Is it time to get out of the market?

[peenie 1,690]

7 minutes ago, Patriotsfatboy1 said:

 

I hope that peenie didn't sell yesterday.  It is up over 11% today.  Now, if you wanted to bail on your gains now, I could see doing it at this time, but I could also see it continue to go up some more.  Depends on your appetite for risk.

Thank you so much!!!

[peenie 1,690]

22 hours ago, Strike said:

Peenie,

  Are we your only source of investment advice?  I have recommended this before, but I'm going to do so again.  Please read a book on investing.  I recommend this one:

https://www.amazon.com/All-About-Asset-Allocation-Second/dp/0071700781

It's not that long but will make you feel so much more knowledgeable.  It's not about what funds you buy, but about the combination of funds that you buy. 

Yes, you guys are all I have...

I will buy that book, thank you!

[Strike 3,980]

12 minutes ago, Patriotsfatboy1 said:

 

I hope that peenie didn't sell yesterday.  It is up over 11% today.  Now, if you wanted to bail on your gains now, I could see doing it at this time, but I could also see it continue to go up some more.  Depends on your appetite for risk.

Zoom is a risky stock to own.  They have been getting hammered for extremely lax security, something you shouldn't have to worry about with a tech company, for the last few weeks.  They look good right now, during this crisis, but I could see a lot of customers of theirs jumping ship at their first opportunity.  Zoom is currently our standard at work, but we also have access to Webex and MS Teams.  I'm having more and more customers tell me they're blocking zoom.  That could become an avalanche if zoom doesn't prove they've resolved all of the security concerns about their product. 

[Cdub100 3,384]

18 minutes ago, Patriotsfatboy1 said:

 

I hope that peenie didn't sell yesterday.  It is up over 11% today.  Now, if you wanted to bail on your gains now, I could see doing it at this time, but I could also see it continue to go up some more.  Depends on your appetite for risk.

She needs to just buy index funds. 

[Patriotsfatboy1 1,432]

2 minutes ago, Strike said:

Zoom is a risky stock to own.  They have been getting hammered for extremely lax security, something you shouldn't have to worry about with a tech company, for the last few weeks.  They look good right now, during this crisis, but I could see a lot of customers of theirs jumping ship at their first opportunity.  Zoom is currently our standard at work, but we also have access to Webex and MS Teams.  I'm having more and more customers tell me they're blocking zoom.  That could become an avalanche if zoom doesn't prove they've resolved all of the security concerns about their product. 

Agreed. I don’t see it as a long term stock. Risky play, but a good one now. I would have already had a limit sell order in that likely would have triggered today when it go up by 10%. But that is me.

[Patriotsfatboy1 1,432]

1 minute ago, Cdub100 said:

She needs to just buy index funds. 

Not that day. That was a bad day to sell. I would look at selling now, though 

[peenie 1,690]

Maybe I'll sell them soon.

[Patriotsfatboy1 1,432]

3 minutes ago, peenie said:

Maybe I'll sell them soon.

Might want to sell it at $167 where it is now and take your gains. 

[peenie 1,690]

23 minutes ago, Patriotsfatboy1 said:

Might want to sell it at $167 where it is now and take your gains. 

But what if it still goes up? I don't own many shares...just 6.

Okay, I just sold 3.

[Patriotsfatboy1 1,432]

4 minutes ago, peenie said:

But what if it still goes up? I don't own many shares...just 6.

If it were me?  I would put it into QQQ or SPY right now.  Less risky.

BTW - it may very well go up, but it is a stock that has some risk that comes with that upside. You probably made 15-20% already in a short period, so take that and run.  

[peenie 1,690]

Just now, Patriotsfatboy1 said:

If it were me?  I would put it into QQQ or SPY right now.  Less risky.

You may not have seen above, I sold 3. I will check the prices of those 2 stock/fund things.

[Patriotsfatboy1 1,432]

1 minute ago, peenie said:

You may not have seen above, I sold 3. I will check the prices of those 2 stock/fund things.

Those 2 are index funds that track towards the NASDAQ and S&P 500.  Both have relatively low fees, so you are betting on the market as a whole instead of an individual company (stock) or market/industry (managed funds).  

[peenie 1,690]

1 minute ago, Patriotsfatboy1 said:

Those 2 are index funds that track towards the NASDAQ and S&P 500.  Both have relatively low fees, so you are betting on the market as a whole instead of an individual company (stock) or market/industry (managed funds).  

Which to buy? Both? Which is best?

