-to-market” system. That is, for wealthy Americans who report income above $1 million or assets above $10 million for three consecutive years, taxation would no longer be tied to when people sell their stocks, artwork, or houses. It would instead happen every year that the asset gains in value. If I hold stock worth $20 million one year and it increases in value to $23 million the next year, I would pay tax on that $3 million gain when I file taxes that year.


It's a great plan.
The elites don't pay the taxes. They write the bills. It will hit and hurt the middle class
 
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Nah. It would only hit the ultra-wealthy:

Wyden would change to a “mark-to-market” system. That is, for wealthy Americans who report income above $1 million or assets above $10 million for three consecutive years, taxation would no longer be tied to when people sell their stocks, artwork, or houses. It would instead happen every year that the asset gains in value. If I hold stock worth $20 million one year and it increases in value to $23 million the next year, I would pay tax on that $3 million gain when I file taxes that year.


It's a great plan.
Equity markets would crater. The need for liquidity would require constant selling and drive even shorter holding periods.
 
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I just locked up a 21% profit on my total capital today thanks to Reddit lol. The internet is forever undefeated.

Can the government do anything to stop this?
Can it? Yes. Should it is another question. Wall Street has their guy in office so I wouldn't be shocked to see a push to regulate retail investors
 
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HuskyHawk

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I'm temped to sell everything. I just closed about 10 positions on what I perceive as the most overvalued stocks and funds
 
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The elites don't pay the taxes. They write the bills. It will hit and hurt the middle class

While I think the idea of taxing unrealized gains is ridiculous and won't happen the idea that a tax that only applies to people with over $1m in income or $10M in assets hitting and hurting the middle class is a pretty poor observation. Generally speaking the top 1% of income earners (which would line up pretty nicely with "elites" - whomever the hell they are) pay close to 40% of all income taxes at the federal level.
 

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