Stock market correction

[EL PRESIDENTE]

Fell about 460 on Friday, dropped 1,000 points at the bell and is currently down 500.

End result of all of this? The FED probably won't raise interest rates later this year. The market is overinflated and its just letting off steam (i.e. a correction).

Eventual end result of all of this?

We're fucked.

 

[magnifier661]

I lost a ton of money since Thursday

 

[Denny Crane]

Time to wipe your ass with $20 bills instead of $100s

 

[riverman]

I lost a ton of money since Thursday

you're not alone my friend

 

[magnifier661]

you're not alone my friend

I've taken big hits on Apple, Tesla and MGM. My mutual funds dropped as well.

 

[riverman]

with the capital gains taxes in Oregon, I'll still end up paying out the nose next April no matter how much I lose in August

 

[magnifier661]

with the capital gains taxes in Oregon, I'll still end up paying out the nose next April no matter how much I lose in August

I thought you were only taxed a gain or loss if you sell the stock?

 

[riverman]

I thought you were only taxed a gain or loss if you sell the stock?

My mutual funds gained a few thousand in one month a few years back and sucked the rest of the year but for that one month gain I paid record tax ..not from selling stocks but from mutual funds and IRA contributions. Oregon needs a sales tax..it's ridiculous

 

[Denny Crane]

Mutual fund goes up 100% by Dec. 31, you pay tax on the gain (the fund's selling of stocks is passed through to the shareholders).

Mutual fund goes down 50% after Jan 1. you lose all your gains, ended up paying the tax on a net zero. You do get to carry the losses forward at $3K/year.

Yay, government.

 

[magnifier661]

My mutual funds gained a few thousand in one month a few years back and sucked the rest of the year but for that one month gain I paid record tax ..not from selling stocks but from mutual funds and IRA contributions. Oregon needs a sales tax..it's ridiculous

Ahhh yes the mutual funds... They buy and sell daily, so the gains must be taxed.

 

[riverman]

Ahhh yes the mutual funds... They buy and sell daily, so the gains must be taxed.

after that I changed most of my IRA from a traditional acct to a Roth account..

 

[dviss1]

with the capital gains taxes in Oregon, I'll still end up paying out the nose next April no matter how much I lose in August

Whatever... capital gains tax is 11% in OR right? IMO capital gains should be taxed just like the working man is taxed.

 

[Denny Crane]

Whatever... capital gains tax is 11% in OR right? IMO capital gains should be taxed just like the working man is taxed.

Capital gains on mutual funds aren't actually realized. And you probably shouldn't pay taxes on gains that are reinvested in stocks.

Consider the mutual fund. You buy $100 worth of shares in it. The value doubles to $200. You don't get the $100, it's still in the fund. But the tax treatment is the $100 gain is passed on to you. So you pay 11% on the $100 gain. But Jan 1, the value is cut in half, like during a massive stock market correction that appears to be going on. Your value is $100 again, but you've paid 11% on $100 you never saw, except on paper.

If you buy a share of Apple at $100 and sell it at $105 and but a share of google for $105 with the proceeds, you shouldn't be taxed. Make the case.

 

[MARIS61]

This cost me a $7,000 commission.

One day later and the deal would have been sealed, but my buyers were foolish enough to have all their money in the market. Now a good chunk is gone.

Anyone hoping for a quick reversal is going to lose in a big way. Good things don't happen to the stock market during election years.

Best to sell and GTFO and stay out.

 

[riverman]

This cost me a $7,000 commission.

One day later and the deal would have been sealed, but my buyers were foolish enough to have all their money in the market. Now a good chunk is gone.

Anyone hoping for a quick reversal is going to lose in a big way. Good things don't happen to the stock market during election years.

Best to sell and GTFO and stay out.

I've never banked on quick reversals..short term panics and selling off stocks are part of the crash. Long term, it'll balance out.

 

[EL PRESIDENTE]

I've never banked on quick reversals..short term panics and selling off stocks are part of the crash. Long term, it'll balance out.

No it won't. Market is over inflated due to government intervention. Its going to get painful. If this does anything, it just delays the fed raising the interest rate until after the 2016 election. That's when the shit hits the fan.

 

[Nikolokolus]

No it won't. Market is over inflated due to government intervention. Its going to get painful. If this does anything, it just delays the fed raising the interest rate until after the 2016 election. That's when the shit hits the fan.

Maybe I'm wrong, but isn't most of the current instability really about all of the uncertainty surrounding China?

 

[Hobbesarable]

Maybe I'm wrong, but isn't most of the current instability really about all of the uncertainty surrounding China?

They took a huge hit in their own market known as China's Black Monday.

http://www.theguardian.com/business...-sell-off-deepens-as-panic-grips-markets-live

 

[EL PRESIDENTE]

Maybe I'm wrong, but isn't most of the current instability really about all of the uncertainty surrounding China?

So Trump is right?

 

[EL PRESIDENTE]

They took a huge hit in their own market known as China's Black Monday.

http://www.theguardian.com/business...-sell-off-deepens-as-panic-grips-markets-live

It happened last week due to the failure of the central bank intervention. The market no longer exists, it doesn't reflect the performance or health of a company but is a reflection on how much the government is keeping the numbers inflated, it's a tool of the central bank (the FED).

Everything is probably at least 100% overinflated. These corrections mean nothing as its all monopoly money.

Sent from my SGH-T999 using Tapatalk

 

[magnifier661]

Maybe I'm wrong, but isn't most of the current instability really about all of the uncertainty surrounding China?

1000% correct sir. One of our largest customers just lost 30 mil because he's from China. The price of product is almost as much as they can sell it for. We have to work some discounts in to offset their currency drop, which costs us millions

 

[magnifier661]

They took a huge hit in their own market known as China's Black Monday.

http://www.theguardian.com/business...-sell-off-deepens-as-panic-grips-markets-live

They seized all credit cards and shut down the banks for a week after announcing the devaluation! Gotta love communism!

 

[jlprk]

Mutual fund goes up 100% by Dec. 31, you pay tax on the gain (the fund's selling of stocks is passed through to the shareholders).

Mutual fund goes down 50% after Jan 1. you lose all your gains, ended up paying the tax on a net zero. You do get to carry the losses forward at $3K/year.

Yay, government.

Gotta love capitalism!

 

[Denny Crane]

Gotta love capitalism!

You mean the tax system fucks over people.

 

[EL PRESIDENTE]

Capitalism ended a while ago. The central bank controls the stock market now.

 

[stampedehero]

Mutual fund goes up 100% by Dec. 31, you pay tax on the gain (the fund's selling of stocks is passed through to the shareholders).

Mutual fund goes down 50% after Jan 1. you lose all your gains, ended up paying the tax on a net zero. You do get to carry the losses forward at $3K/year.

Yay, government.

> As usual the authorities stab you in the head and then the ass.