The investment..speculation, out right gambling thread

Parent Cafe
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Ech…that’s probably why I’ve only started hearing about this a month ago</p>

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I was in the middle of reading a “mean professor” thread and it suddenly disappeared when I refreshed the screen. If there are no circuit breakers, the same thing may happen to my bitcoin…disappears into the dark pools of the internet. :rolleyes:</p>

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<p>RacinReaver, I like your post.</p>

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<p>Krlilies, how did you buy your bitcoin?</p>

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<p>I haven’t bought a BTC yet. I meant that if I buy a BTC it may go pfft into nothingness with no circuit breaker. But as per your link, we can buy it via Mt. Gox or this <a href=“https://btc-e.com/[/url]”>https://btc-e.com/&lt;/a&gt; I think.</p>

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<p>Ok…</p>

<p>I was going to use you as my guinea pig. :)</p>

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<p>Oh. Maybe RacinReaver will volunteer since BTC is now a bargain @ $179 compared to the $1K he mentioned.</p>

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<p>Lol…</p>

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<p>T, VZ.</p>

<p>Consistency.</p>

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<p>IBD says Uptrend Resumes.</p>

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<p>I don’t see BTC as the symbol for bitcoin. In fact, I can’t find the symbol at all.</p>

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<p>At my age I should probably be long t and vz. :)</p>

<p>[Hon</a> Hai first quarter sales down as iPhone disappoints - Independent.ie](<a href=“http://www.independent.ie/business/technology/hon-hai-first-quarter-sales-down-as-iphone-disappoints-29187900.html]Hon”>Hon Hai first quarter sales down as iPhone disappoints | Independent.ie)</p>

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<p>NJres, I didn’t forget about your calls. You are getting close.</p>

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<p>razorsharp, BTC is the “currency code” for bitcoin. For example,
price: 1 BTC/USD 154.983<br>
BTC 0.152694 USD 23.6649742</p>

<p>After the reading the links and watching the video provided by dstark, it really looks like BTC is backed by nothing. At least, with a beanie my dog can use it as a chew toy and a tulip can last for a few days in a vase.</p>

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<p>Krlilies, :).</p>

<p>On another subject, pc sales are declining pretty quickly…</p>

<p>And msft and intc are rallying? </p>

<p>Or they were rallying…</p>

<p>[IDC:</a> PC Sales in Steep Decline - Forbes](<a href=“http://www.forbes.com/sites/larrymagid/2013/04/10/idc-pc-sales-in-steep-decline/]IDC:”>IDC: PC Sales in Steep Decline)</p>

<p>And housing…</p>

<p><a href=“http://finance.yahoo.com/news/why-housing-affordability-risk-182945824.html[/url]”>http://finance.yahoo.com/news/why-housing-affordability-risk-182945824.html&lt;/a&gt;&lt;/p&gt;

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<p>so what’s the game plan now that the s&p, dow have hit all time highs and the nasdaq is at a near term high?</p>

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<p>Well… I sold the fb 4/20 26 puts today…</p>

<p>Sold the nke 4/20 55 puts…</p>

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<p>NKE looks great. Wish I had some. My DIA and TJX are doing fine though in slow-motion. HPQ and MSFT hammered today. GOOG and AAPL are giving back a little. I wonder what is holding up the $compq this morning. Maybe the retail sector? TJX reported nice YOY sales gains this morning - it’s like a broken record.</p>

<p>I have four letters on my desk. A NH return. A NH estimated payments letter. A MA return. And a Federal return. They go to the Post Office today and I’m done for stuff due April 15. I still have the FBAR to do - I thought that I was done but I’m going to add foreign social security and retirement accounts. There’s a lot of controversy on the web on whether or not this stuff needs to be reported but the general consensus is that it doesn’t hurt to report it, even if it doesn’t need to be reported.</p>

<p>There was a rather interesting news article out yesterday where the IRS states that it doesn’t need a warrant to read your emails. The argumentation is interesting - you can’t have an expectation of absolute privacy on email (I agree with that statement) so they don’t need a warrant to read your email (not sure I’d accept that). In practice, they will go to the ISP and request your emails. If the ISP says no, then the IRS gives up because the ISP can tie them up on this for quite some time. If the ISP says yes, then they have your emails. I think that government agencies that get warrants to read your emails or browsing histories are charged by the ISPs for the requests and the IRS might not even have the money to afford paying the service fees to ISPs.</p>

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<p>“I wonder what is holding up the $compq this morning.”</p>

<p>me too - that’s why I bought some more qqq calls</p>

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<p>That is a very interesting post BCEagle91. I think the IRS is a little out of line. There was an article in the recent edition of Time which stated that 8.6 percent of taxes owed are not paid illegally. Worldwide comparisons show that is not that high a number and there is fraud everywhere. It is part of the human condition. However, the amount of tax evasion is significant. Something like 380 billion a year. Politicians are trying to raise another
200 billion a year so we can see that the 380 billion is significant and taxpayers who don’t cheat much have to pick up the load from the frauders.</p>

<p>As far as nke goes… I have to sell a lot of puts to make a relatively small amount of money. For example, if I sell 100 nke puts that expire next week for .05, I net $400 in about 9 days. I am also at risk of owning 10,000 shares of nke at 55. If the stock dropped to 54 before expiration, I am out close to 10,000 dollars on paper…and maybe that becomes a real loss. I don’t want to mislead anybody. This is a low reward trade.</p>

<p>I was short the 155 calls in spy last week. I bought the calls in for a 2700 loss. If I didn’t do that, I would be down 40,000 or so today on that trade. I don’t always roll out of losing trades. Sometimes I just take the loss And move on …</p>

<p>Anyway, BCEagle91, I liked your post.</p>

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<p>If by some miracle I go in the money (SPY >= 160) I better remember to sell these calls because I don’t have $1.6mm in my IRA to exercise and buy the shares!</p>