Post Earnings High Wednesday 2.6.13

green stock sell off continues, get ready to get in.....

I've done the same with Fidelity. You have 3 days or until the trade settles where you can have them [at least at Fidelity] adjust your tax lots. Also, for tax reporting purposes even if you miss the time frame and sell for a loss, you can report to IRS a lower cost lot. YOu just need to track it going forward for when you finally do sell the higher cost shares so you can report that gain/loss. A pain because if you look in your online account they would be the 3.10 lot. But just something to keep in mind.

EDIT: I learned all this when I forgot to select specific lot to trade and it did FIFO and sold my shares with a .16 and .18 cost avg!!!!

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Originally Posted by jackweed

Man thank goodness for etrade. I'm sure other brokers can do this to but I sold a 5000 share lot of siri on friday at $3.24 from a $3.10 lot I bought in january. or so i thought. I turns out I actually sold 5,000 of a $3.42 lot back in 2008! Not at all what I wanted to do. Instead of a $700 gain it was a $900 loss!! I was able to go into my portfolio and change the lots! Hopefully i won't make that mistake again.

I'm sure you can do this with other brokers but I think you only have a 3 day window to modify which lot

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Originally Posted by Limit5Bass

Anyone familiar with Elliot Wave analysis? If so, then you will REALLY REALLY like my next SIRI chart.....

PS - the lines are not trend lines, they are my interpretation of the formation of the elliot waves. The red lines are the next potential motive wave that appears to be forming....(waves 1-5 of the previous wave are considered a motive wave.....waves a-c are called a corrective wave)


Hey Bass, I was able to follow and absorb the Stikky book for which I am grateful to you for putting me on to it. I have to tell you though, when you first mentioned you were digging into Elliot Wave analysis, I went to their web site to see just what that was all about. They have two or three video tutorials there, but my eyes rolled back into my head about half way through the first. I admire you for your ability to grasp what that is all about, and I'll just be content to hear your own personal take as you offered above............ I'll take your word for how I should REALLY REALLY like your chart. Thanks for the positive outlook.

PS. Nice to have your input as always.:money:

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Originally Posted by radejs

green stock sell off continues, get ready to get in.....

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Been biting my tongue on this issue.

What exactly do you think you're buying? Other than a volatile penny stock with a catchy ticker symbol that plays on peoples desire to get in on the "next big thing" but don't really know what that "thing" is or how it's gonna work?

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Originally Posted by Limit5Bass

Anyone familiar with Elliot Wave analysis? If so, then you will REALLY REALLY like my next SIRI chart.....

PS - the lines are not trend lines, they are my interpretation of the formation of the elliot waves. The red lines are the next potential motive wave that appears to be forming....(waves 1-5 of the previous wave are considered a motive wave.....waves a-c are called a corrective wave)

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Thanks BassMan!

I don't know anything about Elliot's Wave but from the looks of it, if we hold that bottom, we have a real nice bounce coming?

I put on 4 trades early before the open as I was out of pocket at the open. The first at 3.16 hit. The second at 3.15 only 4400, less than half. The third at 3.14 and 4th at 3.12 did not hit of course. I am surprised my 3.15 did not fill the rest since we sat there for 20 minutes. May bode well for the rest of the day.


EDIT: Damnit, now I see we dropped again. It may hit after all. Not yet though.

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Originally Posted by Wolf Child

Been biting my tongue on this issue.

What exactly do you think you're buying? Other than a volatile penny stock with a catchy ticker symbol that plays on peoples desire to get in on the "next big thing" but don't really know what that "thing" is or how it's gonna work?

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Playing the swings of a volatile stock,, what else am I doing?

Glad to see you Wolf

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Originally Posted by Limit5Bass

Anyone familiar with Elliot Wave analysis? If so, then you will REALLY REALLY like my next SIRI chart.....

PS - the lines are not trend lines, they are my interpretation of the formation of the elliot waves. The red lines are the next potential motive wave that appears to be forming....(waves 1-5 of the previous wave are considered a motive wave.....waves a-c are called a corrective wave)

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Originally Posted by denco1

Thanks BassMan!

I don't know anything about Elliot's Wave but from the looks of it, if we hold that bottom, we have a real nice bounce coming?

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BassMan, quick question-does it have to hit that line to complete the wave before it moves up?

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Originally Posted by radejs

Playing the swings of a volatile stock,, what else am I doing?

Glad to see you Wolf

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That's never a bad thing. Just know that none of these tickers are "THE pot stock of the future".

But someday there will be one or two that will make us a Bonewagon full of cash for the long run if we catch it in time.

I will be keeping my eyes out for it too. It's gonna happen.

EDIT: Oh, and Thanks :cheers:

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Originally Posted by denco1

I put on 4 trades early before the open as I was out of pocket at the open. The first at 3.16 hit. The second at 3.15 only 4400, less than half. The third at 3.14 and 4th at 3.12 did not hit of course. I am surprised my 3.15 did not fill the rest since we sat there for 20 minutes. May bode well for the rest of the day.


EDIT: Damnit, now I see we dropped again. It may hit after all. Not yet though.

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They are hitting me again in small chunks....not filled yet.

EDIT: May just pull the other 2 and put 1 at the BassMans potential bounce.

EDIT2: Looking at the 1 and 2 area of BassMans chart, it seems that it does not have to touch to bounce as in the area 2.