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DOMR, which had been green, back down today. Maybe at a bargain price again? Ha ha ha!
Ugh, that is my punishment for not having set a limit order (greedy or otherwise) to exit completely or at least reduce my position. Now there is a big unrealized red number staring at me today. (Oh, well, at least it will be gone tomorrow.)
Always take profits. That is why I sold some INKW today. And ADSV. House money remains on the table.
I can appreciate the selling into the rally. Did some myself so I can be playing with house money again. Have not been able to say that since 2019. Indeed you have to go back two years to see when last we were at these levels. We are in rarefied air right now.
I think the news is better than whatever pumped it over 4 cents back in early 2019, so, if it is for real, I would expect new highs. I would like to see INKW go over 3 and half cents before even thinking about taking any more off the table. Does not look like it is happening today. Maybe tomorrow.
Apparently was a Reddit front page short squeeze. They squeezed the GME shorts just for the heck of it. So now I have to have to pay attention to Reddit?!? Fabulous. Hmm, wonder what the option situation is...
Hmm, I sold 51's and 52's today. That's not very good spacing. Oh, well, got my buy low and sell high orders in for the next swing.
You throwing out 0.017 makes me nostalgic. The first time I sold enough to be playing with house money, that was the price. That was back at the end of March 2019. Long time waiting, ocassionally averaging in since then. Was finally able to see green again with Greene. Hoo-ray!
Congrats to those riding the demo day pop. Do we get a drop tomorrow? (The second half of Buy on the Rumor, Sell on the Fact.)
I want to say today was a little more par for the course, with the big up open followed by a look-out-below decline, but just to mix things up, we came right back and added a decent amount to Friday's huge move.
Par for the course... ha! If par for the course is a 10 point swing. If it does that again, I may have to sell another cash covered put.
On the MJ/CBD front, not only did BNGI follow up a big day with another, but INKW and PMPG had big double digit green. Those are all ones I picked up in my first couple months of reading these boards. INKW I have bought and sold over that time, including today (and thanks to averaging down, that was a nice double). PMPG turned out to be the big winner, percentage-wise. Last time I took some profits was when it hit twenty-bagger status. And it is near that again.
Hey, this is not supposed to steadily climb! It is supposed to pop in the morning and then slide the rest of day. No fair changing the routine. I guess all bets were off for Friday. Live and learn.
Congrats to steady hands.
Things are getting crazy with these stinky pinkies. DOMR (which could have stood for dormant for the last year or so) making a big move today following yesterday's sign of life. I should have had a crazy limit order in--oops!
ADSV, one of my other earliest iHub Hot Board picks, also up big today.
Looks like every dog will have its day in 2021. A number of tickers (which I won’t name here) that were MJ/CBD plays and were looking like perennial losers have come back to double, triple, or even make runs at a penny. (OK, some have come back as COVID plays, but you get the idea.)
As for BNGI, best day since the news about Beyoncé’s dad first hit in July 2019. Think we briefly saw 0.0006 that time. Wonder if there will be resistance at that price or at 0.0008, which I think was the peak before that. How many people averaged down over the last year and a half and have been selling their 1’s for 2 and their 2’s and 3’s for 3 or 4? Remember spending all of 2020 being nostalgic for endless 3’s? Blowing right past those to get to 5’s today even surprised me. A happy surprise; happy to be playing with the house’s money again.
Thanks for reminding me how close I was to cashing a double with MVNT just a couple months ago when it got to 4 cents. Missed it by that much!
: - )
It came all the way back down to my original price; almost picked up some more.
Meanwhile some of our long term holds that I nearly wrote off have been on fire lately, Gare. Not sure if you were ever in CWNR, but that took off again. Even DOMR green today (followed by big red) and back green again. Problem is liquidity there. Last trade was a partial fill.
MJ and forme MJ plays been rising from the grave, like MJTV and BNGI. And for some reason I was in VIBI. It is finally turning green (thanks to dollar cost averaging).
Able to trade from desktop today and yesterday with Uphold without much problem, except now I have a Polkadot account #3, even though I have no DOT in a #1 or #2 account. Oh, well. They are only a crypto trading company on the internet, why expect all the technical stuff to work and make sense all the time?
