Money Investing megathread extravaganza - Page 687

**DaFace** · 06:35 PM

A place to talk about investing stuff.

SupDock · 06-25-2021, 12:29 PM

Quote:

Originally Posted by eDave

Basically he was only able to pull this off because he was a accredited investor who had access to shares of his own company before anyone else.

No, the average person cannot pull this off.

Exactly

Thiel bought 1.7 million shares of PayPal PYPL, -1.35% in 1999 for $0.001 per share, or $1,700, ProPublica reported.

Not sure how this is relevant to most of the world.

ThaVirus · 06-25-2021, 01:15 PM

Quote:

Originally Posted by Buehler445

Yeah. It will be taxable on withdrawals but you should be able to deduct the contributions from the your taxable income the year you made them. If you did it this year for sure deduct them. Might be worth amending your return if your preparer works cheap.

Ya know, I filed my taxes this year and then I contributed the $6k so I wonder if I'm just shit out of luck.

ReynardMuldrake · 06-25-2021, 01:16 PM

It's possible to convert funds in a 401K to a Roth IRA. I did it myself last year. HOWEVER you will take a hit on tax liability for the entire amount. You will want to set aside some money to cover your next tax return.

**DaFace** · 06-25-2021, 01:26 PM

Quote:

Originally Posted by ThaVirus

Ya know, I filed my taxes this year and then I contributed the $6k so I wonder if I'm just shit out of luck.

If you contributed $6k this year, that will be something you deduct on your 2021 return (that's due in April 2022). You can also amend your 2020 return (that you filed recently), but it'll take a bit of work. Still, if you're in the 24% tax bracket (purely guessing), that's worth roughly $1,440 on $6,000 contributed, so it will likely be worth the hassle.

ChiliConCarnage · 06-25-2021, 06:10 PM

Quote:

Originally Posted by DaFace

But if they converted it to a Traditional, you shouldn't be contributing to it directly. Or at least if you are, those dollars should be tax deductible. At a minimum, you need to confirm what type of an account it is, and if it's a Traditional IRA, I'd dig into whether you can get some tax money back for what you've contributed.

The AGI limits for Trad IRA are halfish of Roth IRA. If he wants to claim the deduction, he'll want to make sure he's under the income limit.

Halfcan · 06-25-2021, 08:04 PM

Progenity- PROG

Has been on fire. Up 64% in 3 weeks since I bought a position. More good news on the way.

**lewdog** · 06-25-2021, 08:37 PM

All you ****ing assholes always share your trades AFTER you've made big gains!

Halfcan · 06-25-2021, 09:30 PM

Quote:

Originally Posted by lewdog

All you ****ing assholes always share your trades AFTER you've made big gains!

I have posted plenty of great buys- which have been ignored since I did not make my recommendations into Memes.

Hey guys- Buy Prog- I saw it on Reddit- going to $10,000 a share like Gamestop!!!

**Buehler445** · 06-25-2021, 09:36 PM

HEY MOTHER****ER

I told you about the Deere Play right when I made it. It's the only good thing I've done this year.

**lewdog** · 06-26-2021, 07:10 AM

No one wants to share their trades in real time. Only after they’ve exploded.

And I bet we have some CCIV BNGO SNDL FUBO ZOM CRON bag holders….just to name a few. You’ll never admit it though.

**banyon** · 06-26-2021, 07:14 AM

Quote:

Originally Posted by lewdog

No one wants to share their trades in real time. Only after they’ve exploded.

And I bet we have some CCIV BNGO SNDL FUBO ZOM CRON bag holders….just to name a few. You’ll never admit it though.

I’m holding a FUBO bag. But it is getting lighter to carry lately/

Newest trades:

RBLX 100 target bought yesterday

Sold FSLY bull put at 54$ prob 3 days ago

MTG#10 · 06-26-2021, 07:19 AM

Quote:

Originally Posted by lewdog

No one wants to share their trades in real time. Only after they’ve exploded.

And I bet we have some CCIV BNGO SNDL FUBO ZOM CRON bag holders….just to name a few. You’ll never admit it though.

Every stock I've pushed here was right before or right after I bought in except for AMC and GME because I bought into them during my CP hiatus. But I still brought up AMC when it was under $9. I bag-held CCIV and BNGO for a few months then recently was able to make a tiny profit on both and got out but recently got back into BNGO. I lost about $1k on ZOM, no problem admitting that but I wasn't the one pimping it here.

