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Post by cretin11 on Nov 12, 2015 4:11:06 GMT -5
@kastanes , You deserve the MNKD Common Sense Nobel Prize for "Mentally Prepare yourself for $2" -- great call. I recall the firestorm that thread created. As an put option trader, the willingness of some to give me nearly a dollar for $2 puts was flashing sub $2. Thanks kastanes. Curious if you think the same holds true now, i.e. we can fetch around a dollar for Jan '17 $2 puts. Kinda scares me but still hard to resist selling those (and how about the $1.50 put premiums for that matter).
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Post by Deleted on Nov 12, 2015 5:32:32 GMT -5
I recall the firestorm that thread created. As an put option trader, the willingness of some to give me nearly a dollar for $2 puts was flashing sub $2. Thanks kastanes. Curious if you think the same holds true now, i.e. we can fetch around a dollar for Jan '17 $2 puts. Kinda scares me but still hard to resist selling those (and how about the $1.50 put premiums for that matter). Time will tell; with increased Afrezza sales and hopefully a Technospere announcement should cause option put premiums to decrease. With the additional cash raised sufficient into 2017, I hope the outlook brightens.
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Post by novafett on Nov 12, 2015 9:54:51 GMT -5
Funny you mention that.. SODA was my first battle ground stock and I learned a lot about FUD from it. I ended up finally getting out of that stock after several years and never turned a profit but got a good education on it. You did, and you're in MNKD? I think, um.. i hope, i got out of SODA before getting into MNKD. Only allowing myself one risky 'play time' stock at a time in my portfolio.
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Post by mikec on Nov 12, 2015 10:06:09 GMT -5
I'm still furious about what happened yesterday. The Globe story proved to be entirely wrong, yet looked extremely plausible. It caused havoc. I sold about half of my position, and didn't re-enter. I'm considering trying to buy those shares back if the price drops again. I've been buy-and-hold all my life so this is new to me. I've called my tax accountant to ask about wash sales, but can anyone tell me, do you incur a penalty by buying shares back within 30 days? I've read here and there on the Internet, but I'm trying to figure out if the wash sale rule imposes a big loss or a minor and tolerable loss.
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Post by patryn on Nov 12, 2015 13:01:31 GMT -5
I'm still furious about what happened yesterday. The Globe story proved to be entirely wrong, yet looked extremely plausible. It caused havoc. I sold about half of my position, and didn't re-enter. I'm considering trying to buy those shares back if the price drops again. I've been buy-and-hold all my life so this is new to me. I've called my tax accountant to ask about wash sales, but can anyone tell me, do you incur a penalty by buying shares back within 30 days? I've read here and there on the Internet, but I'm trying to figure out if the wash sale rule imposes a big loss or a minor and tolerable loss. You should speak to your accountant. No one here can give you the exact financial advice you would need for your situation, especially given that we don't know what your actual realized loss was and whether it was a long term or short term loss. It also matters exactly which tax lot was sold since you said only half your position was sold (unless you bought all the shares at exactly the same time). In general though, if you sold shares for a loss and buy back within 30 days you will not be able to take those losses on your taxes to offset any accompanying capital gains you might have.
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Post by bighouseofi on Nov 12, 2015 13:15:09 GMT -5
not gonna lie, here. consider it a confession. I have/had/have a large stake. i keep quiet and read about the company. I have been unaffected until yesterday, when i saw the fake info come out, then the price whither, then you came out and said it looked legit. I didn't do the hebrew translating, my mistake, but have read your posts and articles and figured it was the last thing i needed to see. I envisioned the price plummeting into the pennies, and figured i would at least protect a little of the cash. I figured that if the price corrected, I would enter again, which i did after the pop this morning. At first i beat myself up for missing the 50 cent pop that i could have used. This is all with me loaning shares at 40 percent. Well, I am back with a large holding, and feel ok about my decision, as I cannot live in the future. and it turns out i didn't cancel out the 40 percent rate as the loaned agreement is an umbrella and doesn't go away on the sell.
