Market Watch for the week of 8/9/2009

[Sean]

hey bill, i saved the names of the books on my computer at home this morning.
i'm holding bcle/mglg/saro
i would read the books at work but i don't think i'm allowed. i'm supposed to be working

[Sean]

i think the rogers cup starts soon or already started.... man! i can't watch it ciz i'm at work!, nadal is back from his injury and roger will be there too (just got his #1 back)

[Los Tiburones]

Hi Team,
I'm so new to investing that I have never had to apply capital gains/losses to my taxes yet. That being the case, I have a situation that I could use some advice on....

I bought AMNE the day before the F/S 100K shares at .01. After the 5 for 1 F/S the shares are now worth .0012 each giving me a net loss of $400 on the investment.
HOWEVER..
Due to the F/S my acct is showing that I have $4400 loss on the investment.
I only put $1000 into it.
So my question is, if I sell at this loss, will I be able to count it as a $4400 loss on my taxes or just $400 loss?

If it is the $4400 loss then this just might be the most profitable loss I'll ever have!!

All tax advice is appreciated guys.

Hi Shot's, no expert here but it should be an apples to apples comparisson - Whatever your true cost basis is, is what you should be taxed on, besides I think you can only write off $3,500 per year anyway. It should even out regardless of the split ...

[billhart22]

i think the rogers cup starts soon or already started.... man! i can't watch it ciz i'm at work!, nadal is back from his injury and roger will be there too (just got his #1 back)

What is the Rogers cup? I know that may be a dense question. Is it a hockey, football or badminton trophy?

[billhart22]

Can anyone get on the wheel yet? I am not having any luck what-so-ever. I have been trying most of the morning.

According to my Scottrade L2 there has only been 9 trades in the last forty minutes.

[Sworntwofun]

I sold BEHL at .075 looking for a pullback, now that it looks like it has come down a little, I have a new plan.
After the MGLG PR at 1pm today, MGLG will shoot quickly to 1 dollar, I will sell and use my new 3.86 million dollars to buy back my shares of BEHL at .0685.
Damn I really am a genius.

Is their really news on mglg coming out at 1pm today?

[Sean]

tennis it's a canadian tournament.
<-- picture=tennis player
nope i can't get into ihub either, haven't got in since 6am in morning.

haven't u seen the commercial w/ tiger woods and roger federer for gillette.
man i'm bored, does any1 know any good PC games? has any1 ever played warcraft 3?

[ShotsII]

Hi Shot's, no expert here but it should be an apples to apples comparisson - Whatever your true cost basis is, is what you should be taxed on, besides I think you can only write off $3,500 per year anyway. It should even out regardless of the split ...

Hi shark
agreed. But I've had a very good first year with a decnt amt of capital gains. what I was thinking was that the $4400 loss could offset those gains a bit so tht I don't have to pay so many taxes to Sam.

Is my thinking off?

[thetree]

Dear Sworn,
I was just being a jerkoff.
Yours truly,
Tree.

[billhart22]

tennis it's a canadian tournament.
<-- picture=tennis player
nope i can't get into ihub either, haven't got in since 6am in morning.

haven't u seen the commercial w/ tiger woods and roger federer for gillette

Are you a professional tennis player?

I haven't seen the commercial. I stay away from commercial T.V. as much as possible.

Maybe the spoke is clogged up with QASP posts. I know that I couldn't keep up with them yesterday....man, they were posting like crazy.