Buying GM on last thursday...selling today?
11-26-2008, 08:42 AM
#1
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Buying GM on last thursday...selling today?
(39.89%)
Wondering if I should sell. I've gained 40% just today, not to mention the last few days have all been gains.
thoughts?
-Greg
Wondering if I should sell. I've gained 40% just today, not to mention the last few days have all been gains.
thoughts?
-Greg
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11-26-2008, 09:16 AM
#8
Good move. Look at it this way, GM and F are trusting the gov't to save them. There's no guarantee that Congress will approve a bailout. Plus, Paulson is against it.
That Deutsche Bank analyst is wrong. Congress will fail.
January is a different story; new players will affect the outcome.
my 2 cents.
That Deutsche Bank analyst is wrong. Congress will fail.
January is a different story; new players will affect the outcome.
my 2 cents.
11-26-2008, 09:28 AM
#10
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Wait you just made 57% profit??? Wow...sounds too easy.
You'll still have to pay taxes on your gains:
Capital gains on assets held for a year or less are taxed at your ordinary income tax rate (anywhere from 28% to 39.6%, depending on your specific ordinary tax rate).
OUCH!
You'll still have to pay taxes on your gains:
Capital gains on assets held for a year or less are taxed at your ordinary income tax rate (anywhere from 28% to 39.6%, depending on your specific ordinary tax rate).
OUCH!