I don’t doubt that Biden winning will be fine for the market in the long run but the potential change for capital gains taxes doubling could lead to some selling to lock in the lower rate on the huge tech gains people are sitting on.
Hi people smarter than myself. If I wanted to dump 10k into apple should I do it now or wait until after the split?
This is an emotional, fear based post not grounded in reality. It's not like capital gains rates would double overnight without warning
I’m just trying to prey on some fears and make some money but figured I’d throw it out there for people’s thoughts so I do appreciate the response
The thing about Biden is he doesn't really have anything guiding him internally. He'll go with the wind and that will probably be some from the left but a lot of corporate democrats that won't be into that sort of thing. He's no crusader.
The Tax Cuts and Jobs Act was passed on 12/22/2017 and most of it was effective after 12/31/2017. That is an extraordinarily quick window but it's still a ~week. I don't know for certain obviously, but if there were going to be rate changes I'd bet they will be more targeted towards wealthy earners given how disproportionately the wealthy benefitted under the TCJA. So long term capital gains rates for the middle class may remain the same: 0-15% unless you're earning ~$450,000 or more
I would do it $1k at a time over the next 10 months or $2k over 5. Might help you, might hurt you but it's way safer to the downside
Setting aside whether this is true or not, institutions are definitely pricing in the probability of Biden/Trump. At the retail level, you might see some selling leading up the election but in the vast majority of flows, this is already accounted for. I do think if Biden wins you will see a big sell off the day after, which I (hope) to buy the shit out of. Biden will be different from Trump in a lot of ways, but capital gains / tax reform is going to be way down the list. He’d be getting an economy on the thinnest of ice, he isn’t going to drop a rock under his feet.
Biggest thing I see with Biden/Harris is that Harris has said she wants to tax every single trade you make. The other thing I see is massive regulation of the markets and fraud snapping back into play. Markets right now are a complete free-for-all. Believe I mentioned the fraud, etc. a page back or so. Just seems like Trump's admin has neutered the SEC and most oversight. If that should continue, I definitely see that as a positive for all markets. Biden/Harris slightly negative for markets but you know they are all controlled by big money anyway. Something to watch in the next week is if this week's trend of ramping up mid-day and then selling off into the close continues. Today was the worst volume day for SPY that I can remember before the last 2 hours of selling started. We finished 42M total volume but were on track for a little over 30M. To give you an idea of how bad that is, Christmas Eve saw 20M total trading volume.
lmao yeah it looks super-suspect. I believe a lot of it was just shorts covering though. They are so used to taking it with no lube for the past few weeks. High risk to hold through the weekend and get gapped-up on some BS like an Amazon 5-to-1 stock split.
Harris’s proposal as a presidential candidate to fund M4A was targeted towards the wealthy/Wall Street, I believe. And it was really low - like 20 cents per $100
This past weeks new positions: KSS DBI BSX SPG FRT MDT SABR Sit back and watch the magic happen kids.
NVDA earnings this week, up 135% from March lows. Up over 50% from pre COVID highs, nearing 300B market cap, tech been squirrelly, I’m taking a lotto put option.
My 9/18 7.50 Kodak puts are up 50% now and just slightly out of the money. Should I keep riding these things or just take my profits and move on? Leaning towards profits since I’ve watched my other options turn red from holding too long
Toying with holding WMT through earnings unless things pop off pretty bigly over the next few hours. They haven't had near the run that a lot of big names got prior to earnings and a beat could shoot them up pretty drastically.
I’ve set a few price triggers for today. I’ve held pretty steady with them, so hopefully it pays off.
I'm working in a few calls. Have a 131 8/21 that I've held for weeks that turned green by a decent margin today...and a 134 8/28 that is looking pretty good from where I bought it. Might sell one and hold one.
I have a 134 8/28 too. That’s the one I’m looking to move. I have two 135 12/20 that I intend to hold.
Yep. I was the one that sold that 9/18 7.50 put to you. Sold at 3.27 on 7/30 and BTC at 2.26 on 8/11. I'd take whatever gains or losses you have in Kodak today, and move on. I always manage at 50%.
WOW volume DEAD in the SPY. 38M was the previous low of the year set a week or two ago. Today was 28M. Not much to say outside that.
Interested to see BABA earnings on Thursday morning. They’re going to crush it I feel. JD paid me handsomely today.
Eli vaulted to 4th richest person on earth yesterday when it passed 1800, a day later it’s over 1900. No end in sight