market blood bath today for the electric car companies.

We sound a lot alike. I'm just too chicken to buy another home. Real Estate (and the taxes that come with it, which are a lot since we have no state income tax) scares me. Maybe once I'm officially retired I'll think about it.

I feel that the state and local taxes I incur in Virginia are a good value considering our county has some of the best public schools in the country, parks and recreation, mass transit, and fairly good road system considering the amount of traffic and growth. It is the double taxation by the federal government on the state and local taxes that seems unfair. Also, the reason salaries and taxes are higher in more densely populated areas is because of supply and demand, not because the local government is squandering the tax revenue. Everything naturally costs more in an area when there is a high demand for the land, housing and employees (and thus higher local government employee salaries than a more rural area).

I wouldn't agree with that....not all the time.

Well, after buying Tesla 2 weeks ago at 340 and selling at 440 last week, I'm going to dip my toes back in. Here are the buys I'm scoping.

Progressively larger TSLA pickups at 400 (executed), 390 (executed) , 380 (soon!), 370, 360, 350, 340. I expect TSLA to bottom out at about 360 and turn upwards, but don't want to miss it.

OXY pickup if it drops under 10.

AAPL pickup if it drops under 100.

Purely speculative plays and for the record have the vast majority of my holdings in sensible mutual funds I don't mess with.

Yeah, I get that. We plan on moving probably in a few years to the beach in Florida so that made the decision to buy easier. My sister-in-law checks on our Florida place when we are not there. I don't know if we would keep the Virginia house or not if we move down there.

Agreed. I should have included the term "often" before "because of supply and demand".

I'm waiting for this pandemic wave 2 to strike. The hurt on the markets is far from over.

I'm hoping for the same - I bailed way to early on the last comeback

I should have listened to my gut and sold WKHS on Monday. Its in the low 20's now, down from 30ish...

Has anyone looked into IIPR, a REIT focusing on pot facilities? My gut tells me that anything to do with that industry is a gamble, but as it gets more widely legalized there must be an upside that might materialize in the future driving the price up.

Grabbed another 200 shares of MAC today for the long term

I sold off my house in a trendy expensive area and started renting after a divorce a few years back... didnt "have to" just felt the right thing to do.

Been renting ever since and don't regret it a bit.. nice to not have to care about maintenance etc.

At least where I am housing market is still strong and I couldnt see the point of throwing down on another house even though I looked.. maybe if housing tanks.

I live in a nicer house then I would probably buy and its worry free.....

If you dig into it this company looks horrible on paper.

It's gone up solely on wild speculation and could come down hard when people get skittish.

I own it , bought shares on 7/10 for $89.90
I have a lot of pot stocks, most of them have been on a tear recently - a few have really sucked but overall my basket is looking good.

They way I see it is, states revenue is way down this year - they are sitting on massive tax income from legalized pot - it's too tasty for them to refuse.
Just look at CO's Marijuana Tax Revenue
https://www.colorado.gov/pacific/revenue/colorado-marijuana-tax-data
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I hear you but on the other side the federal government is getting shorted with write offs from tax payers from states, counties and towns where folks have higher demands from local and state governments. Federal to the is broke also. But maybe you think Federal govt is not giving you good vale for their services and that is why you want more money to go to local? I agree but I feel we can’t have our cake and eat it too and short the federal govt with too much Local tax write offs because we choose the area where we live, house we bought and mortgage we chose to take on and wanting more services costs more. I feel $24,000 Cap is fair. And once again I was effected by Salt and it didn’t help me. I feel it did help mid to lower income folks. Just agree to disagree and that’s totally ok.

I feel there is too much deduction for dependents. Why should we be in the business of shorting the federal government (your words) for overpopulating? These types of disagreements on fairness could go on forever. I know we pay more than if we divorced and still lived like we are married. I have run the numbers. Double income and no kids is unfair in many ways but I would be happy with just the SALT deductions.

I'm not as familar with SALT as I should be, but isn't that a deduction for middle and upper class more than anything? I thought at some point the AMT kicks it all in the ass anyway.

Regardless, we're all in for higher taxes in the next few years....and honestly, I'm ok with that.

Yea this was pretty much a short term investment. I bought at 5.90 so I'm still good, but should have gone with the gut.. I got greedy and hoped for another monday lol.

Yes, I believe AMT would kick in for the upper class, but for the upper middle class it has mostly been eliminated in the tax code. I can’t remember the exact level that the AMT kicks in but it would be much higher than where I am in salary, taxes and interest paid.

Then we have too many babies which will raise global warming and fires and stuff and other problems from overpopulation or end the deductions and hurt families who need to the money to raise kids, But then some free college programs will come out and the county is broke anyway so more kids will break the system but less Kids is less future workers to pay taxes and on and on.....

Not saying I agree Or not with any of the above but That’s the never ending debate.
I hear you. Can’t please 330 million people. But we will always have taxes and always complain about them is my opinion.

