[x]

See Where You Rank in Virginia

  1. Like everyone, got hit hard in the market today. I just started investing in October, invested about 8500 and got it up to 10,200 for about a 18% gain. Anyway, Cramer predicted today that the next two days would be rough as well until some things start getting sorted out over in the middle east. However, since I haven't owned these stocks for a year I would be subject to paying the higher tax rate if I sell them now. Does this "short term" selling with the higher taxes make it not worth it for me to sell off where I'm at now and wait for things to stabilize back out. Should I just ride the wave down and see what happens and hope its not too bad to where I can eventually get the long term status on my stocks? Whats my play?
    Add Zien50 to Rail
  2. well lets see. you have to pay 20% on your 1,700 profit or you don't sell and the value drops to 8,400 and you get 100 to deduct off your income next year

    here's some serious advice. If you think the market's going down, better to just pay taxes on gains. I know that's in Cramers book because I read it.

    Is this money your emergency fund? Are you going to need it in the next five years? Do you have any idea of what you're doing in the stock market or are you just out there guessing? All these questions are relevant to any advice that will be dispensed
    Edited By: dolphin13 Feb 23rd, 2011 at 05:36 AM
    Add dolphin13 to Rail
  3. Your title says "short selling" but i think what you mean to say is short term holding. Short selling is a very different thing.

    imo the market has just been waiting for a reason to sell off b/c its had such a good run. I think the markets will be rocky for the next week or two and then start to come back again. I had to sell a bunch of positions this morning b/c i'm going on vacation tomorrow and i wont be able to track / trade for a week. I wouldn't have sold as much if i could have been around to make better day to day decisions.

    If you have decent value plays with dividends i would wait it out. If you have some speculative stocks in there, you could be in for a bumpy ride. I guess it depends on your gut feel for what you hold in your portfolio. I think this will be a short term correction but it could be a fairly big correction.

    edit - i agree with what Dolphin said ... it really depends on your time horizon and personal wealth factors
    Edited By: saxman Feb 23rd, 2011 at 05:44 AM
    Add saxman to Rail
  4. I have a great play. Apple. But I just need it to stop bleeding first. unless we have a big correction, apple will go to at least 365, maybe 370 within a couple months. I've never been an option guy but I think this is my shot
    Add dolphin13 to Rail
  5. I really like APPL, i just wish i had liked it sooner. I have a small position in HPQ that got killed after hours today. Looking to add when i get back from holidaze. And maybe get into apple if it corrects enough.
    Add saxman to Rail
  6. yeah i bought for my aapl for my retirement account at 124 maybe threeish years ago.

    bought some for my play fund a couple weeks ago at 335.
    Add dolphin13 to Rail
  7. I'm a little concerned about gold right now - early morning it was up quite a bit (which makes sense with unstable conditions overseas) and by days end it was almost flat. It may not be immune from the sell off thats about to hit. Maybe the guy talking about a gold short knew what he was talking about lol.
    Add saxman to Rail
  8. and who told him that gold was going to 1400?

    dolphin13raiseshand

    dolphin13 OT Vice MVP
    Kumasi
    Ghana

    Posts: 18,212
    Joined: Jan 07

    5 Days Ago (2/17/2011 9:48pm) in reply to saxman
    pretty sure you're going to get annihilated Mr. Galt. Gold is definitely going to 1,400. and we're starting to show signs of inflation...
    Edited By: dolphin13 5 Days Ago at 09:48 PM

    This one time I was able to buy some gold. The more I bought the better the discount. I begged and pleaded kidrockin to go in with me and split it. I told him it would pay off. He hemmed and hawed and said he'd pass. So I wound up borrowing money from someone for the first time in my life.

    gold was under 700 an ounce
    Edited By: dolphin13 Feb 23rd, 2011 at 06:07 AM
    Add dolphin13 to Rail
  9. Gold still aightttttt
    Add budo09 to Rail
  10. About fucking time we had a day like this. I hate watching otherrrr people make money on longs when i am mostly cash in the investment side.

    Lets keep this going down. We still have more govts to overturn. Govts with oil. Weeeeee! Instability! Woooo! Iran! Jordan! Ethiopia! Pakistan! Yemen! Come on downnnnnn!

    Then we can trickle back to worrying about countries loan and solvency problems. Lots of future opportunity out there.

