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Penny stock thread split

Wally Fairway

By Wally Fairway
in Business and Markets

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Should there be a separate Penny Stonk thread?  

58 members have voted

  1. 1. Speaketh yer mind Surlites

    • Keep everything in the Stonk thread
      12
    • Make a new thread focused on Penny Stonks
      19
    • Whatever RCRanger says is good by me
      14
    • I'm good either way
      8
    • Dickbutt - tree fiddy - OUsux - I just wanted to vote
      4

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  • Poll closed on 02/04/21 at 05:00 AM

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RCRanger03
RCRanger03

Not bad advice, but no worries here. I'm just an internet stranger lol. When I can I'll help put out information about when and where to get in on the bottom floor, or when catalysts look to take it t

CooterBrown
CooterBrown
RCRanger03
RCRanger03

NVSOS is where it gets filed and FINRA is where it is enacted. If/When an R/S is done you'll see it show up here - https://otce.finra.org/otce/dailyList Apparently I got more than just yall into XM

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The Royal We

The Royal We 3072

Posted
Posted (edited)

Called Vanguard and got on the phone with someone pretty quick - bottom line is I can trade it over the phone but it won't be updated in their system and available to trade online until Monday.

I didn't do anything yet, but might trim my position by 50% if I can sell at $4+  I feel like this would be a blood bath if more retail investors could actually trade it this morning.

All my shit is on a 15 minute delay which is a real kick in the dick too.

Edited by The Royal We
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TechTech

TechTech 99

Posted
Posted
2 minutes ago, Hefeweizen said:

I’m fine with riding on free shares for humbl.  Not so fine with my stupid decision to get back into PFMS after saying I was done with it.  
 

Every once in a while you need a good stress test.  I guess today is going to be that.  Not selling a fucking thing today.

diamond hands confirmed

  • Hook 'Em 1
  • Fuck You 1
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cam4mav

cam4mav 771

Posted
Posted

I canceled my limit sell at like 1am.

Mine got split between 1k shares - > 250 listed as TSNPD and then another 300 shares currently listed as 881608103 humbl inc 1 for 4 R/s. 

300 shares was my purchase yesterday. Maybe an effect from not settling yet?

I had 1.3k shares total so that all adds up. The 250 was showing current price and was tradeable. Shed it at $4.10 to secure a profit.

Still have the 300 that will turn into 75 at some point. Also glad to see $1k settle that I expected so I have powder to get back in as the day goes on. Who knows what that will look like.

 

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TexasEd

TexasEd 8067

Posted
Posted
11 hours ago, Sam Lin said:

Tax reasons are the main reason you'd be choosing lots, for example if you have certain lots that are big gainers but are not yet to LT gains time, then you might choose other lots to sell that have less gain/loss just so your big gains get the LT gains tax rate. Another reason is if you're wanting to capture gains or losses to balance out your gains at the end of a tax year, you might intentionally pick big losers or big winners and sell them to realize the gain/loss to use on your taxes for the year.

 

11 hours ago, The Royal We said:

Ahh, thank you Sam.  That's exactly what I was was looking for.

 

11 hours ago, cam4mav said:

See that's the big brain stuff I'm looking for as I show my ignorant ass out here. Appreciate it

 

10 hours ago, Coelenterate Fuccboi said:

Thank you! This will help ease the tax burden while I swing trade on top of my original positions.

Don't get stuck in the Tax Loss Harvesting trap.  The basic premise is that if you sell at a loss now and buy back in within 30 days to the same stonk you could get the loss disallowed as an offset against gains.  

If you are truly exiting the position and not getting back in then you will be fine but if this is a stonk you plan to continue trading you need to watch out.

  • Hook 'Em 3
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cam4mav

cam4mav 771

Posted
Posted (edited)
1 minute ago, TexasEd said:

 

 

 

Don't get stuck in the Tax Loss Harvesting trap.  The basic premise is that if you sell at a loss now and buy back in within 30 days to the same stonk you could get the loss disallowed as an offset against gains.  

If you are truly exiting the position and not getting back in then you will be fine but if this is a stonk you plan to continue trading you need to watch out.

we only sell gains bruh

 

 

 

edit - you're point is valid and true. we discussed it here or in stonks a while back too. within 3 days that potential tax realized loss goes bye bye if you buy back in

Edited by cam4mav
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The Royal We

The Royal We 3072

Posted
Posted

Good info, thanks TexasEd.  Depending on how far (if?) TSNP falls next week this could def. apply to me. 

I bailed on my real work and spent some time on the phone with Vanguard, who were actually very helpful btw.  I've got an open order to sell 40% of my shares at $4.15.  I stayed on the phone with them for a bit to see if the order would fill, but he said they had orders for ~500k+ shares they were trying to fill at lower prices and price/time priority dictated those orders would be filled first. 

So, maybe it would be trading much lower if all retails could trade online this morning?

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cam4mav

cam4mav 771

Posted
Posted

ALPP in the ROTH is a very solid move. Get it!

Yesterday I bought after the morning dip on a few things and watched those picks continue to go down throughout the day lol. 

I'm thinking wait until after lunch and pick a few things, including getting back into TSNPD.

current watchers are RXMD, AITX, AQMS, ONTX

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nycHorn

nycHorn 3034

Posted
Posted
Cash in the ROTH and immediately bought 1000 shares of ALPP at $5.7 because fuck my trading rules of only buying under a $1!
It wouldn't be me trading if I didn't have ALPP
Everything is on sale today. Can't decide what to buy!

See if you can get some RXMD in the low .12s
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Trey3216

Trey3216 15347

Posted
Posted
58 minutes ago, The Royal We said:

Called Vanguard and got on the phone with someone pretty quick - bottom line is I can trade it over the phone but it won't be updated in their system and available to trade online until Monday.

I didn't do anything yet, but might trim my position by 50% if I can sell at $4+  I feel like this would be a blood bath if more retail investors could actually trade it this morning.

All my shit is on a 15 minute delay which is a real kick in the dick too.

Get the CNBC app on your phone and add the stonk to your watchlist.   It keeps pretty damn good real-time quotes for a free app.  

  • Hook 'Em 2
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Coelenterate Fuccboi

Coelenterate Fuccboi 13114

Posted
Posted
6 minutes ago, RCRanger03 said:

Aren't $150k account swings up and down in a month normal for an account started with $3400?

I highly recommend you setting up these potential mega-runners in your Roth. You can get in and out without any tax concerns. It appears you have a tremendous gift for finding winners and sticking with them through all the early ups and downs. Then it’s just a matter of not getting too emotionally invested in a particular stock. We appreciate you sharing your gift.

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RCRanger03

RCRanger03 1049

Posted
Posted
3 minutes ago, Coelenterate Fuccboi said:

I highly recommend you setting up these potential mega-runners in your Roth. You can get in and out without any tax concerns. It appears you have a tremendous gift for finding winners and sticking with them through all the early ups and downs. Then it’s just a matter of not getting too emotionally invested in a particular stock. We appreciate you sharing your gift.

Think About It Reaction GIF by Identity

That's the idea. This weekend is going to be a sub penny DD extravaganza 

  • Hook 'Em 2
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HoustonHorn

HoustonHorn 1062

Posted
Posted
17 minutes ago, RCRanger03 said:

Aren't $150k account swings up and down in a month normal for an account started with $3400?

Not sure, but it is painful on the downswing - about $180k for me but I started with about double what you did. All hookers and blow on the way up though. Diamond hands here (by default since TDA won't let me trade TSNP).

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