OT: Stock and Investment Talk
- Thread starter RU-05
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What gets me is that a lot of local businesses don't tell you of the fee until after your swipe your card.
It started with Chinese food takeout restaurants but it is spreading everywhere.
EXACTLY!!! I kept finding that after doing simple math I was being overcharged by places and many don’t even post it near the register. Not only that, menu prices are meaningless these days because merchants are basically charging whatever they want. No transparency. Got pissed last weekend - couple of pancakes = $8…asked for chocolate chips and they tried to tack on extra $2. Used to be like $0.50 extra.
Currently holding something like $98+ billion in short-term US Treasuries.... This comprises the lion's share of BRK's $130 billion in cash/cash equivalents.
Honestly I do not blame them at all. Where do folks think these 3-5% credit card perks are coming from? At the same time if places just upped charges people would bitch and blame them. I like that they are showing (OR SHOULD BE) that they can pay for their own perks if the card companies aren't funding them.
I just had a nice meal down here in SC and at the bottom of bill it had an additional $2.50 charge on a $75 meal. It clearly stated CC fee and also offered the cash price.
I agree they need to tell you and in fact I thought had to.
my NY Community online saving is paying 4.4% with total liquidity (but yes, not locked in so could go up or down). It has continued increase though.
hell. I flew united two weeks ago and you can't even use plastic on the flight if it hasn't already been loaded onto the app or something like that. But then I think you actually get a 25% discount? ( I don't know cause I didn't do).
ok..don't have CDs though.
Hey, while I have you how come you didn't respond to my question to you last week about energy stocks? You aren't comfy making specific reco's (which I certainly understand if the case).
Oops, sorry I missed that one. I was in energy via XLE in 2021 and did very well. With such a run up on 21 and 22, I assume energy will take a breather in 23. I bet it will bounce around, so if you are looking to trim, wait for a nice pump back up. I currently don't have any oil plays, but since nat gas crashed so hard, I will looking for a trade with UNG or BOIL.
So I opened up a Fidelity account this morning for a Traditional IRA. I called them and got through to someone in less then 2 minutes. Amazing customer service from them! The reason I chose them over opening it with Etrade were I have most of my investments is because people wait hours for Etrade customer service. If it's not a total pain in the a$$ I may try getting everything to Fidelity.
I plan on funding the traditional IRA once I am cleared with them. I think I need to do this as a non deductible fund if I plan on going over the $6500 limit? Once my traditional is funded I will open a Roth and put it in there and pick my investments. Now I gotta research what to put it in. I have a question say I put 10k in my traditional IRA then "backdoor" it into my Roth how will taxes work for that? I already paid tax on the 10k so would I even owe anything?
I concur. MY 401k is with Fidelity and they are great. My E trade investment account is impossible to deal with from a support POV. Live and email. Days to respond.
yeah I missed it a bit and won't touch anything right now. I am still WAY UP The bounce back thing is what I was interested in hearing..
If you put in your full $6500 annual contribution into a non-deductible IRA WITHOUT investing it, you can then convert to a Roth IRA with no tax consequences. So essentially:
1. Cash into non-deductible IRA
2. Transfer cash to Roth IRA
3. Then invest once in the Roth IRA
Have fun! Fidelity is awesome.
Thanks, if I wanted could I put more then the $6500 into a non-deductible IRA?
Contribution limit for IRAs is $6500 per year. You can convert existing IRAs to Roth IRAs as well, but you would have to cover the appropriate taxes.
What To Do when Cash Isn't Accepted
Why some businesses no longer accept cash, and what you can do about it
legal tender is binding for all goods and servicesWhat To Do when Cash Isn't Accepted
Why some businesses no longer accept cash, and what you can do about itwww.aarp.org
I was at a Mets game last year and they are a cashless venue. They have what I’d describe as reverse atm machines. You put in cash and get a debit card in return. I’ve never seen such a thingWhat To Do when Cash Isn't Accepted
Why some businesses no longer accept cash, and what you can do about it
that doesn't mean what you think it means.......
There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise.
yes, it's a binding obligation of the federal government. it does NOT mean it MUST be accepted for any/all transactions.
people assume a lot of things....... scary.
Was finally put into Lyft at 10.50. Sold the 11 calls against
I also keep selling DVN $54 puts. Sold them last week when they were in the money for about 3%. Sold this weeks out of the money for about 1%.
Ex dividend on the 14th. So thats another 2% to consider. Might sell next weeks in the money again.
