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Thu, Apr 16, 2015 - 3:02pm KC
csquared13
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KC wrote: Spartacus, How

KC wrote:

Spartacus,

How about outlining exactly how it is done? Specific links would be nice. Are you speaking of redemption of lawful money under USC 411? If so, how is it presented on a tax return? How does one defend themselves when the IRS comes back with a frivolous filing penalty? Most of us pay through employer withholdings. Claiming exempt on a W9 is not possible. Yes, I’ve read extensively on it, but I don’t believe I could adequately defend myself against an IRS onslaught. All the legalese is cryptic to most of us. If you want to get others on board with this, then a presentation in simple terms with simple instructions would go the longest way. Hell, none of us want to fund the war machine that is the US govt. Yes, I did read through the lawful money forum and I will do so again.

Regards. KC

Honestly, i also read through that thread...or perhaps I should say skimmed to be fair. I saw lots of copy/pasting of US Code and other legalese, and lots of "hints and clues." I understand/respect the whole "teach a man to fish" concept, but still...for this particular topic and discussion, I agree with KC.

Regardless, it's not a task that I'd take on any time in the near future...far too many responsibilities and goals to meet right now. Also agree with P's issue with the misdemeanor/felony charges. If you did beat them, kudos to you, but every man must pick his battles, and this one just ain't worth it for me.

Here's the way I see it..and keep in mind I turn 30 this year:

I'd rather bust my ass for the next 10 years, and apply the knowledge I've gained here to hopefully make enough cashiola to retire by 40. (maybe I'm being overly ambitious?)

I think it's highly unlikely that I'll reach that goal if I pick a fight with Uncle Sam.

“Everybody gets what they want out of the market.” -Ed Seykota
Thu, Apr 16, 2015 - 3:22pm
Alonzo Jazzberry
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@cquared - that's an excellent way of looking at it

Here's the way I see it..and keep in mind I turn 30 this year:

I'd rather bust my ass for the next 10 years, and apply the knowledge I've gained here to hopefully make enough cashiola to retire by 40. (maybe I'm being overly ambitious?)

I think it's highly unlikely that I'll reach that goal if I pick a fight with Uncle Sam.

Well put. If you are in position to be annoyed by the amount of taxes you pay, you are likely also in position to be making enough money to get on the fastlane to retirement, and there is absolutely no way it's worth risking your freedom with this silly tax dodging stuff. I just turned 33, been working since 24, and am technically already in position to retire right now. Granted, that's because I was fortunate to be able to go all in to a market that had just crashed 50% right around the time I started being able to invest serious money, but no matter where we are in a market cycle we are young enough to be basically guaranteed some mind-blowing compounding growth over the years.

That is, unless you lock up all your money in lumps of metal ;)

You want a tax dodge? Try a ROTH IRA. You only get to put in $5k a year, but you pay nothing on your gains when you take it out.

Thu, Apr 16, 2015 - 4:36pm csquared13
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fffck workin' for the man :)

csquared13 wrote:

I'd rather bust my ass for the next 10 years, and apply the knowledge I've gained here to hopefully make enough cashiola to retire by 40. (maybe I'm being overly ambitious?)

I think it's highly unlikely that I'll reach that goal if I pick a fight with Uncle Sam.

Alonzo Jazzberry wrote:

I just turned 33, been working since 24, and am technically already in position to retire right now.

You boys are doin' just fine in my book :)

But be sure you want to retire! When I talk up my story, keep in mind I was doing a job/career I hated (which I only now years later realize was a horrible fit for my skills and interests) and got no deeper satisfaction from other than a fairly nice paycheck. While I retired from that, it wasn't to retire per se but try out my dream instead (with enough cushion to be really wrong for a while and still be able to back-paddle if needed!) That's how I turned nights/weekends art dealer into full-time art dealer (income-wise) while only (realistically) putting in five to ten hours (if that, heh) of real 'workity-work' a week not counting the endless (24/7) attention I give the thing as a hobby interest (for lack of a better descriptor). I mean it's a total fit for skills and interests (and gosh...love!) It's hardly work at all (except tax season grrrr). If you like what you're doing, where you're going, no need to drop it just cuz you can, cuz you're buried in bucks...that's just money, don't trade out of the thing that's working nicely, makes you happy, unless you have something even better to take a chance on -and you can't do both at the same time!

The Peanut-Farmer years were brought up recently. I was there too. Maybe this time it's real? Maybe not.

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Thu, Apr 16, 2015 - 5:18pm pailin
Alonzo Jazzberry
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@pailin

pailin wrote:

But be sure you want to retire!

