Anybody Buying Yet? Where’s the Bottom?

[antelopedundee]

$80 billion budget increase will likely make the IRS do their job more efficiently and act less corrupt. Couldn't think of a better way to increase productivity.

IIRC that's over a 10 year span, not just one year.

 

[antelopedundee]

I was reading this article about Apple stock.

Is Apple Stock A Buy After December-Quarter Earnings And Vision Pro Launch?

Apple stock has been an American success story several times over with the Mac, iPod, iPhone and other inventions. But is AAPL stock a buy?

www.investors.com

Then there's this statement.

Is Apple Stock A Buy Right Now?​

Apple stock is not a buy right now. It is trading well below its official buy point. However, it could form a new base with the larger consolidation.

Seems like dumb statement if the idea is to buy as low as possible.

 

[Sytes]

This was posted earlier though figured worth another share... same thread as well...

The "87,000 IRS Agents" is Republican b.s.

There are 2,000 Special Agents and with the amount of white-collar fraud, we need more. Our SA's are overworked.
We have a bit under 10k "Agents" who audit the other 300 million US taxpayer individual, joint, and small business filings, every year.

The others are employees of the Agency from HR to seasonal phone assistance for the main tax season.

The funds sought are for for the next 10 years to offset retirement of the IRS workforce.

It's small potatoes when figuring how frequent criminals attempt to falsify even the simple 1040EZ.
The complexity of law firms working for big boy/girl Republican and Democrats to rip off all the law abiding Americans of their hard earned tax $ take detail oriented Special Agents to make stick extremely complex cases through tons of of b.s., drawn out litigation, etc all due to those R and D big $$$ law firms paid mass amounts to skirt America's cost to operate.

We can all argue whether the current tax code is junk or not though the IRS does not create the tax code. They are part of the executive branch. They enforce the BS legislative branch (Congress) to enact laws.

Want change? Get out of the trench R vs D, demand the gluttony of R and D take a hike, and vote in Quality Americans who actually give a damn. Not the continuous dopey American that says, well okay, that's who the R and D offer us to vote. Who's pile of dung stinks less?

Flip a coin.

 

[SAJ-99]

I was reading this article about Apple stock.

Is Apple Stock A Buy After December-Quarter Earnings And Vision Pro Launch?

Apple stock has been an American success story several times over with the Mac, iPod, iPhone and other inventions. But is AAPL stock a buy?

www.investors.com

Then there's this statement.

Is Apple Stock A Buy Right Now?​

Apple stock is not a buy right now. It is trading well below its official buy point. However, it could form a new base with the larger consolidation.

Seems like dumb statement if the idea is to buy as low as possible.

I think the idea is to buy on a breakout from this current range. Of course, you can't figure this out by reading the article. There is a ton of information in the article (+ and -) and almost no investment thesis. This is the problem I am finding in general. There is sooo much information/media on internet an investor can be overwhelmed easily, and every service is trying to get you to click on the article. It seems like this will just get worse because I think an AI software service could have easily written that article.

 

[SAJ-99]

How about a visit from the IRS the morning you are going to testify concerning government over reach? Weaponization of the IRS needs stop now. IRS needs a good house cleaning, not $80 billion more in funding.

The IRS Makes a Strange House Call

Democrats are denouncing the House GOP investigation into the weaponization of government, but maybe that’s because Republicans are getting somewhere. That includes new evidence that the Internal Revenue Service may be targeting a journalist who testified before the weaponization committee.

judiciary.house.gov

This seems along the same lines, i.e. probably unconstitutional. I don't know how to get rid of politicians that are clearly batshit crazy as crazy seems to find a higher level every year and across all levels of government.

Lawmakers consider taxing non-profits suing state agencies

In Montana, the state and federal government have repeatedly been sued into compliance with environmental law.

billingsgazette.com

 

[Handlebar]

 

[npaden]

Somewhat interesting map. Not really a R vs D type map. One thing that is somewhat interesting is that a lot of the darkest counties are ones that are at or near poverty level. I can pick out several indian reservations on there and some of the poorest counties in the south are the darkest red.

One of the biggest flags that gets a return audited is errors and my guess is that there are a lot of errors on some of those low income returns or possibly a bunch of folks not even filing a return at all that should be. Could be issues with duplicate claiming of dependents as well.

That map is just the # of audits per filing, my guess is that a lot of those are low $ returns and also pretty simple audits. Like knock several out in a day type ones. Higher volume but not much revenue generated.

Not sure what a map of audits has to do with how the stock market is doing though....

 

[TOGIE]

Somewhat interesting map. Not really a R vs D type map. One thing that is somewhat interesting is that a lot of the darkest counties are ones that are at or near poverty level. I can pick out several indian reservations on there and some of the poorest counties in the south are the darkest red.

One of the biggest flags that gets a return audited is errors and my guess is that there are a lot of errors on some of those low income returns or possibly a bunch of folks not even filing a return at all that should be. Could be issues with duplicate claiming of dependents as well.

That map is just the # of audits per filing, my guess is that a lot of those are low $ returns and also pretty simple audits. Like knock several out in a day type ones. Higher volume but not much revenue generated.

Not sure what a map of audits has to do with how the stock market is doing though....

i was gonna say, i feel like that map is also just a heat map of audit/return simplicity.

maybe it was @Sytes that said it before, but i feel like the problem is that the IRS just doesn't have the talent or manpower necessary to audit the big boys.

 

[Handlebar]

Somewhat interesting map. Not really a R vs D type map. One thing that is somewhat interesting is that a lot of the darkest counties are ones that are at or near poverty level. I can pick out several indian reservations on there and some of the poorest counties in the south are the darkest red.

