SIRI Intraday Thread: Thursday, March 26th

[winagain35]

You can't claim the loss till you sell the new shares. Since you can only claim 3k loss per year you may not want to claim all of them anyway

You can carry over any amount over $3k per year. I claimed 3k for 08 and have an additional 3k carried over to 09...

[exilejeff]

If you sell for a loss remember you have to wait thirty days to buy back or it's a wash sale and you can't claim a capital loss.

but that is only within the same brokerage account right?
if i sell siri in my USAA
transfer the proceeds to my zecco
buy siri 6 days later.....usaa reports the loss because they don't know i bought again.....for all they know i blew it in vegas
or am i missing something

[exilejeff]

You can't claim the loss till you sell the new shares. Since you can only claim 3k loss per year you may not want to claim all of them anyway

well my loss is only like 2k anyways..... .don't have much of a portfolio yet just getting into it :P

[relmor2003]

No,the loans have stopped being traded,that is reason for toxic plan,they are mark to market at last trade,hence you see they want to change it for banks so they can account it as 500mil in loans is 500mil on books,so they don't have to capitalize their books with lendable cash,(our bailout money)...

Yes, you are agreeing with me. I know they arent being traded. Do you think the banks would want to get rid of them if they felt 100 cents, .95 cents or .90 cents on the dollar was obtainable? Of course not. The banks are lying to the stockholders, and the public. They are in terrible dire straights if those assets arent removed. They have auto loans, personal loans, credit card loans, that arent part of the "toxic" plan. Those are mostly mortgage loans. What about the other loans? 100 cents on the dollar sound right to you?

[JohnnyIrishXM]

Bonds are toast.

Yes Burnt toast,that is why i favor buying the loans with taxpayer money and holding until housing prices rise and economy improves and then we can refinace these people out of the loans with stricter underwriting standards and the treasury(taxpayers) can make a nice profit to put directly towards Social secutrity fund...Buffet said in august if he had the money he would do this himself...

[winagain35]

but that is only within the same brokerage account right?
if i sell siri in my USAA
transfer the proceeds to my zecco
buy siri 6 days later.....usaa reports the loss because they don't know i bought again.....for all they know i blew it in vegas
or am i missing something

The IRS doesn't care which brokerage service you use... You have to report your stock sales and purchases either way.

[JohnnyIrishXM]

Yes, you are agreeing with me. I know they arent being traded. Do you think the banks would want to get rid of them if they felt 100 cents, .95 cents or .90 cents on the dollar was obtainable? Of course not. The banks are lying to the stockholders, and the public. They are in terrible dire straights if those assets arent removed. They have auto loans, personal loans, credit card loans, that arent part of the "toxic" plan. Those are mostly mortgage loans. What about the other loans? 100 cents on the dollar sound right to you?

Other loans are probably about 96% with default rates rising,but they are taking care of that with lowering credit limits on cards and and raising INT on loans for cars and credit cards,plus other fees..I agree.

[Brandon Matthews]

Brandon, I agree. We should close between .36 and .38 cents today. If we close over .39 its extremely bullish. Low volume once again, lets all pray for it.

I think the low volume theory is correct. In order to attract buyers, they gap the stock up, rather than lower the price. Seems kind of ass-backwards to me but that seems to be their MO. As long as demand exists in this range, it wont budge.

[transam]

Any body seen this order that went through at .36? when bid/ask were .3698/.3699

[exilejeff]

The IRS doesn't care which brokerage service you use... You have to report your stock sales and purchases either way.

hmm.....because i don't recall when filing in 2008....mailing in the purchases that had the purchase dates, only reporting dividends and so forth......