Economy stonks v21

[nostradumbass]

That is one worry of mine, not because of the CCP, I see that as a positive because China needs EVs and obviously wants a Chinese company to compete with Tesla. The big issue for me is the trade war with USA. America has delisted other Chinese companies from the stock exchanges so that is always a potential risk. They really fucked over Huawei as they were Apple's biggest competitor and it's possible they could do something similar to aid Tesla in their competition against the Chinese EV companies. These worries and huge competition in the industry aside, I still think NIO is going to be a hugely successful company. They're growing much faster than Tesla did in it's growth phase, I think the path is easier when it's been done already. I think they will achieve profitability in 2023 and the stock price is going to be a lot higher than it is now.

Nio day is December 18, so I'll probably load up on calls that week because that usually pumps up the price for a few days.

 

[tenniswhiz]

Chinese stocks make some people nervous because you never know when the CCP is going to pull some shenanigans. I made a little bit of money on NIO, Xpeng and Li earlier this year, but they've had some serious slumps and I've gotten hosed several times on BABA.

A lot of “experts” think LI is the best long term bet of the 3.
It’s doing pretty well, especially today!

 

[brackis1]

1. "Expected to". The same way having your bank report every $600 transaction is "expected to" go after billionaires.

Pulling random tiny nmbers out of your ass why exactly? This is not a real argument.

I just about 6 figures in taxes this year and not crying nor concerned this legislation would affect me. You earnings a bunch more than that and somehow think your assets are at risk?

I feel like every conservative is loading up with excuses for why it's gonna be evil Bidens fault that a retard spec market eventually crashes or results in some sensible policy to address the evil robber barrons ya'll seem to love who have been dodging and taking out ridiculous deductible loans.

 

[nostradumbass]

A lot of “experts” think LI is the best long term bet of the 3.
It’s doing pretty well, especially today!

I played all of them for a few weeks in January then sold them for GME when it was at $70. Turned out well because I sold GME for $330 and Li tanked like 40% in the next several weeks. EVs are like cryptos where they have spike seasons but can also drop and stay down for a while. TSLA is the bitcoin, NIO is the ethereum, and the others jump up and down depending on the week.

 

[nostradumbass]

Pulling random tiny nmbers out of your ass why exactly? This is not a real argument.

I just about 6 figures in taxes this year and not crying nor concerned this legislation would affect me. You earnings a bunch more than that and somehow think your assets are at risk?

I feel like every conservative is loading up with excuses for why it's gonna be evil Bidens fault that a retard spec market eventually crashes or results in some sensible policy to address the evil robber barrons ya'll seem to love who have been dodging and taking out ridiculous deductible loans.

https://news.yahoo.com/irs-track-bank-transactions-over-140000522.html

The Biden administration has made clear its plan to beef up IRS auditing by expanding the agency’s funding and power. Biden’s latest proposal would require banks to turn over to the Internal Revenue Service bank account information for all accounts holding more than $600.

 

[Wadtucket]

Oh no, @brackis1 is back on adderall and is soying out left and right about Tesla while sucking off the Yellen-Biden cabal

 

[Sketch]

I'm beating the average despite having 25% of my portfolio short against the market for the last 5% lol

If what you're saying is true in here about your money (I don't doubt you) this is easier said than done for the majority of people. If you've got money to play with in your case, these daily trades can be extremely profitable, and even fun. For the average guy, the basic ETF approach with the S&P500 is the route to go, generally speaking. I'm just the average guy with decent savings and I just use ETF's for this reason, I'm up 23 percent for doing absolutely nothing this year. And it's overwhelmingly safe historically speaking. I can definitely see the appeal in the day trading though, and making the calls sometimes. I made some money off AMC and got in early for example.

 

[wlu.29]

1. "Expected to". The same way having your bank report every $600 transaction is "expected to" go after billionaires.

2. What do you think is going to happen to your stocks when the people who actually move them liquidate positions for taxes?