Yeah, that is a concern. I actually do enjoy my line of work, so I'll probably just try to find something in the field closer to my hobbies that also lets me work part time. I assume I'll be able to find something as long as I'm not picky about top-tier pay rate.

pailin wrote:

The Peanut-Farmer years were brought up recently. I was there too. Maybe this time it's real? Maybe not.

Wow, you had quite an interesting upbringing! Solipsism is about as fundamental a human trait as there is. We all have an inherent urge to believe that our 80-odd years on this earth is where the action is - that's what puts people on street corners with 'the end is nigh' signs. It is only through great effort that we can wrap our heads around the thousands of years of civilization that preceded us and that will almost certainly follow.

And for all those thousands of years, there will be three financial truths that hold on the time scale of decades: (1) fiat currencies will depreciate, (2) hard assets will tread water, and (3) capital will appreciate. This place does a good job of curing the ignorance that keeps people in (1), but unfortunately it seems like it does way too much of fostering the fear that pushes them into (2).

Sat, Apr 18, 2015 - 8:49am
pailin
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liquidity shock

So what are people here thinking/planning re: this -

IMF tells regulators to brace for global 'liquidity shock'

Telegraph.co.uk‎ - 3 days ago

An illusion of liquidity has beguiled financial markets across the world and spawned some of ...

What I'm doing:

  1. Reducing/eliminating use and dependence on lines of credit to operate my business (personal finances have always been 100% liquid, cash and carry). My assumption here is that most/all unused lines can/will be eliminated and lines with balances can/will have lines decreased to the balance. Already been through this once before, no prior notice given by banks; this is what happened in 2008-09.
  2. Rolling/condensing all present 0% promotional balances out to new and farther out 0% promotional terms (have several this way, promotional rates not due to expire for months yet, but better six months early than one day late :) I do not carry balances that bear interest, but if you do...do a risk/reward (especially if variable rate) and pay off, if possible? My risk/reward analysis is taking on new inventory and holding old inventory back for higher prices vs. reduced/zero credit liquidity and possible rate shocks to come. All this against the same assumption in point 1.
  3. Hoarding cash and other tangibles (in hand). Nothing more than monthly electronic needs in the banks. Assumption is if the banks are starving, make it hard for them to feed on your assets!
  4. All business activity is now tightly wound and strategic, no more fantasies of making a few percent points someday over the rainbow being a good risk in a perpetual ZIRP environment. We're now moving toward NIRP globally, if not in the US much (yet), so ZIRP thinking may be out of date and further useless if asset price deflation moves even faster than rate deflation. Assumption is cash (in hand) may trump tangibles in this scenario. This (may) include (pseudo) monetary metals!
  5. Borrowing maximum from 401(k) sources and holding in cash (in hand). This is the only way to pull qualified retirement assets out of the system pre-59 1/2 without triggering penalties, and the only way to not trigger tax consequences. Most plans only let you borrow half anyway (so it's an automatic 50% haircut even if everything goes kerrfckers :) but ask Greeks and Polish if they wish they'd done this! Half is better than zero. Assumption here is any/all hard cash (in hand) trumps statements or screens with numbers on them, especially if redemption/trading rules can/will change at any time.

That's enough of me (for now).

Anybody else taking IMF and other 'tightening' data points seriously, taking actions? Please share.

As always, I don't know it all and am open to new ideas and ways of looking at things. Let's start the dialog now, well before 2015.75 (and summer low for silver :)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Sat, Apr 18, 2015 - 12:24pm pailin
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pailin wrote: ..... Anybody

pailin wrote:

..... Anybody else taking IMF and other 'tightening' data points seriously, taking actions? Please share.

As always, I don't know it all and am open to new ideas and ways of looking at things. Let's start the dialog now, well before 2015.75 (and summer low for silver :)

You're not along in getting the tingly bearish sensation Pailin

On Friday I spoke (not in TFMR) about a reduction of liquidity flowing into stocks and a possible 1 year bearish swing getting started, the main and first portion of which could lead to a low in 6 months, early Q4 this year. I haven't finessed anything out yet, but did hedge my stock and bond longs approx 2 months ago.

I appreciate your observations about credit tightening and avoiding getting caught out during consequent events.

argentus maximus Rhythm and Price http://www.greenhobbymodel.com/rhythmnprice.html This analysis - global markets
Sun, Apr 19, 2015 - 12:06pm
csquared13
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Great post and something I

Great post and something I still try to keep in the back of my head..I don't want to be too dedicated to equities..nothing is guaranteed right? Always gotta have dry powder for any type of emergency.."endurance" / staying liquid so i'm preparing myself to cut anything that's not a core "retirement" position, like Gazprom and get cash-in-hand.

