OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[deleted user 7639]

Someone in this thread is actively engaged with these companies (corporate strategy guy) - not going to call him out but he doesn’t like SKLZ at all.

Roblox though - he’s a big buyer there

Same guy that was a big SNOW buyer??

 

[アミーゴ]

Same guy that was a big SNOW buyer??

Nailed it

 

[GreenNGold89]

Anyone here ever done a backdoor Roth? I currently have a traditional IRA and my understanding is if I want to do the backdoor Roth, I have to roll my traditional IRA into a 401k otherwise I'm going to get hit with the "pro-rata" rule. Curious if anyone has done it.

 

[アミーゴ]

Anyone here ever done a backdoor Roth? I currently have a traditional IRA and my understanding is if I want to do the backdoor Roth, I have to roll my traditional IRA into a 401k otherwise I'm going to get hit with the "pro-rata" rule. Curious if anyone has done it.

Yeah - if you have the cash to pay the taxes now I’d suggest it

 

[biggie62]

Yeah - if you have the cash to pay the taxes now I’d suggest it

One caveat, only if he took the tax deduction for the Roth contributions in the past. He’d had to pay tax on that portion, I’m not 100% sure how the appreciation would be treated but my gut feeling is that it would be proportional to the amount of taxable contributions vs non tax. But a good custodian should be able to provide accurate figures.

 

[アミーゴ]

Yeah just have your tax guy do it or your brokerage can help. It is proportional as stated above.

 

[antidope]

I contribute to Roth via the backdoor method. First year going for the 401k max in a Roth as well over a traditional. It's gonna suck but oh well.

I would definitely just go to a tax advisor and have them handle it for you as suggested above.

 

[johnnyredstorm]

FUBO buys a sports book, plans to launch one this year. This will squeeze to 40-45 probably. I don’t see any fundamental change in the company’s future and would use that as an opportunity to sell not hold forever. They have negative margins, 0 brand power, 500k users so basically barely anyone to monetize their platform, they’ll need to spend a **** load in s&m for growth, plus compete with well established brands with deeper pockets and better margins, to me if you want to play sports ott and sports betting, you buy Disney and draft kings.

trade FUBO, don’t own it.

 

[jrod54life]

got completely out of DKNG there was good news with the cuomo NY gambling
but with college football over, nfl less games, no mlb games and nba starting to postpone games ill wait for a lower entry point and locked in gains

 

[johnnyredstorm]

buy volatility for the inauguration. these scumbags are planning a terrorist attack.

I bot 2 UVXY 20 alls for the inauguration for like .21 I think. They probably go to 0. But if anything happens, my roadmap shows 40-44 as a possibility for UVXY. Needs a huge jolt of volatility obviously.

 

[degenerate423]

noskey Glad we didn’t jump on those TSLA puts .

 

[sohi 23]

I should’ve just kept my portfolio 100% tsla

 

[ballinsam23]

Put a stop sell order in for GRWG. Cant be mad at 14% gain in a week for something too volatile. Didn't like some things I was reading about the team there.

 

[jrp44]

Wtf is up with Etsy

 

[noskey]

noskey Glad we didn’t jump on those TSLA puts .

TSLA eats my lunch no matter what I do, cant imagine puts and flushing away money.

 

[johnnyredstorm]

Stopped in IIPR at 190. Nice little trade. Didn’t like the low estimates moving forward, was a tiny position, wanted the cash in case the market gets hectic. Closed hedges in dkng and GDRX. Stocks look fantastic right now.

 

[lazyj10]

I just keep riding this TSLA wave; grabbing gains but missing upside. Trying to be disciplined but not stupid.

Hedged hard yesterday to offset $5k losses; kept Calls overnight in part because I liked the last hour of trading yesterday. Woke up 6:20a pacific and saw we should open in the green. Both my 830 and 835s quickly went into the money and I set some limits. Closed position and onto the next.

 

[southernhospita]

Good short setups all over the place you just got to wait man (for my options players )

I’m a little bit lazy to but I’d rather wait instead of FOMO

 

[Xennial]

what's a good entry for GDRX and DKNG?

Stopped in IIPR at 190. Nice little trade. Didn’t like the low estimates moving forward, was a tiny position, wanted the cash in case the market gets hectic. Closed hedges in dkng and GDRX. Stocks look fantastic right now.

 

[johnnyredstorm]

I've been building a position in GDRX in the 40-41 range, and I've left room to add my final piece at 37.50 or over 45.30. DKNG like it against 53 with an aggressive stop but tbh today's candle has turned to ****, you could use the low of day as your stop if you need to be in it right now, otherwise 49.92 should be a decent area of support.

 

[johnnyredstorm]

SQ If we lose today’s low of day, or it gets taken out tomorrow, 217, 200, 190 are your levels of interest. Needs to get back over 229 for the trend to confirm higher prices.

I personally don’t know if I want to add any shares back, I’m down to just 5 and if I’m not sure if I should buy, I’m not sure if I should still hold the stock so we’ll see.

apple, eying 124, 122, 120 as levels of interest to add more.

 

[sohi 23]

Why you backing out of SQ? johnnyredstorm

That’s a long term hold I’ve been eyeing.

 

[noskey]

Speaking of SQ. Any reason I shouldn't buy into ARKF right now before earnings season kicks off? Fintech is blasting higher, would earnings be a chance for a correction or will the stocks be buoyed by improving guidance? I cant help but feel like fintech stocks will keep climbing even in the face of another shutdown, due to the nature of the businesses.

 

[OprahsBabyDaddy6]

Regret not going all in on $PLUG after that 1.5 billion news at $30 on Jan 5th, it’s $65 now smh.

 

[johnnyredstorm]

Why you backing out of SQ? johnnyredstorm

That’s a long term hold I’ve been eyeing.

It's a great company, I'm just bored tbh.