[Patriotsfatboy1 1,432]

26 minutes ago, peenie said:

Which to buy? Both? Which is best?

I have positions in both.  Depends on what you think will happen.  QQQ is about 12% below it's 52 week high.  SPY is about 20% below. 

[Leeson 54]

I hate to be that guy. But, has anyone explained capital gains taxes to Peenie? Don't want there to be any surprises come tax time. 

[peenie 1,690]

5 minutes ago, Leeson said:

I hate to be that guy. But, has anyone explained capital gains taxes to Peenie? Don't want there to be any surprises come tax time. 

What is capital gains?

I'll look it up.

Omg...you mean if I sell stocks that I have held for less than I year I have to pay 22% of the profits? That means if I made $100 I have to pay $22 in taxes?

What if I keep the stocks for a year, do I still have to pay taxes on it?

[Patriotsfatboy1 1,432]

3 minutes ago, peenie said:

What is capital gains?

I'll look it up.

For profit that you earn, you have to pay taxes on it.  Depending on how long you keep the stock before sale, it could be short-term or long-term capital gains.  

[Leeson 54]

16 minutes ago, peenie said:

What is capital gains?

I'll look it up.

Omg...you mean if I sell stocks that I have held for less than I year I have to pay 22% of the profits? That means if I made $100 I have to pay $22 in taxes?

What if I keep the stocks for a year, do I still have to pay taxes on it?

Lot's of variables. But, yes. If you bought 1 share for $100, and a month later it was worth $200 when you sold, you have to pay capital gains tax on the $100 that you made. 

If you sold something else in that calendar year that you took a loss on, you can offset your gains. 

[Cdub100 3,384]

18 minutes ago, peenie said:

What is capital gains?

I'll look it up.

Omg...you mean if I sell stocks that I have held for less than I year I have to pay 22% of the profits? That means if I made $100 I have to pay $22 in taxes?

What if I keep the stocks for a year, do I still have to pay taxes on it?

Buy index funds and never sell.

[Hardcore troubadour 12,662]

21 minutes ago, peenie said:

What is capital gains?

I'll look it up.

Omg...you mean if I sell stocks that I have held for less than I year I have to pay 22% of the profits? That means if I made $100 I have to pay $22 in taxes?

What if I keep the stocks for a year, do I still have to pay taxes on it?

Capital gains are how the rich get richer. Get on it! 

[Old School 360]

19 minutes ago, Cdub100 said:

Buy index funds and never sell.

This.

Just diversify a little.

My general rule when I stared out-

1/4 in Large Cap Domestic

1/4 in Small Cap Domestic-of course a bit more risky today

1/4 in Growth & Income

1/4 in International

Individual stocks come into play once you have a portfolio and feel you have some money to play with

[peenie 1,690]

Thanks you guys, I really appreciate you trying to help me. It's times like these when I don't regret leaving here. I will try to educate myself on these matters.

[peenie 1,690]

1 hour ago, Hardcore troubadour said:

Capital gains are how the rich get richer. Get on it! 

Explain...if you have to pay so much taxes it seems like you don't gain a lot?

I suppose if you have a lot of money it's not such a painful thing.

Then again, taxes pay for all the wonderful things our country provides for us (teachers, police, military, parks, help for the needy).

[Strike 3,980]

1 minute ago, peenie said:

Thanks you guys, I really appreciate you trying to help me. It's times like these when I don't regret leaving here. I will try to educate myself on these matters.

I don't think this says what you wanted to say.  lol.

Yeah, capital gains are one of the reasons to just buy funds and keep them long term.  I hope you follow through on getting the book I suggested.  It won't go in to too much detail on the taxes front, but will explain to you in pretty good detail why for most investors using index funds is the best investment vehicle and help you determine what asset allocation is best for you.

[Patriotsfatboy1 1,432]

1 hour ago, peenie said:

Explain...if you have to pay so much taxes it seems like you don't gain a lot?

I suppose if you have a lot of money it's not such a painful thing.

Then again, taxes pay for all the wonderful things our country provides for us (teachers, police, military, parks, help for the needy).

Best way to look at it is that every dollar you make (work, tips, gambling, stocks, etc.) is going to be taxed. You just need to decide how you maximize the amount you take home.

[bandrus1 413]

Does anybody have an opinion on physical silver

[Mookz 1,287]

8 minutes ago, bandrus1 said:

Does anybody have an opinion on physical silver

I think it is extremely pretty.  

