Skip to comments.Party of the Little Guy? Why Wall Street shamelessly favors Joe Biden.
Posted on 09/24/2020 2:59:06 PM PDT by Vigilanteman
Just sharing this with you because it is something I need to learn how to do more often. and more importantly, do it. If you don't have an account with Schwab or other zero commission broker, you need to get one.
The pattern is basically this:
(1) Watch a few (probably no more than 3 dozen) stocks which (a)trade a lot, (b)have some strong swings, (c)are basically good investments.
(2) When news happens which causes a unusual swing (40% in this case, 5% in a more typical case), take the opposite position as the market because such swings are almost always overreaction and the market corrects. I wish it wouldn't correct in a single day like it did here, because I can only do two of these per week. Do it after 10 am because the pros say the day's pattern is established in the first 30 minutes and you will mitigate your risk.
(3) Don't get greedy, take your profit and pay your tithe immediately on the profit in hopes the Lord will bless you with more such opportunities. This fluctuation was $2510.40 - $2410.80 = $99.60 from which I must pay 6 cents in taxes on the sale and $9.95 in tithing leaving me with $89.59 in profit (I'll have to pay capital gains on that next year of 11%) so $80.71 net or 3.2% for the day/1157% annualized. Cut that down by a factor of 10 (which is more typical) and you still get 0.32% for the day/115.7% annually.
Now, had I been able to time the market perfectly, it would have been $22.14 high minus $19.10 low or $3.04 gross profit x 120 shares = $304 minus 7 cents in taxes minus $36.46 in tithing minus 11% capital gains taxes next year or net $328.58 on the transaction. But that is theoretical and the $80.71 is real and within the 25% range which is realistic.
Now get this, the reason government rules don't let you do this more than twice a week is because you will be declared a pattern day trader. Pattern day traders have to have $25,000 or more in their account. And me, being a poor schlub, only had about $8,000 in this particular account, so it is "too risky" and the government must "protect" me. But my real risk was less than a day and had I gone into panic mode and bought to cover at the day's high, I could have lost up to $146.46 if I had been unlucky enough to pick to exact 30 seconds or less.
So who is really protecting whom? The government is protecting big investors who can manipulate prices (at least somewhat) from small investors who can't. And now you know why Schwab (and maybe a handful of others) are the only firms on Wall Street NOT giving money to Joe Biden. There is a reason that he was once known as the Senator from MBNA (a giant Delaware based bank which has since been acquired by Bank of America).
Feel free to share this, especially with anybody who thinks the national Democrat party is for the little guy.
Only he wanted it to close the following day, due to the pattern day trading rule. I've tried stuff like this before (maybe less dramatic) but have to go for a bigger range because I don't want to be penalized as a pattern day trader either.
Sometimes, I like to short sell something I hold in another account so I can transfer it over if things go south. But if you do that frequently, I learned today it is considered a "boxed position" which is considered risky.
So I asked the broker why because a covered put is far LESS risky than a naked put and he told me that is what they are required to say.
They aimed at crashing the market by screwing around with the Dow index. Watching it each day makes that clear. They will fail as all other plots against us have. They are running out of days to get that done and the coming huge GDP number just about ends that plot so the fools on Wall Street will come up with a mouth full of ashes.
Your BIL is a fool and will get crushed.
1) Firms often donate to Democrats in the hopes that they wont put them out of business if they get elected.
2) Good luck to you with your gambling with stocks. Investing its not.
If Joe Biden were a Republican, and Republicans were trying
to pull what the Communist Democrats are, does anyone here
think the MSM would agree to be a party to it?
If the Republicans planned to set up an anonymous normal right
wing group to make decisions for our Biden behind the scenes,
one that didn’t even plan to overturn the present Constitution,
would they think it a reasoned adherence to the Constitution
of the United States, or would they demand Article 25 be put
The Communists in our midst are poised to set up a blind
politburo behind Biden. We won’t know who is in it. We
won’t know their past. We won’t know what infractions
the members of this group could have committed. We won’t
know if they are felons, former terrorists, actively
trying to take down the present form of government
we have. There would be no review. Everything would be
done out of sight by people hidden from our view, or
Who knows what Biden really thinks about this? Is Biden doing
any actually thinking these days? He can’t stay on topic
for long enough to voice a coherent sentence.
His wife speaks up for him, while his head is wobbling
and his eyes are rolling... ah you know. (Two can play
that game Joe)
Then you get these public entities who seemingly think
this is the best to come down the pike since sliced
What the hell?
Wall Street prefers Biden because Trump is not for sale.
We all know Biden is a whore, the only negotiation with him is the price.
Probably not too far off target with that...
YES! thank you for mentioning it!! I too noticed it!! They will crash the SM slowllyyyy!! Next month will be a blood bath! I noticed that ever since Trump tweeted arent you glad I am your president when the market rebounded back to 29,000! From there on the market started tanking little by little! Bastards got pissed off and started the slow procession of tanking the market!!
I used to work at MBNA.
BoA bought them for 35.5 billion dollars.
They will fail as all other plots against us have.
It’s just amazing, isn’t it?
So much energy put into schemes that boomerang against them.
So much hatred and so many threats.
They could have kept a good grift going by at least pretending to GAF, but for some reason, they didn’t even try.
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