Wahh, the sky is falling

 

[brackis1]

If what you're saying is true in here about your money (I don't doubt you) this is easier said than done for the majority of people. If you've got money to play with in your case, these daily trades can be extremely profitable, and even fun. For the average guy, the basic ETF approach with the S&P500 is the route to go, generally speaking. I'm just the average guy with decent savings and I just use ETF's for this reason, I'm up 23 percent for doing absolutely nothing this year. And it's overwhelmingly safe historically speaking. I can definitely see the appeal in the day trading though, and making the calls sometimes. I made some money off AMC and got in early for example.

Definitely agree it's not for everyone and I'm statistically outpacing. It's more than "fun". I put in 10 hrs a day watching markets and take a trader designation that allows me to deduct a schedule C self employed person with biz expenses. I have to be bankrolling enough to make that marginal return worthwhile.
For me it's not that I'm beating it by a ton, but that my methods of sniping things up and down can allow me to make money in future years as the market saturates and indexes naturally can't return the same amount.
I'm using it for living expenses not just to increase my retirement.
I think others can still benefit from trading threads to judge good entry and exit points for stonks and swing trades, but I definitely notice my performance drops off when I "wing it", travel etc... for the day rather than jockeying my desk watching news feeds and judging how stocks are performing relative to intraday index or sector moves.

 

[brackis1]

https://news.yahoo.com/irs-track-bank-transactions-over-140000522.html

And how many dollars in tax will this cause you to pay?

 

[brackis1]

Oh no, @brackis1 is back on adderall and is soying out left and right about Tesla while sucking off the Yellen-Biden cabal

No addies for me; though I did grab a fill of some small 5mg IRs since I'll be doing about 2000 miles of driving in November.
Tesla made me money today; I am happy.

 

[nostradumbass]

If what you're saying is true in here about your money (I don't doubt you) this is easier said than done for the majority of people. If you've got money to play with in your case, these daily trades can be extremely profitable, and even fun. For the average guy, the basic ETF approach with the S&P500 is the route to go, generally speaking. I'm just the average guy with decent savings and I just use ETF's for this reason, I'm up 23 percent for doing absolutely nothing this year. And it's overwhelmingly safe historically speaking. I can definitely see the appeal in the day trading though, and making the calls sometimes. I made some money off AMC and got in early for example.

It takes a while to get pretty good at it. ETFs are probably the way to go if you're older than 35 and have a decent amount of money, but young people investing just a few thousand would probably be better off doing some homework and finding things that'll get better returns than the general market. 5-20%/year is great if you're investing a million bucks, not so great if you're only playing with a few thousand.

The money glitch for the last year and a half has been to wait for SPY to drop 2%, then throw a bunch of money at calls a few days out, but avoid March and September entirely.

And how many dollars in tax will this cause you to pay?

My income isn't a set amount, so I won't know until next year. It'll be at least the cost of a new car.

 

[BIKES!]

https://news.yahoo.com/irs-track-bank-transactions-over-140000522.html

This is probably the most insane and poorly conceived tax related idea in history. Anyone that isn't adamantly opposed against this has an IQ of 50 or less and zero financial acumen.

Ignoring the obvious issue of securing the data, just imagine the tracking and documentation that would be required of every individual to protect themselves against audits. Just think... the IRS could come knocking at your door wondering about some $5K cash deposits three years prior. Imagine you are a fantasy football commissioner of a 12 person league with a $400 per person entry. This is basically an excuse to always justify a deeper audit against anyone at any time. $600 is a comically low amount, but the privacy is a bigger issue.

This shit reminds me of when I was playing the automated roulette video wheel at the Wynn and deposited around $1000 then cashed out $1210 after an hour of playing only to have the alarm go off and get handed a W2. I argued with the miserable whore of the late night casino boss and ultimately lost. Two years later I was audited because of the W2 I didn't enter and had to later amend the return and offset against losses.

 

[MoparOrNoCar]

This is probably the most insane and poorly conceived tax related idea in history. Anyone that isn't adamantly opposed against this has an IQ of 50 or less and zero financial acumen.