    A reality trigger is long overdue. (dec 26th imo the party shouldve been over until august-ish lows.)

    i would haaaate to not make my standard 25% in boring retirement funds for the first time so lets goooooo bouncing in august for a nice short term run to christmas again. please? Ty. Go go go goooooo!
    See ya then.
    Add skisteve to Rail
  11. Obv I mean short term holding instead of short selling, typed the message as I got in the bed drunk last night. I am trying to go to medical school in 1.5 years, so I think I will probably need this money for that. Therefore, I think I am going to sell off today and avoid the bumpy ride and maybe just pay the 20% on my gains. Hurts, but I dont think I have a choice.

    My holdings are: AAPL, AGU, IBM, GM, and MVV

    Just put in a market order to sell everything except GM, which is my smallest holding, because they announce earnings at the end of this week and I'm hopeful. ::Sigh:: was a good run, hopefully things will turn back around and I can get back in soon. Just hate paying the extra taxes.
    Edited By: Zien50 Feb 23rd, 2011 at 01:43 PM
    Thread StarterAdd Zien50 to Rail
  12. first you listen to Cramer.. so i dont even know why im replying. that guy is a fucking idiot. he wanted you to buy and hold every bank that is no longer around during the collapse. hes a joke.. BUY BUY BUY!!

    also Gold was only down 2 dollars yesterday after a 14 point jump on monday. (commodities pit was open on pres day)

    also, AAPL is the biggest pile of shit when it comes to a stock right behind netflix. They pump up this stock like its the best thing since the wheel. guess what? its not. its way overpriced.

    the market is only up cuz the dollar is sinking like a rock. were in the worst economic shape since the depression right now.

    go long gold and silver and maybe temp long on Oil and any 'stocks' related to those things such as gold miners.

    www.zerohedge.com >>>>> CNBC..

    gold is going to 2000+ and silver is prob going paste 50..

    only 3 people i listen to on CNBC and one is a guest.. roflcopter.
    Add dtkodak to Rail
  13. Why is aapl overpriced?
    Add dolphin13 to Rail
  14. well to start its a huge weight (% of) the QQQQ which is widely held by mutual funds etc.. the stock has been on a non stop tear since i bought it back at the 80.00 level.. it makes 1 product that has spawned into 4 products.

    CNBC and others pump it up for their own gain. Look how much EVERY DAY they talk about AAPL? There is bigger stories then the same shit day in and day out about AAPL. While they do 2 sec on the housing market thats been going down for the last 5months straight. just plan sick.

    i bet most avg joes that own stock, own appl just because cnbc told them too. its not the 2nd biggest company in america.. sorry folks. oh but wait.. the stock says it is.
    Add dtkodak to Rail
  15.  
    Originally Posted by dtkodak View Post

    first you listen to Cramer.. so i dont even know why im replying. that guy is a fucking idiot. he wanted you to buy and hold every bank that is no longer around during the collapse. hes a joke.. BUY BUY BUY!!

    also Gold was only down 2 dollars yesterday after a 14 point jump on monday. (commodities pit was open on pres day)

    also, AAPL is the biggest pile of shit when it comes to a stock right behind netflix. They pump up this stock like its the best thing since the wheel. guess what? its not. its way overpriced.

    the market is only up cuz the dollar is sinking like a rock. were in the worst economic shape since the depression right now.

    go long gold and silver and maybe temp long on Oil and any 'stocks' related to those things such as gold miners.

    www.zerohedge.com >>>>> CNBC..

    gold is going to 2000+ and silver is prob going paste 50..

    only 3 people i listen to on CNBC and one is a guest.. roflcopter.

    I completely agree with the first part that is bolded. But completely disagree with the 2nd part - as of right now AAPL is worth 338 and NFLX is worth 221. Regardless of what 'valuations' say they should be worth, the fact remains its an open market and the market has decided that 221 is fair value for NFLX - NFLX has been 'overpriced' since the 100s...
    Add shighley3205 to Rail
  16. Saving myself some money today
    Thread StarterAdd Zien50 to Rail
  17. dt is way off base IMO. Just look at Apple's PE. Look at how the company is growing.

    To say they make one product that spawns into four is silly. That's like saying a toyota only makes one product (a car) that has spawned into a few.

    The app store is like a freaking printing press. Sales of iMacs and macbooks are growing at ridiculous rates. The ipad is a tremendous success and so is the iphone.

    They have 27 billion in cash and zero debt with a PE of 19. They're forward PE is 13

    oh and Mr. Galt still getting raped on his gold shorts as gold goes higher and higher and higher
    Edited By: dolphin13 Feb 23rd, 2011 at 07:54 PM
    Add dolphin13 to Rail
  18. Actually, Apple said they barely beat breaking even in the App store and Itunes
    Thread StarterAdd Zien50 to Rail
  19. Also Android market share on phones and apps are eating up apples by the day.
    Add dtkodak to Rail