MilitaryToFinance Posted April 21, 2020 Share Posted April 21, 2020 15 hours ago, di1630 said: Anyone know much about oil ETF’s? USO...I’ve lost my ass but you guys think that with eventual oil rebounds they could be a long term investment? Sent from my iPhone using Baseops Network mobile app Bashi pretty much hit the nail on the head but if you still own it, sell it today. They suspending creation of units, the whole ETF is broken and is now trading at a premium to NAV which should not happen. It is very likely this ETF is worth $0 in a month. No matter how much you already lost, you will probably lose 100% of what you have left if you continue to hold it. Link to comment Share on other sites More sharing options...
Ryder1587 Posted May 14, 2020 Share Posted May 14, 2020 Slowly starting to climb back up. Link to comment Share on other sites More sharing options...
gearhog Posted May 14, 2020 Share Posted May 14, 2020 6 hours ago, Ryder1587 said: Slowly starting to climb back up. Don't get suckered. You are here: 1 2 Link to comment Share on other sites More sharing options...
Runr6730 Posted May 14, 2020 Share Posted May 14, 2020 Anyone else perplexed at the market right now? There are almost no positive economic indicators at the moment yet the markets are steadily climbing back to pre-COVID levels. I’m sitting here watching the unemployment numbers, profit/loss reports, etc and it just doesn’t make sense to me. The market is way overbought IMHO. Link to comment Share on other sites More sharing options...
nunya Posted May 14, 2020 Share Posted May 14, 2020 Unemployment numbers are meaningless right now. Link to comment Share on other sites More sharing options...
FDNYOldGuy Posted May 15, 2020 Share Posted May 15, 2020 (edited) 2 hours ago, Runr6730 said: Anyone else perplexed at the market right now? There are almost no positive economic indicators at the moment yet the markets are steadily climbing back to pre-COVID levels. I’m sitting here watching the unemployment numbers, profit/loss reports, etc and it just doesn’t make sense to me. The market is way overbought IMHO. First and foremost, stock market doesn’t equal the economy. The economy is, IMHO, headed for a serious recession (if not full Depression), but that doesn’t mean the corps that make up the stock market are hurting as bad as average Americans. They have a faucet of cheap debt and bailout cash to keep their profits up. ~$3,000,000,000,000 in freshly printed bailout money, with a solid chunk going to corporations to buy back stock, pay bonuses, and take out more cheap debt to lather, rinse, repeat, is a large part of the stock market continued push. Unemployment benefits and salary loans pushing off the inevitable are trying to stop the bleeding, but it’s not gonna hold. Oh, and the fact it’s an election year and I’m sure more than a few Rs and big money backers think (probably rightfully so) a tanking stock market will hurt election chances (hence higher future taxes), my guess is we’re in solid early-mid 2008 market between Bear Sterns failing and before Lehman went belly up. If it survives to the end of the year (no matter who wins the election), I’ll be pretty shocked. The real estate market might not be far behind, as unemployment hurts demand and the fallout of AirBnB pushes a glut of homes onto the (longer-term) rental and purchase market, I don’t see it being pretty. Then again, I’m an idiot fireman trying to fly jets and not a trader for Goldman Sachs, so what the hell do I know? Edited May 15, 2020 by FDNYOldGuy Went a little more bearish 1 Link to comment Share on other sites More sharing options...
pawnman Posted May 15, 2020 Share Posted May 15, 2020 13 hours ago, torqued said: Don't get suckered. You are here: Fortunately, there's a solution. https://imgur.com/gallery/BlK4jzM 1 4 Link to comment Share on other sites More sharing options...
FDNYOldGuy Posted May 15, 2020 Share Posted May 15, 2020 2 hours ago, pawnman said: Fortunately, there's a solution. https://imgur.com/gallery/BlK4jzM 100%. Time IN the market is better than timING the market. 1 Link to comment Share on other sites More sharing options...
Ryder1587 Posted June 5, 2020 Share Posted June 5, 2020 This week has been amazing. Glad I doubled down in April. Link to comment Share on other sites More sharing options...
MilitaryToFinance Posted June 17, 2020 Share Posted June 17, 2020 SPACs have terrible track records when bought at NAV and "better burger" restaurants are a dime a dozen now with almost no barriers to entry. If you're treating this like a penny stock promotion and hoping the squeeze keeps running so you can sell to a greater fool tomorrow that's always possible. If you think you're getting a value buying it at over $18 before the deal even closes I think you should do some more detailed research and reassess your valuation. Link to comment Share on other sites More sharing options...
Day Man Posted June 17, 2020 Share Posted June 17, 2020 @MilitaryToFinance, what's your take on FNMA/FMCC now? I personally think there will be a wave of foreclosures in the next 6 months or so, but not sure how that affects these 2. Link to comment Share on other sites More sharing options...