I have been picking up coins new and old on dips: DOT*, DGB, SOL*, OMG, and even some XLM (Thanks again, Cred, for cleaning me out.) I should probably pace myself. Be patient with them all, not just XRP. Waiting for XRP to dip more before we get over the drama that is chasing retail out. Also looking for another dip in Ox (ZRX) and COMP*
*these are new to Uphold
Oops, forgot to keep averaging into this one. Up 60% today is not enough. Not nearly. Guessing a lot of long holds agree.
Nice two dollar run to open the year. If there is a better 5 to 10 dollar stock out there I would like to know about it. And you can trade options on it, too.
PS Agree that the page needs to be refreshed. With all due respect to the dearly departed. And what is the relevance of the Sarepta quote on top? Aside from pointing out that you should have cashed out of SRPT two weeks ago and put it all in CAPR, baby!
We opened at 58? Son of a bleep! I would have taken that for my 34’s, maybe even my 39’s.
But not my 40’s! ; - )
Gooooo Hawk!
Woke up this morning to email from broker saying I sold some GCAN yesterday at at penny. Nice. (That is why we set crazy prices in our GTC orders.) I see it was only at that level for less than an hour. And now it is at a 38% discount from there. Hmm...
And now the battle between FUD and enthusiasm ensues. I am not a chartist, but I would think claims of P&D would prove true if this retraces all the way to 0.0035, while if it bounces off of 0.0047... well, then... I suppose either might qualify as a higher low, but only the latter would be one to write home about.
Was going to say not buying any more XRP until it is passed by Polkadot, Cardano, Litecoin, Bitcoin Cash, and Chianlink.
One down, four to go.
(I will be damned if we get passed by Stellar.)
Is custody asset different than supported asset? Because XRP is not listed there. Goes from AAVE to ZRX. No XRP between Wrapped Zcash and Yearn. Not listed under R, either.
Disappointed to see Grayscale dissolve their XRP trust. That was going to be their next one. Guess this is the week the men are separated from the boys.
I am humbled by all the support, but just to be clear--and my apologies if I was not--nobody cursed me, except myself and I was just joking about selling "too soon" by only taking a 1000% gain when a 2000% gain was just days away.
Congrats to those who hold strong and are rewarded. As well as to those who snagged on dips and believe those shares will prove to be cheapies. GLTYA (including myself, as I still hold nearly half my original stake).
It has been interesting so far this season seeing a number of long term holds suddenly come to life. Had the same thing happen with NLST; waited over a year for it to get high enough for me to sell some, profit, and keep enough to make it worth it just in case things were just getting started. Heck, even IDGC has risen from the usual 0.0001 - 0.0002 range, again a slow double that then turns into a quick quadruple (if you have the extra patience to hold out for more).
Curse me for selling half for a ten-bagger when it was going to be a twenty-bagger 4 days later. Oh, well, what are going to do? Not take profits once in a while?
Congrats to all holding strong. Where to next?
Probably exactly the wrong time to sell now, what with it breaking above where it has been teasing us for the last six months, but after waiting fifteen months altogether, I took some off the table today. We were oh, so close in July last year, so close to that sweet spot where you can book a profit overall AND be playing with house money; I was not going to wait any longer.
I used to sell half when something doubled, but this is better. Sell when you are up 150%, then you have real gains booked, not just paper gains with your "free shares"
So what's the "rule" when these pennies get to almost a dollar? I know the rule is "if it gets to 19, it is going to 20", so don't bother setting your exit with a 19 handle, but not sure if 90 cents means we are dollar-bound (technically speaking, not fundamentally, of course).
That happened today for me with NIHK. Doubled today, making it a ten-bagger from when I got it December 2019. Had a "crazy GTC" sell order in, just in case, so unloaded half my holdings.
Been waiting for a while longer for XRP to make a similar move, but I know it ain't the same thing. Wish I had loaded more at 17 cents. Dips below 29 cents might be tempting.
What is my average anyway? Surely not as high as 32.3 cents, ouch!
I see gumzsa was here back then. What about Golden Gross and MONEYBAGSCLAY? Still here?
Why was it hot back then? Super 8K or something like that. Now what?
Took 13 months to turn into a ten-bagger, but we made it. Sweet. Took half off today, so playing with house money now. "Next!"
(Seriously, who's next? NetList? NetCapital? Movement? IDGC? I got my crazy high limit orders in, so bring it!)
: - )
Yes, a little more than 1 to 1, the ratio should be 1:1.0073.
Check ceaa's post #21564. Nearly five minutes into the video (YouTube) from crypto Eri (lady from Japan), she gets to the bottom line.