[NorthernVike 2,080]

The best advise we can give peenie is to marry a rich guy.  Although it may be too late for that.

[Utilit99 4,099]

15 minutes ago, NorthernVike said:

The best advise we can give peenie is to marry a rich guy.  Although it may be too late for that.

Is Billie D Williams still alive?

[Leeson 54]

1 hour ago, bandrus1 said:

Does anybody have an opinion on physical silver

I've been buying some since the end of 2019. Partially to diversify, partially just cause I wanted to have something I could put in the safe and feel important. (look at me!!)

I've been using JM Bullion out of Las Vegas. I usually buy clearance items (they update items every Monday morning) that have a low cost over spot. Haven't bought anything since end of February. Due to the virus, there has been a shortage on silver, but it hasn't done so much to move the price of silver,  it's just increased the cost over spot. At one point JM had a 4 week delay, $300 minimum order, and most clearance items were $5 over spot. (not worth it in my opinion). Sometimes you can find clearance items for less than a $1 over spot. 

I have zero experience selling. I've read that it can be tricky finding buyers. Which is why I try to buy as cheaply as possible. No sense paying fees on the front end and the back end. 

 

[bandrus1 413]

7 hours ago, Leeson said:

I've been buying some since the end of 2019. Partially to diversify, partially just cause I wanted to have something I could put in the safe and feel important. (look at me!!)

I've been using JM Bullion out of Las Vegas. I usually buy clearance items (they update items every Monday morning) that have a low cost over spot. Haven't bought anything since end of February. Due to the virus, there has been a shortage on silver, but it hasn't done so much to move the price of silver,  it's just increased the cost over spot. At one point JM had a 4 week delay, $300 minimum order, and most clearance items were $5 over spot. (not worth it in my opinion). Sometimes you can find clearance items for less than a $1 over spot. 

I have zero experience selling. I've read that it can be tricky finding buyers. Which is why I try to buy as cheaply as possible. No sense paying fees on the front end and the back end. 

 

They are who I will be probably buy from.

 

I know JM will buy gold at any time will they not do the same with silver?

[peenie 1,690]

11 hours ago, NorthernVike said:

The best advise we can give peenie is to marry a rich guy.  Although it may be too late for that.

Yeah, it's too late now.

[Leeson 54]

2 hours ago, bandrus1 said:

They are who I will be probably buy from.

 

I know JM will buy gold at any time will they not do the same with silver?

Honest answer, I don't know.

I have a couple of gold etfs (BAR and GLD) that I also moved money into in January. Those will be sold before the physical stuff. 

The physical silver probably will be the last thing I sell (or trade). Kind of an end of the economy hedge or it will go to my kids after we die. 

My three part precious metals approach in uncertain times:

Gold - owned on paper

Silver - physically owned

Brass - plenty of ammo.

[NorthernVike 2,080]

37 minutes ago, Leeson said:

Honest answer, I don't know.

I have a couple of gold etfs (BAR and GLD) that I also moved money into in January. Those will be sold before the physical stuff. 

The physical silver probably will be the last thing I sell (or trade). Kind of an end of the economy hedge or it will go to my kids after we die. 

My three part precious metals approach in uncertain times:

Gold - owned on paper

Silver - physically owned

Brass - plenty of ammo.

[Strike 3,980]

14 hours ago, bandrus1 said:

Does anybody have an opinion on physical silver

It'll protect you from vampires

[bandrus1 413]

6 minutes ago, Strike said:

It'll protect you from vampires

thats a good point

[Cdub100 3,384]

Trading sideways

[NorthernVike 2,080]

My Jones rep called me this morning and advised me to get out of my Chinese stocks.  I had Alibaba, Tencent, and Baidu.  I found it interesting that they think there will be enough backlash from the beer flu that it will effect the chink market going forward.  None of the stocks were down that much from the pandemic.  I went ahead with his recommendation.  

[peenie 1,690]

4 minutes ago, NorthernVike said:

My Jones rep called me this morning and advised me to get out of my Chinese stocks.  I had Alibaba, Tencent, and Baidu.  I found it interesting that they think there will be enough backlash from the beer flu that it will effect the chink market going forward.  None of the stocks were down that much from the pandemic.  I went ahead with his recommendation.  

Omg, you're going to sell your Alibaba stocks?? I've always wanted a couple of those. Never heard of the others.

[bandrus1 413]

11 minutes ago, peenie said:

Omg, you're going to sell your Alibaba stocks?? I've always wanted a couple of those. Never heard of the others.

Baidu is Chinese google