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  1. Big Ben is offline
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    Joined: Mar 2009 Posts: 448
    04-21-2009, 01:47 PM #101
    If you have a 400k position on SIRI with an average of .26 and the stock pops to .63 and you watch the entire gain go out the window, your not a smart man! (movie quote sorry) That inaction is not only stupid it should be considered criminal. I know two guys with brochures for land on the moon, you sound like just the candidate.

    LOL

    Hit the sell button with 300k out the door at .62 round up 186k. Pick up those same shares of stock for 117-125k, not real hard. God for bid the stock pops to .70 and you missed the ride from .62 up to .7...that is the loser anthem. Take a new position at .7, less shares..I understand, but you have that gain in your pocket. In this market, one in hand is better that 30 madoffs in the bush.

  2. JohnnyIrishXM is offline
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    Joined: Feb 2009 Location: Valley Forge ,PA Posts: 1,583
    04-21-2009, 01:53 PM #102
    Quote Originally Posted by Big Ben View Post
    If you have a 400k position on SIRI with an average of .26 and the stock pops to .63 and you watch the entire gain go out the window, your not a smart man! (movie quote sorry) That inaction is not only stupid it should be considered criminal. I know two guys with brochures for land on the moon, you sound like just the candidate.

    LOL

    Hit the sell button with 300k out the door at .62 round up 186k. Pick up those same shares of stock for 117-125k, not real hard. God for bid the stock pops to .70 and you missed the ride from .62 up to .7...that is the loser anthem. Take a new position at .7, less shares..I understand, but you have that gain in your pocket. In this market, one in hand is better that 30 madoffs in the bush.
    Ben,before making comments you know nothing about in your financial situation,selling to buy back more only makes THE IRS rich at this tax bracket
    to the tune of 31 to 36%...not in this to make uncle sam rich...Hold it over 1 year and it drops to 10 to 15%....

  3. dmo2424 is offline
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    Joined: Jan 2009 Posts: 185
    04-21-2009, 01:54 PM #103
    Quote Originally Posted by Big Ben View Post
    If you have a 400k position on SIRI with an average of .26 and the stock pops to .63 and you watch the entire gain go out the window, your not a smart man! (movie quote sorry) That inaction is not only stupid it should be considered criminal. I know two guys with brochures for land on the moon, you sound like just the candidate.

    LOL

    Hit the sell button with 300k out the door at .62 round up 186k. Pick up those same shares of stock for 117-125k, not real hard. God for bid the stock pops to .70 and you missed the ride from .62 up to .7...that is the loser anthem. Take a new position at .7, less shares..I understand, but you have that gain in your pocket. In this market, one in hand is better that 30 madoffs in the bush.

    careful Big Ben... you don't know what Johnny's financial situation is, risk tolerance, nor strategy. I don't think it's a big deal to offer you nonstop "advice" about selling and booking short term (small) profits but your strategy is COMPLETELY different than others and I don't think people appreciate your tone. Just sayin. That and I hope Ben Rothlesdigger chokes on a Shittburgh burgher

  4. JohnnyIrishXM is offline
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    04-21-2009, 02:04 PM #104
    While Big Ben is doing the math on to other things....Relmor,as i said before only day traders worry about manipulation,hence is why they do it,longs don't mind because we know they do it to get shares cheap for the preffered
    clients and then let it run up so they and US longs make 4 to10 baggers...

  5. underway is offline
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    Joined: Mar 2009 Posts: 521
    04-21-2009, 02:05 PM #105
    Quote Originally Posted by JohnnyIrishXM View Post
    Ben,before making comments you know nothing about in your financial situation,selling to buy back more only makes THE IRS rich at this tax bracket
    to the tune of 31 to 36%...not in this to make uncle sam rich...Hold it over 1 year and it drops to 10 to 15%....
    Exactly. Capital Gains tax a helluva lot easier to swallow than tax on ordinary income....which is what happens when you don't hold for a year. Not saying you always hold for that, but it is ALWAYS part of the equation one must consider. Same for commissions. If you trading in some IRAs, commissions are high. And, not so easy to move that money quickly to other vehicles. So, there's a lot of factors that each of us have to deal with when making decisions, not the least of which is risk tolerance and short/long term strategy.