If you make too much money, there's NO deduction for dependents. I hate rules like that... should be the same for everyone. Tax code needs to be simplified. And loopholes to avoid taxes should be closed. Ridiculous that large corporations can pay zero.

Flat tax across the board.
A lot of people would lose their jobs.

Dang this blew up

We will get some more clarity next Tuesday.

Embrace the volatility and fear.

Plug in any “in the ditch” stock chart and look at that June 8th spike, and ask yourself is it feasible to at least get back to that number on the vaccine announcement?

If so, buy it and wait. Panic, fear and the 24/7 anti Trump media can’t stand a possible solution before the election

Who is making the vaccine in record time? JNJ, Moderna, Astra etc. Trump isn’t mixing it up in the White House. Thankfully we have a record time effort with this public/private effort.

It’s coming folks and we having seen the movie. And you better understand the reality of it

If you think growth and tech is overvalued and there will be a rotation to value then you better choose wisely now

Barbell approach

The “destination” isn’t that far away

Smartest thing to do is to not get married, but live with your de facto spouse and kids. You bring home a good salary and she still gets to live for free of the government with Section 8, food stamps, and medicaid. Your salary plus government freebies is more lucrative than your salary alone if you were married. To me, THAT'S the true marriage penalty. No self-respecting person does this, but I see it all the time.

What are some good "in the ditch" stocks on your watchlist at the moment?

I grabbed APPL yesterday when it went below 110 now I'm rethinking that move.

Why? Are you day trading?

I’ll be buying for clients in am

Look at the charts!

If you have any common sense and know that a vaccine is coming because the health care companies tell us then there are a multitude of options!

People need to have some patience. Want to trade Tesla battery days or who is getting the vaccine first, can’t help
You

Gotta let THE STORY play out

DON’T take my advice if you are a day trader, anybody. Do your own due diligence and good luck

Think about it and use common sense. Try not to get caught up in the emotions of fear and greed

If a down day bothers you, then don’t own stocks

Sorry to be so blunt but you have to figure out what works for you long term

This trend began when Stocks were "Kissing" 29K. Evidently many sell orders began at 28.8K.
The question is what lower threshold is the goal before buying begins again?
Sell-offs are always subtle, until they are not.

Crack the code?

There aren’t many opportunities that come along frequently that present great reallocation opportunities

December of 2018 after Powell raised rates in October and ranked the markets

Trump was right. Powell reversed course and we made a TON on Apple, TTD, SHOP, etc etc etc first of Jan in 2019.

Apple got back to $140 per share then. Less than 2 yrs ago

Buy, hold, buy more when it goes on sale? Not a hard concept.

Then, Covid hit. What did you do? Sell out of fear and panic? If so, you lost out on one of the best opportunities in history

What’s next? You better be prepared to advantage again when it comes

Did the S&P 500 work? Nope. Better figure that one out

I like A LOT where the “our market” is after today

We keep making higher highs and higher lows

And if you aren’t doing that then it’s time to reassess

I don't have the capital hence my bet to hoard has much cash as possible until the crash shows up

But my stocks are way up since that kiss?

Wait, that doesn’t mean the S&P

Yet I don’t care

But that is what needs to be figured out?

If you don’t think long term with a short term appreciation of when opportunity knocks then you lose

GL

So many folks don’t want to believe in this concept.

That’s why they underperform every day Mike and basically have no chance

They fight the fed etc

Just clueless and won’t educate themselves

Can’t help that

I deployed a pretty good whack here today on AAPL, MSFt, RKT, AND SKYY. Not worried in the least. For those playing along at home, take a look at SKYY. Cloud ETF.

Hi Iceman,

I respect that you're basically the godfather of this thread.
But you speak of a vaccine like it's days or weeks away.
Really?
I am hearing more of a flu-shot, once-a-year scenario, at best. In the mean time, kids get sick or quarantined, and parents can't (or rightfully, won't) go to work.

What say ye?

I am socially very liberal but conservatively planning to have a Vaccine no earlier than 2022. Am I wrong?

Winston.

Here you go.........it's because of that sentiment right there, the fear and panic being stoked, is why I'm loading up.

I tell people, IF you believe that there will be no vaccine and the world won't be back to semi normal this time next year the ALL bets are off for my "in the ditch stocks".

I'm using some common sense, mixed in with what JNJ, Moderna, Astra and others are saying, not sure where you are getting your news, PLUS the fact that i believe it's all WAY overblown. Just my humble opinion. ::

That said, it might be a bit early again as it was back on JUNE 8th, but I'm driving into the ditch and picking some of these up NOW before, yes, the vaccine hits.

https://seekingalpha.com/news/3617255-cruise-line-sector-on-watch-after-barclays-turns-bullish

Now, i bought a lot more Apple today and PINS. And started buying CCL again.