MilitaryToFinance Posted June 17, 2020 Share Posted June 17, 2020 2 hours ago, Day Man said: @MilitaryToFinance, what's your take on FNMA/FMCC now? I personally think there will be a wave of foreclosures in the next 6 months or so, but not sure how that affects these 2. I ended up selling my preferred stock a few weeks after our previous discussion in June 2019 so I haven't paid as close attention over the last year. I would say there have been some concrete steps made in moving forward with the plan to get out of conservatorship. They have reserves against foreclosures right now and I don't really see it getting bad enough to cause a big problem for them. I'm more concerned about retail backed properties and some office values than I am residential mortgages. My biggest concern with FNMA/FMCC right now is the election. If Trump wins you probably get them released to be public companies again under his second term. If Biden wins I don't know that this gets done before Jan 2021. 1 Link to comment Share on other sites More sharing options...
billy pilgrim Posted June 21, 2020 Share Posted June 21, 2020 (edited) I wish I understood what was going on right now... S&P 500 Edited June 21, 2020 by billy pilgrim Link to comment Share on other sites More sharing options...
MilitaryToFinance Posted June 23, 2020 Share Posted June 23, 2020 I think this is what's going on right now. 1 Link to comment Share on other sites More sharing options...
di1630 Posted December 30, 2020 Share Posted December 30, 2020 Stock question: a few years back when oil prices tanked, I bought a myriad of oil funds dirt cheap. A few went bankrupt. I never declared the losses when it happened 2 years ago, can I retroactively declare the loss to offset my capital gains even after 2 years?Sent from my iPhone using Baseops Network mobile app Link to comment Share on other sites More sharing options...
pawnman Posted December 31, 2020 Share Posted December 31, 2020 On 12/29/2020 at 9:48 PM, di1630 said: Stock question: a few years back when oil prices tanked, I bought a myriad of oil funds dirt cheap. A few went bankrupt. I never declared the losses when it happened 2 years ago, can I retroactively declare the loss to offset my capital gains even after 2 years? Sent from my iPhone using Baseops Network mobile app Pretty sure you're going to need to file an amended return for the year those companies went bankrupt, but you can carry the losses forward to offset capital gains this year. Link to comment Share on other sites More sharing options...
Orbit Posted January 28, 2021 Share Posted January 28, 2021 Who owns GME now? Link to comment Share on other sites More sharing options...
uhhello Posted January 28, 2021 Share Posted January 28, 2021 I had an order for a few hundred on AMC this morning but cancelled as soon as i placed it. Of course it went up $4 bucks right as I did it. Chickenshit at gambling. Link to comment Share on other sites More sharing options...
pawnman Posted January 28, 2021 Share Posted January 28, 2021 7 hours ago, Orbit said: Who owns GME now? Nope. I missed it. Kinda wish I'd bought in at $20, but I'm definitely not buying in at $300+. Link to comment Share on other sites More sharing options...
ClearedHot Posted January 28, 2021 Share Posted January 28, 2021 29 minutes ago, pawnman said: Nope. I missed it. Kinda wish I'd bought in at $20, but I'm definitely not buying in at $300+. Gamestop....kidding. It looks like today's Reddit Mob Market Mover is American Airlines. Link to comment Share on other sites More sharing options...
ImNotARobot Posted January 28, 2021 Share Posted January 28, 2021 https://www.foxbusiness.com/markets/could-american-airlines-become-the-next-gamestop-reddits-wallstreetbets-says-its-possible Link to comment Share on other sites More sharing options...
ryleypav Posted January 28, 2021 Share Posted January 28, 2021 (edited) 1 hour ago, pawnman said: Nope. I missed it. Kinda wish I'd bought in at $20, but I'm definitely not buying in at $300+. Some dude has been holding calls on GME since 2019. The dude made over $25M in a day....unrealized of course. But still. Edited January 28, 2021 by ryleypav 2 Link to comment Share on other sites More sharing options...
ClearedHot Posted January 28, 2021 Share Posted January 28, 2021 9 hours ago, uhhello said: I had an order for a few hundred on AMC this morning but cancelled as soon as i placed it. Of course it went up $4 bucks right as I did it. Chickenshit at gambling. Did you have Blackberry in the bullpen? It is funny how the recent actions around Gamstop, AMC and Blackberry started. I giant FU to moneymakers trying to short. The Reddit mob punked them hard out of their short position. 1 Link to comment Share on other sites More sharing options...
ryleypav Posted January 28, 2021 Share Posted January 28, 2021 4 minutes ago, ClearedHot said: Did you have Blackberry in the bullpen? It is funny how the recent actions around Gamstop, AMC and Blackberry started. I giant FU to moneymakers trying to short. The Reddit mob punked them hard out of their short position. I hate tik tok, but this is funny. 2 Link to comment Share on other sites More sharing options...
Day Man Posted January 28, 2021 Share Posted January 28, 2021 10 hours ago, Orbit said: Who owns GME now? bought 100 shares a few days ago and immediately sold a covered call...missed ~$30k in profit 😐 Link to comment Share on other sites More sharing options...
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