Stock Market Today : June 4th - 8th - Page 3

Quote:

Originally Posted by rando 


I don't disagree with your premise. But think about the logistics. You can bury a bread box sized stash of gold in your back yard, or deep six it in a basement full of cardboard boxes. Extrapolate the dollar value of that gold to a reserve of oil, and you're going to need an underground football field sized area to store it. IMO oil is simply an impractical investment, and lots of gold owners are longer term investors who need somewhere to stash it. Oil is fairly infeasible for most to hold in inventory. Of course I've regretted not trying to get my hands on some Dec '15 oil futures contracts, as they were in the mid $70s in early 2010, but that's a different ball of wax.

Right, I understand that if you're looking to invest in physical gold versus oil it's not possible or practical I guess.

But I was actually referring to stocks or etf's. USO vs GLD for example, or mining stocks vs oil stocks.

Quote:

Originally Posted by OldFart 

If there was a financial collapse, which would you rather have?
Gold or cash?
People will always want a shiny metal.

Yea, I completely disagree.

I have some education questions and Id rather not post in the education section because I dont want to wait several days.

I have decided to switch brokers because my current broker has labeled me a pattern day trader I do not have 25 thousand dollars.

When I did my taxes last year I just downloaded the file from scottrade and posted it on the website I used to file my taxes. 

Here is when it gets a bit tricky. A few days ago I sold apple for a 3 thousand dollar loss * I had a gain before so my net gain in apple with the loss is around 2k, Its kind of confusing how I can have a loss of 3k but an overall gain of 2k.

Anywho..  Can I just tell my new broker my cost basis for apple if i rebuy it and then they would put it in the section for gains and losses? Im considering going with E trade.

My other option is to wait 31 days and then go with a new broker then I dont have to worry about wash sales right? The wash sale thing is making it kind of confusing. I have a few other stocks where I have bought and sold in the past 31 days and the wash sale rule may apply.

Scottrade doesnt care that they lost me as a customer. My trades settle on tuesday so on tuesday morning im getting all my money out of scottrade 

Im not going to tell my new broker i was labeled a pdt so i guess that rules out transfering my account right? Or could I just transfer my account to a new broker and have them transfer all my buys and sells that way any wash sale would be automically calucated if i buy apple again in the next 31 days? But if i did that then they would know i was labeled a pdt and if im hit with that status again the there would be no point of switching brokers.

I do appriciate the advice i have been given these past few days, and would appriciate any advice on these new questions. Thank you.

Id rather not give up trading in the stock market, however I may have no choice. My account is competely frozen from trading at the moment.

Guns, Ammo,Food and Medical supplies would be worth more than anything if things really got bad.. there wouldn`t be much use for gold.... what you gunna do, throw it at people tryin to rob you.. I tell people that buy physical gold that all the time and I get a blank look on there face.... deer in the headlights look 

Quote:

Originally Posted by o7media 

 

Right, I understand that if you're looking to invest in physical gold versus oil it's not possible or practical I guess.

 

But I was actually referring to stocks or etf's. USO vs GLD for example, or mining stocks vs oil stocks.

Oil will have an intrinsic value deemed somewhat important for a lot longer. Also there will be a lot more sustainability to oil pricing. Right now oil is correlating heavily to China. The one thing with oil however, is that this intrinsic value slowly, very slowly decays over time as technology severely increases. There will always be a market for oil and there will always be somewhat of a presence of demand, even though I am bearish on the very very long term, but macro flat on the regular long term..

Given a financial shutdown, oil will always be the preferred thing to own. It does take up a lot of space to control, but in a financial glitch, nothing really matters, right?

Gold on the other hand has no intrinsic value that holds given a financial collapse for an overwhelming percentage of outcomes, and suboutcomes! Also, I don't coin the term financial collapse as meaning one specific outcome, as obviously there can be many associated outcomes. My point is though that the probabilities are much, much, much more in favor of gold having no relative value. Even in the few situations where gold does have an intrinsic value after a financial crunch, it loses it over the time, in most of the situations. So to make that clearer for those who seem to have trouble..... The crunch has that small possibility of leading to gold having somewhat of an intrinsic value. Then that probability is broken down into sub probabilities of gold sustaining any type of intrinsic value consistently. This is where you see yet another small probability of the metal actually maintaining its intrinsic value. While the future can never be predicted a 100% of the time with 100% accuracy, probabilities make it easier to see what is most likely given other factors, right?

Also when I say financial crunch, I define that as markets no longer functioning. I don't really see it as a Dollar vs Gold kind of thing, as everything has it's own characteristics and reasoning for movement in price. Yes there are correlations sometimes for the short term, but take those with a grain of salt imo.... 

I am not describing the logical implications of why gold is not desired given market failure for the distribution of outcomes, as those are my own ideas that I will not share lol. I give you my opinion, so take it for whatever you think it's worth.

Disclosure:

I am not positioned in anything at the moment, except DNNC...lol..

