Yeah, I often have those daydreams.
When the market tanks like this, I measure my losses in how many exotic Italian sportscars I could have bought instead...
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Best Stocks to day trade in this crash?
- Thread starter -Maverick-
- Start date
Yeah, I often have those daydreams.
When the market tanks like this, I measure my losses in how many exotic Italian sportscars I could have bought instead...
I'm not sure daytrading for mere mortals right now is a clever game. Fun , but pretty risky. I think real daytraders are a special breed of person and LOTS of people have a go at it, often with less than great results. The market is just too Kooky for me right now.
If I was going to day trade I would use the same strategy as I use at horse races. Set aside gambling money and never exceed that amount. When it's gone I quit. If I win I can continue. If I win a lot I return my original stake to the do-not-touch wallet and keep playing with my winnings. If that happens I can't come home a loser (Money wise anyway)
Yeah, I often have those daydreams.
When the market tanks like this, I measure my losses in how many exotic Italian sportscars I could have bought instead...
For me boat length multiplied by $ per foot.
John Doe would be smart to dump the stocks, take advantage of the tax loss, then buy back the stocks he just dumped.
He’ll still get the advantage of the eventual upswing in the market, which, lets be realistic, the market will recover. He will also take advantage of having a massive loss on paper which will save him 10’s of thousands of dollars in taxes.
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Careful as that won't work INSIDE your RRSP. Yeah, outside your RRSP you can offset your capital losses against any gains (if any) but inside the RRSP nothing happens tax-wise until you withdraw at retirement.
Does that make sense? You bought for 100, sold for 70 triggering a loss to be applied against future capital gains and then re bought. When you eventually cash out for good at 200 you are now taxed on 130 instead of 100 if you hadnt triggered the loss. It can make sense if you are triggering a corresponding gain in the near term as that gets you tax deferral, but if you are just triggering losses, I dont see how it helps.
Are they public? I thought most were private companies.
I bought about 50 shares when it was at $90 and have been playing the dips with it ever since.
By far the best move I’ve ever made.
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I owned it in the $30s and sold it off for a very small profit because it was "not performing up to my expectations"... such is life.
CTC-A.TO
enjoy.
-Maverick-
Well-known member
I was looking at this the other day when it was up a few bucks...their stores are closed, their stock goes up?! Only Canadian Tire can pull this off.
The guy formerly known as Mladin.
Be careful ... if you want to book a tax loss, you have to stay out of the stock in question for 30 days to avoid Revenue Canada potentially applying a "superficial loss" rule.
There's nothing stopping you from selling BMO and buying BNS, though (or substitute any other bank). Or selling Rogers and buying Telus.
Was $22. Took $40 out today.
Flutter Ent buys Stars.
.22 Flutter (LSE) shares for 1 every 1 Stars (TSX) shares.
I don't know what to do with mine. Deal closes early next week!
What does gtam suggest?
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