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MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 16
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March 23rd, 2020 at 10:52:53 AM permalink
I can't believe BAC is now below 19. I have held THOUSANDS of shares of that for, going on ten years or so now. Below 19 - that seems oversold to me.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
Suited89
Suited89
Joined: Dec 23, 2019
  • Threads: 2
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March 23rd, 2020 at 11:57:46 AM permalink
INN @ 3.15
DRH @ 3.55
RLJ @ 4.66
WY @ 16.95

Gettin beat on WY...showing 13.50 ish. The others are offsetting.

ATT gone at 26.75
F is going at the close today (the original buy at 7.72, the cover at 4.35 remains.

O was sold at 82.15 and OHI at 44.55 a month ago. These two were long-term holdings ( O @ 44.5 and OHI @ 24.50). They were sold to provide $$$ for what I'm doing now.

The partial sale of F and sell-out of T is $$$ for future.

If in 18 - 24 months INN,DRH, and RLJ are double, and bringing back divi, I done good. WY and F (remainder) I hope will resume divi and get 50% cap gain.

The only other stock worth mention is IRM (paper shred/recycling for business) that I'll stand pat for now, though off 30%. I might add, but not cover.

Regards
Suited89
some people need to reimagine their thinking
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 16
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March 23rd, 2020 at 12:02:36 PM permalink
INN @ 3.15
DRH @ 3.55
RLJ @ 4.66
WY @ 16.95

Gotchya.


On some of these others such as F and IRM you use the term "cover" does that mean you are short on some?
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
Suited89
Suited89
Joined: Dec 23, 2019
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March 23rd, 2020 at 12:15:34 PM permalink
cover/exchange is not shorting. You buy the depressed stock first, then sell your original portion later. The 1040 says you can mark the buy and sell.

Example: I own 1000 Ford at $7. It drops to $4. I buy 1800 Ford at $4. Anytime later, I can sell the $7 Ford portion taking a loss. Once I sell ANY Ford stock, the 30 day wash-rule goes into effect. Some would say I'm stuck with the $4 Ford for that 30 days.
some people need to reimagine their thinking
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 16
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March 23rd, 2020 at 12:57:19 PM permalink
I know all those rules. I actually have a Series 65 license.

But the term cover is not used for what you describe.

In any case, gotchya, you are long only, no shorts.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 16
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March 23rd, 2020 at 1:03:27 PM permalink
Market closed, wasn't as bad as it could have been. Over all, in the green with AMZN especially and TSLA also helping in that regards, minus the drag down from AAPL and BAC. Rest of the stocks I own were red, but not enough to wreck the day. Anyway, total account value was GREEN for the day.

No trading today.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
MDawg
MDawg
Joined: Sep 27, 2018
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March 24th, 2020 at 9:06:31 AM permalink
UP day, I tend not to trade on days like this just watch my long terms go up. Lately I am more of a buy the dip for trades on down days trader.

Another way to do it is to short the pop on a given stock, and a lot of traders have done extremely well with that lately, but for me to do that I'd have to go short against the box (of my long terms) and that seems contradictory - like betting red and black at the same time on the roulette wheel.

CMG and AMZN are going up and down though, there are trading opportunities there just have to hit it right.

Looks like NFLX is down today, at least at the moment. That is about the only long term hold of mine that is not green today.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
Suited89
Suited89
Joined: Dec 23, 2019
  • Threads: 2
  • Posts: 93
March 24th, 2020 at 10:35:24 AM permalink
Dawg...
I fat-fingered the DRH price its 3.45 not 3.55.
Also checked with broker (yes I use one) about wash-rule given the 29-day month in Feb and 30th day falling on Sat. He recommended any buy-backs at the close Monday to be sure the 'trading day' had cleared. So I rebought OHI 4500 @ 22.24 at close. The other news is that Ford was sold off (original shares marked) at 4.01 for a sizeable loss against the gains. Looks like I freed up 85K, and sitting on 190K cash. Still a few rounds of ammo left JIC. I should have enough to pay taxes next April ;o)

And today the market goes POP!, well today, anyway. The bear may be washing his paws.

Regards
Suited89
some people need to reimagine their thinking
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 16
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March 24th, 2020 at 11:05:08 AM permalink
Took a stab at AMZN at 1911. I am down on that trade now. Entered sell at 1913.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 16
  • Posts: 1242
March 24th, 2020 at 11:24:02 AM permalink
FILLED @ 1913. $2000. booked.

It was looking pretty iffy, dropped as low as 1900 and I was going to average in but I didn't. Anyway, it worked out.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.

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