Investing General Discussion

Not gonna lie. I am ok with it. Guessed this was gonna happen and I have held my IRA contribution. Started adding a little to my ETFs today. Lower it goes, the more I get for my money!

It's my fault sorry. Last time I bought stocks it was months before the GFC kicked off and I went like -75%. Only had a few hundred in it thankfully.

I bought shares for the first time since then on Tuesday.

I'd love to say I was exaggerating.

SPY into the macro ascending support from the October lows, as well as the 50D. Failing that, you have the 200D below. Pretty bearish if we give all those supports up. So far it has reacted to the TL and 50D and reclaimed. Could just roll back over today though. Just my observations.

Gravel said:

Wow, my realized gains are super low. I guess because the taxable account wasn't even opened until 2018. I did another $15k today, and I'm going to guess my total is around $3-3.5k in gains.

So now I'm in a situation where I'm going to need to do a massive Roth conversion to "manufacture" income (which isn't a bad thing, since I can do it "cheap" this year, and convert even more) so we're not below 100% of the FPL ($18k?). Whole thing is rather confusing, to be honest. I'm sure once I do our taxes for 2022 it'll be a lot easier to understand the relationship these all have. But this being the first year to do it, and that the market is just so fucking terrible this year really makes it a shit show for me.

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Well, first year fail. I way overshot it with my "manufactured income" (traditional to Roth conversion).

Going to owe about $700, and I hate writing the IRS a check. Granted, this amounts to like a 0.0175% tax (was about $40k in rollover), so not the worst thing in the world as that now becomes $40k in Roth principle for 2027, which we can pull out completely tax free. And all those Roth gains will be tax free now too.

The market was so shit last year that we only had a little over $1500 in capital gains. And since we're in a low tax bracket that's tax free.

In retrospect it looks like I basically only have the standard deduction to play with.

I'm tempted to try to figure out how to get the EITC. I'm tired of being a sucker paying taxes. Going to be tough though as you have to keep "investment" income below $10k.

Edit: Just looked it up and since we don't have children, the absolute maximum we could even get from the credit is $560. So fuck that. Not worth my time.

Jysin said:

SPY into the macro ascending support from the October lows, as well as the 50D. Failing that, you have the 200D below. Pretty bearish if we give all those supports up. So far it has reacted to the TL and 50D and reclaimed. Could just roll back over today though. Just my observations.

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Heck of a bounce from that support I mentioned. Scalped some nice SPXL off it.

Edaw said:

Times are hard.

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Lee was an avid art collector and a friend of Bill Clinton and Hillary Clinton. In June 2008, at the conclusion of Hillary's unsuccessful presidential run, she and Bill were reported to have stayed at his East Hampton, New York beach front home for a few days for the period when she was out of the public eye.

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PCE data hot, plus previous revisions higher. SPY and QQQ 200D MAs in sight for today. Likely going to be a big fight if we get there, otherwise I expect some chop if we float in no mans land above it.

Bets on a 50bp Fed move increased.

Jysin said:

PCE data hot, plus previous revisions higher. SPY and QQQ 200D MAs in sight for today. Likely going to be a big fight if we get there, otherwise I expect some chop if we float in no mans land above it.

Bets on a 50bp Fed move increased.

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edit: rates ripping so hard, we’re going to have to start calling them ronks

Federal Reserve officials may need to raise interest rates as high as 6.5% to defeat inflation, according to new research that was sharply critical of the central bank’s initially slow response to rising prices.

In a paper presented Friday at a conference in New York, a quintet of Wall Street economists and academics argue that policymakers still have an overly-optimistic outlook and they will need to inflict some economic pain to get prices under control.

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I'm getting out of Google, they are incompetent at everything and yes they have a politically protected monopoly, but that can go down south fast. What do you all think about Google? It has been a huge earner for me much as I hate them, but I think we are at peak Google, they are so incompetent at this point and so stultified and gross. Just awful people with a fanatic's agenda and the backing of a failed state.

Hateyou said:

I’ve never bought google out of principle. That’s how I feel about them.

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Fair enough. I bought them in an earlier day. When they seemed glowy and happy, dumb me.

I'm a proponent of spite investing. Invest in companies you hate. If they do well, that sucks, but at least you make money. If they do poorly haha fuck you shitty company. Win-win!