Stocks and Trading Thread - Channeling your inner Mono

[Admiral Yi]

Alci, Jibber, there are your winning bets. 

[MadImmortalMan]

Bought: LO

Short: Nothing except SPY which I buy a few puts just because. Also, I still hate PM. Puts on that.

[Baron von Schtinkenbutt]

I think the software wants you to put in acquisition dates and purchase prices for each purchase, so that it can calculate which purchases qualify as long term holdings and which don't.

I say think because my dad and I have a weird relationship and he's the one filing my mom's return.

What would probably be simplest is if there's anyone here who had capital gains on a stock they dripped, and they told me how they input the purchases/reinvestments.

I can pull a statement from Vanguard that shows which gains are short and which are long.  I have not had to input that into tax software, though, because thus far I have only done this in my Roth.

[MadImmortalMan]

Janet isn't making the market happy atm. She doesn't seem to come across well to me.

[MadImmortalMan]

Oh wow. this is going quite badly indeed. Glad I bought some puts.

Edit: Closed out with a nice gain to offset the fact that she's tanking everything else.

[Admiral Yi]

Was there some announcement?

[MadImmortalMan]

Yeah the regularly scheduled Fed announcement. She read her statement and then everything fell apart during the Q&A. Lost about a week's worth of gains in a minute and a half. She seemed really flustered at first. I think this is her first one of these. I think we'll claw back a bit before the close. Well, in the next 40 minutes.

[Admiral Yi]

Teh Tapering(tm) was going to happen regardless of who was chairman.  You can't pin that on her.

[Phillip V]

Teh Tapering(tm) was going to happen regardless of who was chairman.  You can't pin that on her.

Tapering's not the issue. Problem is that she signaled the Fed may raise short-term interest rates earlier than expected.

[Admiral Yi]

Tapering and raising the discount rate are parts of the same parcel.

[MadImmortalMan]

Tapering is priced-in. Everyone already expects it.


Yesterday's little drama was the result of tradebots parsing her words and trading off of it combined with her accidentally making a mis-statement while answering a question. The result is a mini-flashcrash. Dudes clicking buttons can't drop the market that much that fast.

This is why Benny was so crazy precise with his wording, but mini versions of this happened to him a few times too.

Anyway, we got it all back.

[Admiral Yi]

Then you should thank her for creating an upside opportunity. 

[Admiral Yi]

In the gloating department, AT&T jumped 2 clams a share after I dumped a bunch of money into it. 

[MadImmortalMan]

Then you should thank her for creating an upside opportunity. 

I had puts on SPY which I sold while it was cratered. Janet bought my plane ticket to Europe with that little slip. 

[Admiral Yi]

Jessica.