Its obvious you didn't look at the 3 month FUBO chart before you added that to your list, I brought than one up too on 4/8 and its up 65% since then.

**banyon** · 06-26-2021, 07:27 AM

Quote:

Originally Posted by MTG#10

Its obvious you didn't look at the 3 month FUBO chart before you added that to your list, I brought than one up too on 4/8 and its up 65% since then.

It’s really important with these momo stocks IMO to follow the 50 day EMA (below blue line). I prefer the 6 mo timeframe. Look at FUBO. It loses the 50 day, straight into the toilet. Regains 50 day, off to the races. Really seems these hedgies and algos really have a lot keyed to that.

MTG#10 · 06-26-2021, 07:36 AM

Quote:

Originally Posted by banyon

It’s really important with these momo stocks IMO to follow the 50 day EMA (below blue line). I prefer the 6 mo timeframe. Look at FUBO. It loses the 50 day, straight into the toilet. Regains 50 day, off to the races. Really seems these hedgies and algos really have a lot keyed to that.

I brought it up after the GME induced plunge that crashed almost all meme stocks though...that's the dive you're referring to. It gained immediately the day after I mentioned it, dropped back down and got even lower, then slowly made its way up to where it's at now. Unfortunately I wasn't patient with that one and only made a small profit.

**lewdog** · 06-26-2021, 09:00 AM

Quote:

Originally Posted by banyon

I’m holding a FUBO bag. But it is getting lighter to carry lately/

Newest trades:

RBLX 100 target bought yesterday

Sold FSLY bull put at 54$ prob 3 days ago

My stop on RBLX is the low of 6-23 (82) x .999 = 81.92

I will sell 25% of my position at 5% gain and adjust stop accordingly then. Looking for retrace back to 95-10 before scaling out more of the position. But don't guess, that's why you always have a stop loss set!

Quote:

Originally Posted by MTG#10

Every stock I've pushed here was right before or right after I bought in except for AMC and GME because I bought into them during my CP hiatus. But I still brought up AMC when it was under $9. I bag-held CCIV and BNGO for a few months then recently was able to make a tiny profit on both and got out but recently got back into BNGO. I lost about $1k on ZOM, no problem admitting that but I wasn't the one pimping it here.

Its obvious you didn't look at the 3 month FUBO chart before you added that to your list, I brought than one up too on 4/8 and its up 65% since then.

FUBO has been good recently, but as predicated, we have many who bought near 50 and are still down quite a bit. Glad you got out of CCIV and BNGO once they rebounded slightly. Neither has shown much breakout potential again yet although BNGO is getting there if it can maintain 7.50+ for a while.

I just want people to be honest with themselves about getting into stocks and "guessing" without a plan. Don't be a bag holder!

06-27-2016, 11:23 AM
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $1986899	Investing megathread extravaganza A place to talk about investing stuff. Last edited by DaFace; 02-19-2021 at 06:35 PM..
Posts: 51,812

06-25-2021, 01:16 PM	#10293
ReynardMuldrake 2 Legit 2 Colquitt Join Date: Sep 2010 Casino cash: $4465754	It's possible to convert funds in a 401K to a Roth IRA. I did it myself last year. HOWEVER you will take a hit on tax liability for the entire amount. You will want to set aside some money to cover your next tax return.
Posts: 4,695

06-25-2021, 08:04 PM	#10296
Halfcan In Search of a Life Join Date: Aug 2005 Casino cash: $7327995	Progenity- PROG Has been on fire. Up 64% in 3 weeks since I bought a position. More good news on the way.
Posts: 43,200

06-25-2021, 08:37 PM	#10297
lewdog Mod Team Join Date: Sep 2011 Location: Valley of the hot as **** Casino cash: $1861900	All you ****ing assholes always share your trades AFTER you've made big gains!
Posts: 45,587	4 0

06-25-2021, 09:36 PM	#10299
Buehler445 Supporter Join Date: Apr 2007 Location: Scott City KS Casino cash: $2274734	HEY MOTHER****ER I told you about the Deere Play right when I made it. It's the only good thing I've done this year.
Posts: 56,800	2 0

06-26-2021, 07:10 AM	#10300
lewdog Mod Team Join Date: Sep 2011 Location: Valley of the hot as **** Casino cash: $1861900	No one wants to share their trades in real time. Only after they’ve exploded. And I bet we have some CCIV BNGO SNDL FUBO ZOM CRON bag holders….just to name a few. You’ll never admit it though.
Posts: 45,587