Also been unloading sneakers this weekend, average P/L has dropped to 9.83% and only been dabbling in this since Dec roughly.

Quickly paying down the light balances that I carry on CC's. I intend to be ready for summer lows or whatever this years brings us..if it does indeed bring us something.

And here's a sweet trade I'm sharing with everyone that I closed Friday. Been building a hedge/short position for AMD longs using the Apr 17 $3 Puts.

First tranch bought @ Jan swing high, second @ Feb swing high, final tranch Thursday 4/16 since ER was after market close. My chart, which I can't share sorry showed me strong overhead resistance on the Weekly. Trusted the chart and action on adding that final tranche.

Friday the stock sells off pretty deep and the puts pop 140% at one point when I quickly sold them all.

Moral of the story is trust your system. My guts were in line with it too since this dog tends to sell-off at ER's. (dont ask me why i'm long that's a whole 'nother story..still somewhat of a degenerate gambler i guess )

“Everybody gets what they want out of the market.” -Ed Seykota
Sun, Apr 19, 2015 - 1:03pm
tonym9
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P: Art question for

P: Art question for u....Curtis Wilson Cost on Maui. Supposed to be world renown. Has a gallery here and is online costgallery.com

natural land/sea scapes

pricey but amazing works

thoughts?

"No! Try not. Do, or do not. There is no try." -Yoda Levitation will levitate until levitation doesn't levitate. Rates be the key matey.
Sun, Apr 19, 2015 - 2:19pm tonym9
pailin
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Curtis Wilson Cost

tonym9 wrote:

P: Art question for u....Curtis Wilson Cost on Maui. Supposed to be world renown. Has a gallery here and is online costgallery.com

natural land/sea scapes

pricey but amazing works

thoughts?

Okay, unvarnished truth (opinion, of course)...that website really has the stink of Thomas Kinkade "system" all over it. Which has nothing to do with the original paintings and sketches (very nice, I like them in the abstract), but everything to do with the marketing and anticipated collector base. What I mean is they're all set up to sell to stupid all day, every day, 'till the sun stops coming up in the morning. You don't want to be that sucker. Even if you talk to them in a way that lets them know you're not stupid, they simply won't sell 'straight' to you, it's all sucker game or no game at all.

I'd say it's impossible to work with this artist in any legitimate sense, from a real collector's pov. Assuming he (and the other Costs) are regular, nice folks (and maybe that's a really big assumption too!), his "people" are not. And you'll never get past them. (Which is what you'd have to do, to get to the artist and buy an actual original at a fair price.) They're in the same game the Fed is...sell you fiat the same as if it's metal-backed. All those overpriced (very much so) canvas blah blah options all over the site...gimme a break. Scam. Same as Kinkade. They are very, very expensive prints, open edition and attract zero real art collector interest (and thus zero potential to make a return on down the road, you'd have to fight to get your money back even, even :)

With sixty minutes quick research, I could name you 500 artists with 100x the potential for return (vs Cost, Kinkade, et al ilk), originals priced at 5k and under today, and just as nice to live with while you're waiting for your payday to come in. The art world is very big. There is no excuse to ever fall for slick used car marketing, unless you just don't know better or really, really, (REALLY!!) like the image and have to have it faked out as a "print" on canvas (because the actual canvas is already sold or intentionally unavailable to create false supply scarcity.)

Finally, all the above aside...'good' landscape painters are a dime a dozen. No matter what, you need to have a very good reason to pay more than $1000 for a nice large vintage landscape (and less for decent, small, and/or contemporary), there needs to be a story that goes with, a personal connection to the artist, something like that. Things you can leverage at re-sale to the next (potential) owner. Because when it's time to sell, your piece is otherwise competing with thousands of other equally nice and less expensive landscapes out there, all with no story or whatever, but attractive and...cheaper. This goes to what I've written before here - when you buy art (or any 'collectible' for that matter!), you need to have a pretty good to very good idea of who you'll be selling to down the road, and at what price too...having a good idea of that tells you how much to pay today.

This Cost fellow, absent public auction records that give comps (and validate independent of what the dealers would say, that there ARE moneyed collectors of his work), I wouldn't pay more than $350-$500 for a canvas and $150 for a larger sketch. (Very important -- that's for ORIGINALS not prints!!) That what I or anybody would pay for nice general decorative art with no story or other attachment. And that's about what you'd expect to get back out too down the road.