One of the biggest flags that gets a return audited is errors and my guess is that there are a lot of errors on some of those low income returns or possibly a bunch of folks not even filing a return at all that should be. Could be issues with duplicate claiming of dependents as well.

That map is just the # of audits per filing, my guess is that a lot of those are low $ returns and also pretty simple audits. Like knock several out in a day type ones. Higher volume but not much revenue generated.

Not sure what a map of audits has to do with how the stock market is doing though....

There was some discussion about the new IRs agents I was reading a Pro Publica article and found it interesting. I think it is based on number of audits per county vs the national average. My guess is like any group low hanging fruit get snatched first.

 

[antelopedundee]

There was some discussion about the new IRs agents I was reading a Pro Publica article and found it interesting. I think it is based on number of audits per county vs the national average. My guess is like any group low hanging fruit get snatched first.

Do they still do random audits?

 

[antelopedundee]

I think the idea is to buy on a breakout from this current range. Of course, you can't figure this out by reading the article. There is a ton of information in the article (+ and -) and almost no investment thesis. This is the problem I am finding in general. There is sooo much information/media on internet an investor can be overwhelmed easily, and every service is trying to get you to click on the article. It seems like this will just get worse because I think an AI software service could have easily written that article.

Apple is about $160 now so why would you give up $20 a share if the official buy price is $180?

 

[SAJ-99]

DFLI earnings day,
General summary = Not great

• Net Sales of $86.3 million were 10.6% higher compared to $78.0 million in 2021
• Gross Profit of $24.0 million was lower compared to $29.6 million in 2021
• Operating expenses of $(37.5) million, increased compared to $(23.2) million in 2021
• EBITDA for the full year 2022 was a negative $(12.6) million, compared to $7.1 million in 2021
• Adjusted EBITDA for the full year 2022 was a negative $(7.9) million, compared to $8.5 million in 2021
• Cash was $17.8 million, and debt was $76.2 million on December 31, 2022

 

[SAJ-99]

Apple is about $160 now so why would you give up $20 a share if the official buy price is $180?

It is an investment strategy. You don't buy the stock until it breaks out of the range. I know it doesn't make sense. It isn't about fundamentals, just technicals. You are trying to gauge the investor sentiment for the name. You don't want to buy at 160, watch it go to 175 and hit that same price it sold off at last August. In poker speak, AAPL is a pair of 2's right here. A dangerous hand to bet.

 

[Sytes]

DFLI earnings day,
General summary = Not great

• Net Sales of $86.3 million were 10.6% higher compared to $78.0 million in 2021
• Gross Profit of $24.0 million was lower compared to $29.6 million in 2021
• Operating expenses of $(37.5) million, increased compared to $(23.2) million in 2021
• EBITDA for the full year 2022 was a negative $(12.6) million, compared to $7.1 million in 2021
• Adjusted EBITDA for the full year 2022 was a negative $(7.9) million, compared to $8.5 million in 2021
• Cash was $17.8 million, and debt was $76.2 million on December 31, 2022

 

[antelopedundee]

The 52 week range has been 124-180. I'd rather buy at 160 and sell at 175 for a $15 profit then to have bought at $180. People trade it every day so some are buying well and some maybe not so well. I thought that the first rule of investing is that you can't go wrong by taking a profit.

 

[SAJ-99]

The 52 week range has been 124-180. I'd rather buy at 160 and sell at 175 for a $15 profit then to have bought at $180. People trade it every day so some are buying well and some maybe not so well. I thought that the first rule of investing is that you can't go wrong by taking a profit.

I don't say I agree with it, I am just explaining why they article said what it said. Buy at $160 and hope it goes to $175 and not $140 if you want. In the future, I would recommend not clicking on those articles.

 

[longbow51]

This a red or green day entering the weekend?

Politics fug up a thread. Unless it's a political thread - which typically run their short lived course until locked.

No, but Trump=drill and Biden = no drill is relevant to the discussion. Trump is bad for O&G investors, Biden good.

 

[AvidIndoorsman]

Somewhat interesting map. Not really a R vs D type map. One thing that is somewhat interesting is that a lot of the darkest counties are ones that are at or near poverty level. I can pick out several indian reservations on there and some of the poorest counties in the south are the darkest red.

One of the biggest flags that gets a return audited is errors and my guess is that there are a lot of errors on some of those low income returns or possibly a bunch of folks not even filing a return at all that should be. Could be issues with duplicate claiming of dependents as well.

That map is just the # of audits per filing, my guess is that a lot of those are low $ returns and also pretty simple audits. Like knock several out in a day type ones. Higher volume but not much revenue generated.

Not sure what a map of audits has to do with how the stock market is doing though....

I believe the EITC is the most audited credits/claiming it puts you at most risk for audit.

 

[Red-Team 98]

The main factor driving the uptick in heavy crude prices is a new mega-refinery in China which has contracted at least 8 million barrels of heavy crude.

As well as China’s mega-refinery, constrained supply from Venezuela and Ecuador and the end of refinery maintenance season in the U.S. are pushing prices higher. Bullish for XLE and VDE.

 

[AvidIndoorsman]

The main factor driving the uptick in heavy crude prices is a new mega-refinery in China which has contracted at least 8 million barrels of heavy crude.

As well as China’s mega-refinery, constrained supply from Venezuela and Ecuador and the end of refinery maintenance season in the U.S. are pushing prices higher. Bullish for XLE and VDE.

OilPrices.com also claimed $200 oil last year... and the year before... grain of salt buddy.