$110 is my Apple buy zone, PINS is $34 but i couldn't resist and now i'm packing my bags for my scheduled CCL cruise next summer. Seriously.

Here's what i need everybody to do. Go to Seekingalpha.com, and start plugging in names like CCL, SPG, MAR, LUV, you name it, any beaten down "in the ditch stock".

Then look at the JUNE 8th spike on every single one see that spike, then look at the PRE COVID 52 week highs.

IF you can reason with yourself and conclude that JUST MAYBE, on the announcement of a vaccine that's coming SOON, then can that particular stock just simply get back to the JUNE 8th spike?

Go through the list, do that exercise, and then pick what YOU like, don't go by what i say. I'm just pointing out the potential strategy.

And again, it might be early, BUT you can't wait until after the VACCINE is announced folks.

Tick tock

Let me also say that those "in the ditch stocks" are just a trade for me and my clients.

NOT a day trade, but less than a year trade. I don't want to own these businesses long term. Do the math, do we need to get back to PRE COVID on some of those names to make a nice gain? Nope

I use OTHER options for my "bond alternatives".

Just a reminder from Buffett, "buy when others are fearful and there is blood in the streets"

We have a tale of MANY sub markets here don't we? THIS is why you can't just lay it up and buy the S&P 500!

CCL was 45 preCV and is now 14. IF it gets back to where it was, that's a 320% swing. It's a gamble, but.....

It's like doubling down on 11.

I'm just asking for $25 on CCL post memorial day excitement on the optimism of re-openings. And $95 on SPG

For the MAC updates.

https://www.fool.com/investing/2020/09/15/wall-street-is-underestimating-macerich-stock/

Don't buy or sell on MAC until you explore both opinions there.

There is a 51% short interest that will have to cover at some point.

It will require PATIENCE to let the story play itself out over the next 18 months or so.

It's just a trade on the downtrodden and unloved!!

I had thought about CCL..

A few months ago I would have thought noone would ever want to cruise again after this.

After some time of seeing how completely stupid and reckless most people are anyways I think they have a good shot of coming back.

Plus they are generally cheap vacations and money will be tighter for allot of people.

Cruises are all about getting loaded for allot of people and the lockdown has made countless numbers of new alcoholics too.

Bet big on MAC at $11. Sold at $7.50. You win some and you lose some. Made it back elsewhere. It does look cheap now but look back through history on this thread at how long MAC has looked like a good buy. Still may dip my toe back in.

With that said... I don't do this for a living like some others. Waiting for OXY to dip under $10.

I had the same sentiment and realized exactly the same thing. My bet is to buy these stocks exactly once the upcoming lockdown shows up and the people that have been holding on to these stocks panic.... 2 years from now tourism, travel and every company that survived the pandemic in the beat down sector will be making A SHIT LOAD of money.

Think holiday providers for people that want to go south. All the snowbirds in Canada are bitching that they can't go to Florida this season, and some are dumb enough to go even when insurance doesn't cover for Covid 19 related illnesses. Some are getting their cars towed down to Florida for them and they fly.

That should put things into perspective.

I'm buying boat cruises, airlines, trains, tourism industry.... People will PAY to take a getaway after this is all over. Which means another thing AIRBNB IPO. These guys will make an absolute KILLING once this is over. They have proven they can outlast storms because well, they don't need to invest in buildings to make their business model viable.

No, they are not living free because of the government, they are scumbags who are living free off the fellow tax payer.

If CCL goes down a bit more, I'll take a gamble on it - people love cruises so there's a long term upside that's real (IMHO). Got some MAC a while back too, I'm under water of course, so will probably lick my wounds unless it starts to show longer term potential. I also made a small bet on TDOC and IIPR, as always do your own study, but there's maybe something there...

I live in a tourist town and it went from being a ghost town to sort of back to normal over the last few weeks..

This is despite numbers and cases being more now around here than when everything was closed.

Seems like a few weeks back everyone just said fuck it if I get sick I get sick.

I would be the same way but being from NY I know a number of people who suffered through it and one person who has been a long hauler and has had it come back for months.

I dont need that shit so Im staying home even though I can walk to some pretty great bars and food...not worth getting crazy sick over.

Sigh... bought into OXY again at 10.23.

I think this is going to be a volitile week coming up. News on countries shutting back down and the debate Tuesday giving people a better idea of who will win in the U.S. election.

Plus baby boomers retiring in droves

I have a ton of older clients already booking trips with no concern

The sentiment is once I get that vaccine I’m jumping on a plane or boat and going somewhere

Anyone in MAC just watch that video!

Still could be early on these stocks but the focus away from Covid starts on NOV 4th and that vaccine

FYI, TTD got another upgrade and $580
Target.

Even though I'm not buying more, I will say for the record, apple to me seems like a great buy considering 5g Iphone. Market wants it. I'm holding just bc I don't want to invest more but if I'm someone with no apple I'm jumping in