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Stocks...FINALLY timed it right!

Discussion in 'Other Off Topic Forum' started by need4speed, Apr 8, 2004.

  1. need4speed

    need4speed Formula 3

    Nov 3, 2003
    1,597
    Pacific Palisades
    After all the "woulda, coulda, shoulda", I finally timed a couple right.

    Yesterday "HIET" and "PHSL" popped and I was able to get my investment out and ride on free shares. They both doubled my purchase price. It sure feels good for a change.
     
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  3. coachi

    coachi Formula 3

    May 1, 2002
    2,108
    SC USA
    the key is, at the end of the year, do you claim a $3000 decution on your income tax, or pay uncle sam. If it is the latter then you are oneof the fortunate 5% who make money in the market. The rest of us are in the 95% that lose money. Wait till next year
     
  4. need4speed

    need4speed Formula 3

    Nov 3, 2003
    1,597
    Pacific Palisades
    I might already qualify for the $3K if another one of my stocks doesn't pick itself up.

    GLTA
     
  5. Forza1

    Forza1 Formula Junior

    Mar 20, 2004
    486
    California

    Could someone elaborate on this for me?



    -DC
     
  6. Ashman

    Ashman Two Time F1 World Champ
    Silver Subscribed Owner

    Sep 5, 2002
    28,483
    MA
    Full Name:
    John
    $3,000 is the maximum investment loss that you can claim each year against your ordinary income on your tax return. You can carry forward losses and use them up at $3K/year, not sure if they expire though.

    John
     
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  8. LA Swede

    LA Swede Formula Junior

    Dec 5, 2003
    369
    SoCal
    while NOL's can be carried forward a maximum (after what I recall) 20 years, realized personal losses do not expire, but are as you say, limited to a $3K deduction per year.

     
  9. Forza1

    Forza1 Formula Junior

    Mar 20, 2004
    486
    California
    Hmm, any limitations to the type of "investment" ?



    -DC
     
  10. johnw

    johnw Formula Junior

    Jun 19, 2002
    438
    toronto
    Full Name:
    john
    dude, u need a new stock broker!
     
  11. tiggs

    tiggs Rookie

    Nov 11, 2003
    32

    But what kind of yearly % returns have you been getting on your portfolio? Seems pretty telling that among the Forbes list, there's people who are LTBH but no daytraders.
     
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  13. TimN88

    TimN88 F1 Veteran

    Jun 12, 2001
    5,032
    Northeast
    Full Name:
    Tim
    I love timing it right...but hate timing it wrong.
    If you'll check out a chart GZFX i bouight in when it was aroung 5 cetns at the dip last month. That was a nice one
    then theres Alcoa (AA) bought that one on tuesday only to have earnings not meet analysts expectaions (they were up ALOT from last year, but this wasnt good enough) so it went down a few %.
     
  14. pizzadude

    pizzadude Formula 3
    Silver Subscribed

    Feb 20, 2001
    1,225
    Indianapolis, IN
    The real money on wall st. is made trading stocks and doing it against the public. A perfec example the 800 pound gorilla Goldman sachs just reported very good earnings and one of the reasons given for those earnings was income from trading stocks.
     

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