Ignoring the obvious issue of securing the data, just imagine the tracking and documentation that would be required of every individual to protect themselves against audits. Just think... the IRS could come knocking at your door wondering about some $5K cash deposits three years prior. Imagine you are a fantasy football commissioner of a 12 person league with a $400 per person entry. This is basically an excuse to always justify a deeper audit against anyone at any time. $600 is a comically low amount, but the privacy is a bigger issue.

This shit reminds me of when I was playing the automated roulette video wheel at the Wynn and deposited around $1000 then cashed out $1210 after an hour of playing only to have the alarm go off and get handed a W2. I argued with the miserable whore of the late night casino boss and ultimately lost. Two years later I was audited because of the W2 I didn't enter and had to later amend the return and offset against losses.

But they said it's to make sure the rich pay their fair share.

 

[nostradumbass]

This is probably the most insane and poorly conceived tax related idea in history. Anyone that isn't adamantly opposed against this has an IQ of 50 or less and zero financial acumen.

Ignoring the obvious issue of securing the data, just imagine the tracking and documentation that would be required of every individual to protect themselves against audits. Just think... the IRS could come knocking at your door wondering about some $5K cash deposits three years prior. Imagine you are a fantasy football commissioner of a 12 person league with a $400 per person entry. This is basically an excuse to always justify a deeper audit against anyone at any time. $600 is a comically low amount, but the privacy is a bigger issue.

This shit reminds me of when I was playing the automated roulette video wheel at the Wynn and deposited around $1000 then cashed out $1210 after an hour of playing only to have the alarm go off and get handed a W2. I argued with the miserable whore of the late night casino boss and ultimately lost. Two years later I was audited because of the W2 I didn't enter and had to later amend the return and offset against losses.

Yeah but we have to audit every bank account with $600 to make sure billionaires pay their "fair share". No more of those billionaires making more than 4,566 deposits of $600 every single day for a year to escape taxes.

 

[brackis1]

Yeah but we have to audit every bank account with $600 to make sure billionaires pay their "fair share". No more of those billionaires making more than 4,566 deposits of $600 every single day for a year to escape taxes.

so cliffs:
-You're crying about taxes unrelated to this because you have to pay money? I paid for more than a new car this year and am not upset. Lovely world where I can make money being part of the rentier class pushing buttons while others do real work for far less income; why so mad?
-You're misrepresenting having mandated reports/filings as "audits". Are all 1099-Misc forms audits too? lol

 

[nostradumbass]

so cliffs:
-You're crying about taxes unrelated to this because you have to pay money? I paid for more than a new car this year and am not upset. Lovely world where I can make money being part of the rentier class pushing buttons while others do real work for far less income; why so mad?
-You're misrepresenting having mandated reports/filings as "audits". Are all 1099-Misc forms audits too? lol

I paid more than a new car too. What I said is that the difference is likely more than another new car.

What kind of goddamn idiot wants to pay more in taxes than they get back in services?

 

[BIKES!]

so cliffs:
-You're crying about taxes unrelated to this because you have to pay money? I paid for more than a new car this year and am not upset. Lovely world where I can make money being part of the rentier class pushing buttons while others do real work for far less income; why so mad?
-You're misrepresenting having mandated reports/filings as "audits". Are all 1099-Misc forms audits too? lol

Commercial fisherman should pay taxes, those fucks are cleaning out the ocean. My coke dealer shouldn’t have to justify his $1,200 Venmo. #facts

 

[brackis1]

Commercial fisherman should pay taxes, those fucks are cleaning out the ocean. My coke dealer shouldn’t have to justify his $1,200 Venmo. #facts

You realize there are existing laws that require Venmo and Paypal to report all accounts that meet certain transaction thresholds already right? It's the exact same premise.
You're far more likely to uncover coke laundering schemes with these new rules than be forcing a random fisherman into bankruptcy via "audit"

 

[brackis1]

I paid more than a new car too. What I said is that the difference is likely more than another new car.

What kind of goddamn idiot wants to pay more in taxes than they get back in services?

Based on what threshold of tax increase?
This is about bleeding out mega-rich evaders hiding behind stock-based compensation acting as loan collateral.