So, yes, you should have a little more Spark than XRP (if you have not done any trading since December 12).
Yep, got more than I expected for them. So I had to sell another loser to balance the year-end books.
: - )
A good sign if Grayscale is forging ahead, I would think. (Or maybe it is just physics: things in motion tend to stay in motion.). Adding XRP to a stable of horses that includes two Bitcoins, two Ethers, and Litecoin.
Happy New Year! Even though tomorrow we will still have all the same problems we had today (except I won’t be scrambling to harvest tax losses), I wish everyone well with their resolutions. Pick a good one and...
Stay strong. Stay resolute.
You might see a tax loss booked today. Anybody want to take some off my hands for four cents?
: - )
Would you look at that: a freaking 20-bagger from one of my very first pinkies! Go figure. And I only had to wait the better part of 2 years. Better yet, I still have some shares. Hooray!
Now do we really think it can do it again from here? For the pinkies that break a penny, 1.4 cents seems to be a resistance point, but for the ones that break a dime, I am practically in uncharted waters here. What to do...?
Third quarter report was November 12 after hours. That was a Thursday. So if the next quarterly report comes 3 months later, that should be February 11. I figure you have another 6 and half weeks of buying and selling whatever rumors and facts and news might tickle your fancy between now and then.
Dropped to 17 cents and I missed it? Dang it! That is lower than all my purchases this year, even when I bought on April 1 in the depths of the pandemic crash that brought nearly all assets down.
But I should hold out for less according to some of the price predictions here. Or is that just the F in FUD talking?
I am glad the billionaires being sued are fighting back. I won't hold my breath, because they might make a "business decision" at any moment and betray the notion that they might be activists (if only by accident). Are they really willing to go the distance? I would, but that is an easy call for me, because what is at stake would be a matter of principle.
(Not to mention all of my principal.) : - )
Ha ha ha! OK, gotcha: T M I
Or maybe you’d rather that Clay have the last say of the day.
: - )
Just talking to myself, saying time is running out on the year, clever boy. Might be one last PLTR trade to be made during the thin trading season, but don’t push it.
Took advantage of green open to sell call in the first minute of the day. Only missed the high of the day by a couple cents and now it is down to less than half my price. Don't want to say this ticker is getting predictable, but so far selling options has provided a steady stream of cash flow. The deep drops can be worrisome, but if this slides more, I will sell another cash covered put. That strategy has been working pretty well, too. Only been assigned once, and I don't mind having more shares of this one. Now only one outstanding option left for 2020, then we are done with balancing losers with gainers for tax purposes.
XLM was also down quite a bit yesterday. Bounced strong today.
Holidays can be quite volatile for some assets. I have only been paying attention to crypto charts for a couple of years, but that rule seems to apply to this sector* as much as any. If I were a market timer/trader of crypto, I would definitely have sold some of this on the way up (heck, I was still awake when it got to 90 cents), even before the Spark drop, and some more right after the snapshot was taken. But I have had my hands tied a bit by some poor choices, namely as to where I put the coins after I bought them. Thanks for nothing, Mr. Schatt! (Oddly enough, after Cred has its fire sale next month, that same rookie mistake will free me up a bit next year, and perhaps for all my remaining years of trading. Heck, I might day trade this stuff—and not give a dang about wash sales ever again!)
*what sector this is, I don’t know. The government does not seem to know, so how should I?
Actually I harvested some gains earlier this month. Sometimes you want gains, so that you can finally clear some long held losses off the books. If I had it to do all over again, I would have done that sooner, so that I could have been done with the 30-day Wash Rule waiting period and be able to get back in at these holiday gift prices. Not really expecting much for the rest of the year: just a half day, three more full trading days and another half.
In other words, it’s that time of the year, folks. You can’t fight it. Do they still make G.I. Joe with the kung-fu grip? (You veterans get that movie reference.)
Wow, I am a surprised you came back so quickly, MS. Thought you were going to wait until the Humbug crypto season passed, maybe wait 30 days so that it would not be a wash sale. As it is, I would think that it would be a wash sale, so you may not have anything to declare, except that you have to factor in the reduction of your cost basis for when do you eventually sell, but...
Obviously consult your own tax advisor or software or whatever. You have a few months to figure it out.