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Post by patryn on Nov 12, 2015 13:20:00 GMT -5
not gonna lie, here. consider it a confession. I have/had/have a large stake. i keep quiet and read about the company. I have been unaffected until yesterday, when i saw the fake info come out, then the price whither, then you came out and said it looked legit. I didn't do the hebrew translating, my mistake, but have read your posts and articles and figured it was the last thing i needed to see. I envisioned the price plummeting into the pennies, and figured i would at least protect a little of the cash. I figured that if the price corrected, I would enter again, which i did after the pop this morning. At first i beat myself up for missing the 50 cent pop that i could have used. This is all with me loaning shares at 40 percent. Well, I am back with a large holding, and feel ok about my decision, as I cannot live in the future. and it turns out i didn't cancel out the 40 percent rate as the loaned agreement is an umbrella and doesn't go away on the sell. Just based on what you wrote, that emotional kneejerk sell and rebuy was possibly a six figure mistake. I'm glad that you have the financial strength to withstand that, but it was an expensive lesson nonetheless.
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Post by bighouseofi on Nov 12, 2015 13:23:07 GMT -5
not six figures, but a lot.
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Post by suebeeee1 on Nov 12, 2015 13:24:40 GMT -5
not gonna lie, here. consider it a confession. I have/had/have a large stake. i keep quiet and read about the company. I have been unaffected until yesterday, when i saw the fake info come out, then the price whither, then you came out and said it looked legit. I didn't do the hebrew translating, my mistake, but have read your posts and articles and figured it was the last thing i needed to see. I envisioned the price plummeting into the pennies, and figured i would at least protect a little of the cash. I figured that if the price corrected, I would enter again, which i did after the pop this morning. At first i beat myself up for missing the 50 cent pop that i could have used. This is all with me loaning shares at 40 percent. Well, I am back with a large holding, and feel ok about my decision, as I cannot live in the future. and it turns out i didn't cancel out the 40 percent rate as the loaned agreement is an umbrella and doesn't go away on the sell. If you would like to keep from the kinds of action we had yesterday, I suggest that you NOT loan out shares. The higher the short percentage, the higher the potential for this kind of nonesense. If there is limited short interest, there will be limited need for shorts to perpetrate this kind of charade.
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Post by ezrasfund on Nov 12, 2015 13:27:15 GMT -5
This thread is a perfect example of Daniel Kahneman's thesis in "Thinking, Fast and Slow." We have two ways of thinking; the intuitive, gut reaction, and the carefully considered, reasoned decision. The rational mind thinks it is in charge, but that is an illusion that the intuitive mind allows, until a critical moment occurs.
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Post by bighouseofi on Nov 12, 2015 13:28:17 GMT -5
I absolutely hear you on that, and have considered it, but I know I am not even a drop in the bucket. If there was some magical way to get all of the people loaning shares to get together and make this decision as one, then it makes sense. As much as I hear you, until that moment occurs, not gonna do it.
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Post by mssciguy on Nov 12, 2015 13:28:12 GMT -5
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Post by mssciguy on Nov 12, 2015 13:30:37 GMT -5
This thread is a perfect example of Daniel Kahneman's thesis in "Thinking, Fast and Slow." We have two ways of thinking; the intuitive, gut reaction, and the carefully considered, reasoned decision. The rational mind thinks it is in charge, but that is an illusion that the intuitive mind allows, until a critical moment occurs. Yup, knee-jerk, instinctive reactions vs. "Sleeping on it" for important decisions. Wittgenstein commented that most of us basically sleepwalk through life. Feuerstein sure does (and it shows).
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Post by blindhog1 on Nov 12, 2015 13:34:57 GMT -5
That's sweet. I wonder how Jay's feeling today. Maybe he'll try harder next CC.
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Post by bighouseofi on Nov 12, 2015 13:36:22 GMT -5
As far as the sleeping on it vs. instinctive, i sat and chilled for a long time with the thought that i would leave things alone through a buck seventy five, at which point i would protect what was left. suffice to say, i am not new with this company. So, I actually feel that i followed my own advice. Some will go down with the boat, others try to make a raft out of a plank and swim to shore even though the water is filled with sharks.
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