  6. underway is offline
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    04-21-2009, 02:09 PM #106
    Quote Originally Posted by JohnnyIrishXM View Post
    While Big Ben is doing the math on to other things....Relmor,as i said before only day traders worry about manipulation,hence is why they do it,longs don't mind because we know they do it to get shares cheap for the preffered
    clients and then let it run up so they and US longs make 4 to10 baggers...
    Just thought of something kinda funnny......there could be a few out there who just read your post about capital gains tax and holding stocks for a year, and said to themselves..."holy sh$t, you mean I will have to pay full tax on profits for those stocks I held for 6 months and sold? Damn!" and, especially frustrating for said knuckleheads who saw the same stock continue to rise after the sale to the 1 yr point.
    LOL!

  7. dmo2424 is offline
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    04-21-2009, 02:15 PM #107
    Quote Originally Posted by underway View Post
    Just thought of something kinda funnny......there could be a few out there who just read your post about capital gains tax and holding stocks for a year, and said to themselves..."holy sh$t, you mean I will have to pay full tax on profits for those stocks I held for 6 months and sold? Damn!" and, especially frustrating for said knuckleheads who saw the same stock continue to rise after the sale to the 1 yr point.
    LOL!
    I bet that is true and yet another reason to be long (or have at least a long term core and a spec position) most likely anyone cept the newbies of recent months will get a TAX BENEFIT up to $3000 since we all have most likely lost some $. Like me- i sold just a tiny bit of holdings before the end of the tax year to reap the benefits up claiming a $3000 loss (which was peanuts) but I didn't pay capital gains taxes on gains that's for sure

  8. JohnnyIrishXM is offline
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    04-21-2009, 02:16 PM #108
    Quote Originally Posted by underway View Post
    Just thought of something kinda funnny......there could be a few out there who just read your post about capital gains tax and holding stocks for a year, and said to themselves..."holy sh$t, you mean I will have to pay full tax on profits for those stocks I held for 6 months and sold? Damn!" and, especially frustrating for said knuckleheads who saw the same stock continue to rise after the sale to the 1 yr point.
    LOL!
    Yes that is funny,i posted that about 2 months ago and some newbees didn't know that!!! which is why i don't get day traders or swing traders,they would need to make at least a 2.8% profit to justify it,plus commissions...and funny thing is losses don't count with wash rule of 30 days...

  9. kingadrock666 is offline
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    04-21-2009, 02:16 PM #109
    woulda shoulda coulda.


    the longer i hold, the further away from the sell button i get.

    i have over 200% gains on half of my positions but i can't sell.

    how mad does that make you big ben?

    obviously, we were going to have a pullback after .63. i just wasn't awake to pull the trigger.

    seriously though, if i was awake, i wouldn't have sold. i expected the retrace to the 50's where it should of stayed. couldn't predict what really happened.

    unfortunately for all of us, we got walked down tremendously and instead of painting the close, they shit on the close. 5 minutes before close it was trading between .50-.52 and then the bottom fell out.

    woulda shoulda coulda.

    congrats, you made a good call. unfortunately us west coasters need to wake up at 6:30am to catch the open and 5:30 for premarket.

    i'll stay long and keep my day job and keep adding on dips all the way up.

    daytrading seriously cuts into my 9-5.

  10. underway is offline
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    04-21-2009, 02:17 PM #110
    Quote Originally Posted by dmo2424 View Post
    I bet that is true and yet another reason to be long (or have at least a long term core and a spec position) most likely anyone cept the newbies of recent months will get a TAX BENEFIT up to $3000 since we all have most likely lost some $. Like me- i sold just a tiny bit of holdings before the end of the tax year to reap the benefits up claiming a $3000 loss (which was peanuts) but I didn't pay capital gains taxes on gains that's for sure
    Where's Big Ben.....perhaps frantically dialing up his accountant? LOL!

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