Me, I am allergic to wash sales in taxable accounts, although I may have one with Palantir tomorrow, and if not tomorrow, maybe New Year’s Eve. We shall see. Me and my cash covered puts, and covered calls. Trying to get 5% out of one stock every week (versus 5% every six months with Cred; what a “reward not worth the risk” fool I was!). Sorry about ticker name dropping. G-man did it, so...
: - )
With all due respect, government always a threat. The US government has always been and will continue to be a threat to US crypto holders, and US crypto exchanges, and US crypto companies. Not to mention a threat to those outside the US, because our domestic policy IS our foreign policy.
Just look at how the US Gov's Drug War has ruined the lives of millions who have never been to the US. We export our cr*p. We are too big a country to keep our cr*p within our borders; that sh*t oozes out and gets all over everything.
I am not entirely sure that the big money to be made in crypto is still in the future. We say we want regulatory clarity, but do we really? I was promised an SEC ruling on bitcoin (for derivatives or mutual funds or something like that) two years ago. It was a hard deadline on some bureaucracy's calendar. I don't think it ever happened. And did that hurt Bitcoin? Nope. Up 500%-600% since then. Not to mention all the gains to be made before that.
There is a rule in trading: Buy on the rumor; sell on the fact. We are still buying, because we are still in the rumor phase, but, frankly, I don't know if you are going to want to be holding once we get hard facts, bureaucratic decisions, "regulatory clarity," blah, blah, blah.
I have no plans of checking either the Yes or No box on the top of next year's 1040, if indeed that form has a question about virtual currency. It won't even be an act of civil disobedience. It will be me saying, "I don't know. You guys don't know what it is. How the heck should I know what it is?"
I do not understand your reasoning here, MS. And you have been my guru on this for the last 20 months.
Indeed I should have followed you more closely, that is, I should have followed you to Nexo (if only because doing so would have got me completely out of Cred). But there is no point in my following you here.
Why would they say it is a security? They are saying it is not a security. That is their case. They are saying early buyers of XRP thought they were buying a piece of a company, Ripple, and thus they were tricked into buying something that is not a security. Is that not their case? If US arbitrarily rules that a crypto currency is something else, say a security, and that harms us, we should be able to sue the US in a class action.
Hmm, this seems to be the wrong board... Go LBA!?!
Good news is XRP is not a security. That is the case the SEC is making, is it not? Holders of XRP do not hold any stake in Ripple, Inc.*
Bad news? Maybe Ripple will have to sell XRP to raise money to pay the fine. Unless they had the good sense to sell when this was between 60 and 90 cents. Ha ha ha! (Kind of wish I did, but in for the long haul. And Cred has too much of my XRP. Selling “half” when it was double my average would have left me with no XRP. In other words, investing with the wrong PayPayl Alum is the “gift that keeps giving”—without any end in sigh, apparently. [Sigh...])
*Come to think of it, Uphold has as one of its third party apps Linqto, which supposedly can let you invest in private companies, with one of their examples notably being Ripple. Wonder if the price of that is down as much as XRP. Can you say blood in the streets? I knew that you could.
How long before a Chapter 11 bankruptcy finalizes? With only a couple of weeks left in 2020, I have been assuming that happens next year. So no tax impact to figure out by April.
Unfortunately this will be a capital loss that greatly exceeds $3000 and will be carried forward for many years, even if we get back 50 cents on the dollar. (Twenty cents seems more likely and I am afraid it will be closer to 4.) I have been researching alternatives, but that will probably be how I have to take it. Of course, if one of the many DA’s trying to nail Trump would turn their attention to Cred and file some kind of fraud charges, then, even if they do not pan out with a conviction, the loss could probably be counted as a Ponzi scheme loss and taken like people could do in 2009, whether they had been suckered by Mr. Madoff or somebody else. Actually, I do not want to take it all in one year either; spreading it out over maybe five years would be ideal, but I doubt I have that choice.
So, the tax benefit would be that I can turn my attention back from my IRA’s to making money in a taxable account and not worry about short term versus long term gains (maybe even relax a little about wash sales), as, for the foreseeable future, my Schedule D will be putting a -3000 on line 13 of my 1040, with the rest of the red ink carrying on and on and on — into a future that will eventually be bright with XRP.
Only problem is, now the pressure is on to only have gains, never add to the losses. Might be able to pull that off if I can stay away from oil and gas investments right before some innovation like fracking undercuts the business. And avoid liars standing next to a hole in the ground (i.e., gold miners).