Anybody Buying Yet? Where’s the Bottom?

[FREAK]

I’m kicking myself in the nuts this AM. Got scared and sold my positions this morning as it started to dip. Had a stop loss that I should have let ride….still a nice day:

 

[SAJ-99]

Almost seems like someone is manipulating SMCI stock.

News released after market close on Friday that SMCI will be added to the S&P 500. The stock jumped 12% after hours. I'm sure there are going to be some irritated people on Monday. Those longs that decided to keep the short call position in the $910 to $1015 weekly strike calls will be heavy cash come Monday. I would expect SMCI to do a stock split at some point soon.

 

[Benfromalbuquerque]

I'll go out on a limb and predict that SMCI will hit $1300 by the end of April. Could top $1000 today.

$1,135 today.

 

[homers]

What’s everyone’s view on impact of adding $1T to the national debt every 100 days? Seems like yesterday we were at $32T now we are fast approaching $35T. Don’t here much from the media, Congress or economists

 

[TOGIE]

what's our income over the same 100 days?

 

[BigHornRam]

What’s everyone’s view on impact of adding $1T to the national debt every 100 days? Seems like yesterday we were at $32T now we are fast approaching $35T. Don’t here much from the media, Congress or economists

Debt snowball is picking up steam. Don't step in front of it, cause it won't be stopping anytime soon.

 

[SAJ-99]

Debt snowball is picking up steam. Don't step in front of it, cause it won't be stopping anytime soon.

Deficit is a problem, but I will worry when demand for the debt starts to slip. Not seeing it, yet.

 

[antelopedundee]

$1,135 today. View attachment 317900

$987 now. Can one take comfort in the fact that those who bought at $1135 are expecting it to go higher? I'm out for now, but too volatile IMO to jump back in.

 

[antelopedundee]

What’s everyone’s view on impact of adding $1T to the national debt every 100 days? Seems like yesterday we were at $32T now we are fast approaching $35T. Don’t here much from the media, Congress or economists

Obviously tax receipts aren't keeping pace and billions in refunds are taking a bite. Yet some want to cut taxes even more.

 

[jryoung]

Obviously tax receipts aren't keeping pace and billions in refunds are taking a bite. Yet some want to cut taxes even more.

Don't forget many of the individual rates that changed in the 2017 TCJA will expire at the end of next year.

 

[BigHornRam]

Don't forget many of the individual rates that changed in the 2017 TCJA will expire at the end of next year.

jryoung wants his SALT deductions back, I see.

"Under the current rule, there is a $10,000 SALT deduction cap for single and joint-filing taxpayers who deduct local property, income and sales tax on their federal return. This deduction cap was created under the Tax Cuts and Jobs Act (TJCA) and is expected to sunset in 2026."

 

[antelopedundee]

jryoung wants his SALT deductions back, I see.

"Under the current rule, there is a $10,000 SALT deduction cap for single and joint-filing taxpayers who deduct local property, income and sales tax on their federal return. This deduction cap was created under the Tax Cuts and Jobs Act (TJCA) and is expected to sunset in 2026."

I wasn't aware that the Feds allowed sales tax to be deducted. Maybe some states do.

 

[antelopedundee]

I think TSLA is a lost cause.

 

[BigHornRam]

I wasn't aware that the Feds allowed sales tax to be deducted. Maybe some states do.

Up to 10k right now. Standard deduction for married filing jointly is 20k, so that is what is used by the overwhelming majority of taxpayers today. If the TJCA sunsets, that will be a different story, particularly in big tax states like California and New York.

Looking likely that it will be renewed at this moment.

 

[SAJ-99]

$987 now. Can one take comfort in the fact that those who bought at $1135 are expecting it to go higher? I'm out for now, but too volatile IMO to jump back in.

by MSTR instead!! YOLO!!!

Up to 10k right now. Standard deduction for married filing jointly is 20k, so that is what is used by the overwhelming majority of taxpayers today. If the TJCA sunsets, that will be a different story, particularly in big tax states like California and New York.

Looking likely that it will be renewed at this moment.

Like I said, no one cares. Even the people screaming about the size of the debt don't care enough to reverse the tax cuts.

 

[BigHornRam]

Like I said, no one cares. Even the people screaming about the size of the debt don't care enough to reverse the tax cuts.

We fed the beast long enough. Time for the beast to go on a diet.

 

[SAJ-99]

We fed the beast long enough. Time for the beast to go on a diet.

That would fit on a campaign sign. You should run. Only problem is you can't suck on the nipple of the beast yourself without feeding the masses.

 

[BigHornRam]

That would fit on a campaign sign. You should run. Only problem is you can't suck on the nipple of the beast yourself without feeding the masses.

I lack patience, money, and a filter to run. Otherwise I would consider it.

 

[Flatrock]

We fed the beast long enough. Time for the beast to go on a diet.

Let's start with 2 big dogs. Social security and Medicare.

 

[npaden]

I wasn't aware that the Feds allowed sales tax to be deducted. Maybe some states do.

Yep. It is the greater of your state income tax or state sales tax. In a state like Texas with no state income tax we get to do a calculation based on our income of the estimated state sales tax we paid, we don't have to keep the receipts or anything for the deduction. If you buy a large item like a car you get to do a specific deduction on that above and beyond the calculated amount.

Then you add the property taxes in as well. For people with expensive houses that live in states with a state income tax it is pretty easy to hit that $10,000 limit.