Quote:

Originally Posted by LilCoonazz 

Guns, Ammo,Food and Medical supplies would be worth more than anything if things really got bad.. there wouldn`t be much use for gold.... what you gunna do, throw it at people tryin to rob you.. I tell people that buy physical gold that all the time and I get a blank look on there face.... deer in the headlights look 

You left out an important one.... Toilet Paper

Quote:

Originally Posted by Jamesw 

Oil will have an intrinsic value deemed somewhat important for a lot longer. Also there will be a lot more sustainability to oil pricing. Right now oil is correlating heavily to China. The one thing with oil however, is that this intrinsic value slowly, very slowly decays over time as technology severely increases. There will always be a market for oil and there will always be somewhat of a presence of demand, even though I am bearish on the very very long term, but macro flat on the regular long term..

 

Given a financial shutdown, oil will always be the preferred thing to own. It does take up a lot of space to control, but in a financial glitch, nothing really matters, right?

 

Gold on the other hand has no intrinsic value that holds given a financial collapse for an overwhelming percentage of outcomes, and suboutcomes! Also, I don't coin the term financial collapse as meaning one specific outcome, as obviously there can be many associated outcomes. My point is though that the probabilities are much, much, much more in favor of gold having no relative value. Even in the few situations where gold does have an intrinsic value after a financial crunch, it loses it over the time, in most of the situations. So to make that clearer for those who seem to have trouble..... The crunch has that small possibility of leading to gold having somewhat of an intrinsic value. Then that probability is broken down into sub probabilities of gold sustaining any type of intrinsic value consistently. This is where you see yet another small probability of the metal actually maintaining its intrinsic value. While the future can never be predicted a 100% of the time with 100% accuracy, probabilities make it easier to see what is most likely given other factors, right?

 

Also when I say financial crunch, I define that as markets no longer functioning. I don't really see it as a Dollar vs Gold kind of thing, as everything has it's own characteristics and reasoning for movement in price. Yes there are correlations sometimes for the short term, but take those with a grain of salt imo.... 

 

 

I am not describing the logical implications of why gold is not desired given market failure for the distribution of outcomes, as those are my own ideas that I will not share lol. I give you my opinion, so take it for what ever you think it's worth.

 

Disclosure:

I am not positioned in anything at the moment, except DNNC...lol..

Well that's true, our technology may change and we may actually 'go green' sometime in the future to where our dependance on oil is a lot less. But idk how long down the road that will be or if it will even be at all.

I guess the best investment now is FSLR for the next 100 years. I'll start loading up on Monday 

Quote:

Originally Posted by o7media 

 

You mean like the financial collapse in 2008? Cash......

 

 

Gold fell about 30% in that crash while the USD gained.

You misunderstood me. I was talking financial collapse, not market collapse.

Let's say you were a multi-millionaire in Greece prior to all of this mess. You owned a million in Gold and a million in Greek currency. Right now, the gold would be worth more than the Greek currency.

Quote:

Originally Posted by LilCoonazz 

Guns, Ammo,Food and Medical supplies would be worth more than anything if things really got bad.. there wouldn`t be much use for gold.... what you gunna do, throw it at people tryin to rob you.. I tell people that buy physical gold that all the time and I get a blank look on there face.... deer in the headlights look 

well, yeah...don't bring gold to a gun fight...

London Stock Exchange closed on above dates (Mon/tues) re-opens on wednesday 6th june for those interested.

Quote:

Originally Posted by Jamesw 

Yea, I completely disagree.

Wasn't an agree / disagree question...."which would you rather have in a financial meltdown" was the question....

Quote:

Originally Posted by OldFart 

Wasn't an agree / disagree question...."which would you rather have in a financial meltdown" was the question....

No, you said "people will always want the shiny metal" ?... I was commenting, not answering..  ?

Quote:

Originally Posted by rst 


Definitely a lot cheaper now than in 2008! lol
What happened to FSLR?

FSLR is struggling due to heavy financial support for Chinese solar companies. China's solar industry is the largest in the world and gets state financial support. China is trying to manage its carbon footprint and has promised to not reach the highs of the USA. (Hard to see solar making a difference JMO)

Just as Chinese steel gets state support so does solar. US steel is struggling due to a cheap influx of Chinese steel and is the subject of a trade dispute. Solar is losing goverment funding in the USA and Europe (well being reduced alledgedly). A trade dispute has started with regard to solar but the outcome is not as hopeful as the steel dispute.

Quote:

Originally Posted by OldFart 

So you don't like gold at all? Lol

NOTICE FOR ANY HSM'ers...

Anyone that finds Gold to be a burden?  Mr. Oldfart and my goodself will happily relieve of that *burden*, we will happily collect for no charge if weight is over 1kg. For weights under 1kg there will be a disposal fee.

*terms and conditions apply, 24 ct gold only as we are fussy.

Quote:

Originally Posted by OldFart 

You misunderstood me. I was talking financial collapse, not market collapse.

 

Let's say you were a multi-millionaire in Greece prior to all of this mess. You owned a million in Gold and a million in Greek currency. Right now, the gold would be worth more than the Greek currency.

Well that's a hypothetical situation. For one I'm not in Greece, and also regardless of that even in a financial collapse Gold would still fall. Gold has been falling on all this Greece/Europe stuff.

Also America is not Greece and never will be lol