I also keep selling DVN $54 puts. Sold them last week when they were in the money for about 3%. Sold this weeks out of the money for about 1%.
Ex dividend on the 14th. So thats another 2% to consider. Might sell next weeks in the money again.
closed out 75% of TGT short for a few bucks profit. I thought it was going to swing lower into their earning call. Not really.
I'm going to start a long-hold position in QLD for one of my accounts. I have a modest amount of cash and can use more tech/growth exposure. Didn't buy today, but watching it closely.
This market is dicking around support levels and is looking for a catalyst for a move in either direction.
Earnings won’t be the catalyst.
95% of SP500 companies have reported earnings. 2/3rd have beat EPS expectations. Total earnings decline is -5% YoY.
The market is up 4% on the year. Down 2% during earnings season.
Expect the macro trends to continue to push the market around for the next 90 days: Inflation prints, treasury yields and strength of the dollar.
This remains a single stock picker market for active accounts. Stay nimble because the market can swing up or down pretty quickly. My gut tells me inflation and cost of capital are going to stick it to a plurality of the SP500 earnings next Q.
Earnings won’t be the catalyst.
95% of SP500 companies have reported earnings. 2/3rd have beat EPS expectations. Total earnings decline is -5% YoY.
The market is up 4% on the year. Down 2% during earnings season.
Expect the macro trends to continue to push the market around for the next 90 days: Inflation prints, treasury yields and strength of the dollar.
This remains a single stock picker market for active accounts. Stay nimble because the market can swing up or down pretty quickly. My gut tells me inflation and cost of capital are going to stick it to a plurality of the SP500 earnings next Q.
Would you hold off on buying SPY or the equivalent currently? If it's money I don't plan to need for years, is there any reason not to buy some now, or wait for a lower entry point?
Do I think we are more likely to see some lower lows than we are to see some higher highs over the next 1-2Qs? sure...
but, never try to time the market....
Dollar Cost Average... always DCA...
you don't have to dump all you have in today.....
but, pick an amount (percent like 1%, 5%, 10% or dollar amount $100, $1000, $10000, etc..)... and pick a time (every week, twice a month, once a month, once a quarter)... and pick a day and just stick to it... be diligent... and DCA and get into the market............ in the long run, it'll be fine... tho there WILL be some pain along the way...
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I think the market is on a seesaw right now. Honestly, I would feel better buying at 4100 than at 3975, because a rise to 4100 from here would disprove the thought that many institutional investors believe we are headed to last October lows.
Park your money into a 4% money market and wait for the next move.
Most people do that with their 401K.
I don’t think there is any honor in buying $10K of SPY today and then seeing it turn to $9K in April.
I do think it is a stock picker’s market, though.
if you're a stock picker..
most aren't.
there's just as much risk assuming you know when the "next move" is...
if $10k is "a lot" to you, then sure... that's not the DCA amount you should be using..
we all know the story... missing the big moves can really hurt in the LONG run..
I graduated RU in 1994 and worked as a buy side equity trader from 1994-2008 and have been in wealth management since.
Whenever things don’t make much sense to me I go to less than 50% long. I luckily did it in 2000 and 2006 and I did it again at the start of this month. I missed the top and the bottom the last two times but still reentered the market at a much lower price than where I exited. I wish that I legged out a year ago but FOMO ….
To each their own.
Whenever things don’t make much sense to me I go to less than 50% long. I luckily did it in 2000 and 2006 and I did it again at the start of this month. I missed the top and the bottom the last two times but still reentered the market at a much lower price than where I exited. I wish that I legged out a year ago but FOMO ….
To each their own.
Two stocks that i was put into and am now down 10ish% look like they might be in a good spot technically
STNE is the epitome of trading within a range over the last year and is currently near the low end of that range.
And PLTR looks to be developing a reverse head and shoulders.
Sold more puts on each so perhaps dca’ing lower.
STNE is the epitome of trading within a range over the last year and is currently near the low end of that range.
And PLTR looks to be developing a reverse head and shoulders.
Sold more puts on each so perhaps dca’ing lower.
Next jobs report is 3/10 and CPI is 3/14. Those will be your next catalysts - whether positive or negative. Until then, the market will likely just slowly meander.
Bingo - most people are not stock pickers nor have the time to become one. I mostly stick with funds and ETFs. If I feel strongly about a move, I will use a leveraged ETF to maximize returns. No need to stock pick unless you are a trader.
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