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Sun, Apr 19, 2015 - 4:28pm
tonym9
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...and that's why you ask

...and that's why you ask when you don't know. thanks P, hit all the questions I had. also thanks for the silver level congrats lol.

My wife and I have had an amazing celebration so far. A week in Oahu at Turtle Bay. Now a week in Maui at The Sheraton. Bookended by weekends in Vegas for stop overs since my wife can't do 9-10 hours in a row in a plane. No distractions, totally focused on each other. Investing in things that matter...

interesting discussions to see here in a weekish or so since I last checked in. Good reading sitting on the beach listening to the gentle waves of Blackrock

"No! Try not. Do, or do not. There is no try." -Yoda Levitation will levitate until levitation doesn't levitate. Rates be the key matey.
Wed, Apr 22, 2015 - 11:20am
pailin
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shorting silver

So this year's seasonal short 'peak' wasn't attractive enough to pull me in. Not even $17.50 and a joke compared to $18.50 of late January. Bah! I think we're all down from here into mid-summer. Watch 15.28. When that breaks you've got a lower low on daily and there should be a pile-on effect, stops getting blown and new greedy short tagalongs. That's when you begin paying attention for a bottom to form, volume to drop, and you can make your bullion buy, or at least I will be :) This may be the last really good summer buy, 2015.75 is right around the corner. Can we see 12-handle or maybe even single digits? Oh one can dream :) :)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Sun, Apr 26, 2015 - 4:50pm
Scarecrow
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Bucket Shop Traders' Nightmare!

Been wondering about this for a while...

https://www.telegraph.co.uk/finance/personalfinance/investing/11562202/How-370-investors-lost-18m-in-minutes.html

A pretty serious reminder of why you should pay up for guaranteed stops!

GLTA!!!

Don't be a bagholder, be a bug! ; )

-The Lost Generation

Sun, Apr 26, 2015 - 7:07pm Scarecrow
pailin
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JustAnotherLemming wrote: A

JustAnotherLemming wrote:

A pretty serious reminder of why you should pay up for guaranteed stops!

GLTA!!!

Another way to 'guarantee' a stop is to hedge opposite in a different market (for instance long or short in forex, and the reverse in options). Now of the whole system (as in the WHOLE system :) collapses...none of that matters, but otherwise you're actually diversifying your counter-party risk too!

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Mon, Apr 27, 2015 - 8:06am
Scarecrow
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A few more articles...

https://www.forexcrunch.com/snbomb-reactions-from-10-forex-brokers/

(This should read 75 brokers)

https://www.forexcrunch.com/fxcm-to-forgive-most-clients-with-negative-balances-more-to-follow/

(FXCM went bust and got bailed out to the tune of $300M)

And here's the kicker...

https://news.forexlive.com/!/eurchf-saxo-bank-revise-swiss-franc-trades-clients-16-january-2015-20150116

(Not sure how many others also did this.)

Heads they win, tails you lose!

Don't be a bagholder, be a bug! ; )

-The Lost Generation

Mon, Apr 27, 2015 - 3:05pm
pailin
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for csquared13

If you're still digging East of West...

We Are Felix Comic Art (ECCC 2015)
To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Tue, Apr 28, 2015 - 10:06am pailin
csquared13
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yeah i'm still diggin it!

yeah i'm still diggin it! thanks P!

“Everybody gets what they want out of the market.” -Ed Seykota
Tue, Apr 28, 2015 - 6:16pm
csquared13
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Added to TWTR long in Roth

Added to TWTR long in Roth IRA acct today. DYODD. Sold off strong on today's "earnings leak."

Nibbled in my trading acct and may put on another long tranche tomorrow.

“Everybody gets what they want out of the market.” -Ed Seykota
Wed, Apr 29, 2015 - 9:30am
pailin
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month end

Gee whiz, month end anyone?? Be careful out there...they're running everything UP, soon to be followed by DOWN :)

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Wed, Apr 29, 2015 - 9:38am
csquared13
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In for more TWTR @ $40

In for more TWTR @ $40 (trading acct)

“Everybody gets what they want out of the market.” -Ed Seykota
Wed, Apr 29, 2015 - 10:47am
Scarecrow
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Lemmings Short EUR/USD @1.1140 (spreadbet!)

Guaranteed Stop... Check!

Overhead Limit... Check!

Half decent plan/strategy... Well you can't have everything!

Could go horribly wrong...

GLTA!!!

Don't be a bagholder, be a bug! ; )

-The Lost Generation

randomness