Show-me Account Talk

[hessian]

Hey Show-me,
I was wondering if you'd seen the AmericanBulls.com site (I must have got it on this MB somewhere, or else I tracked to it from here). In any case I recall you like daily Candlestick Analysis. In fact, I recall first hearing about the "bearish harami" pattern in one of your posts in weeks past!
Anyway, let me know what you think of this site's analyses/value!
"C"
http://americanbulls.com/StockPage.asp?CompanyTicker=SP500&MarketTicker=NYSE&Typ=I
"I"
http://americanbulls.com/StockPage.asp?CompanyTicker=EFA&MarketTicker=NYSE&TYP=S

Last, the Wilshire 4500 Index ("S" fund) doesn't seem to be here, so I watch the Russell 2K sometimes, as its usually close to the "S":
http://americanbulls.com/StockPage.asp?CompanyTicker=RUSSELL&MarketTicker=NYSE&Typ=I

 

[Uptrend]

Hessian:

I first talked about this website in my post #233. I have been tracking this site for individual stocks for years.

A caution: a buy-if does not mean buy. It means buy only if ceritan conditons are met on the next trading day. And you will also note that sometimes they are wrong and will indicate with an x next to the buy or sell.

The daily signals for the most part are not bad, but the weekly signals are not good. Hope this helps.

 

[hessian]

Hessian:
I first talked about this website in my post #233. I have been tracking this site for individual stocks for years.
A caution: a buy-if does not mean buy. It means buy only if ceritan conditons are met on the next trading day. And you will also note that sometimes they are wrong and will indicate with an x next to the buy or sell.
The daily signals for the most part are not bad, but the weekly signals are not good. Hope this helps.

Hi Uptrend,
Appreciate the input! I couldn't recall where/who brought it up, but was sure the source was this MB! First time I reviewed it, I bookmarked it as one of my daily Favorites! Actually, I hadn't noticed the weekly calls here (I'll acccept your opinion on this!) - mostly I immediately saw value in the daily patterns, and calls made as a result. Roger, re: your note for "Buy-If" patterns, and similar ones that require confirmation. -I read all in entirety, and absorb!

I'd add, for anyone interested to learn more on this, the "Candlestickler" is also available at AmericanBulls, at link below. The specific link given is to Bullish patterns, but note the other tabs, showing Neutral, and Bearish patterns, too: http://www.candlesticker.com/Bullish.asp:

Thanks Uptrend -I personally find alot in your posts very helpful!
VR

 

[Show-me]

Just finalized my taxes. I was worried about the "tax rebate" stimulus plan a little. My total income tax for 2007 is $766 and it is a tax rebate based on taxes paid, unless your are poor like me. I'm guarantied $600 for me and the Misses as well as $300 per kid. I'M MAKE'N MONEY ON THIS DEAL!!! WHAT A COUNTRY!!!

I could more than zero my total income tax by fully funding my '07 Traditional IRA and get a additional $1350 from the Federal and State. I would pay zero taxes and get the $1200 rebate. Very tempting to stick it to them, but I will bite the bullet and pay the $1,000 in State and Federal while the tax rate is low so that I get the Roth benefit when I retire.

 

[Show-me]

http://www.usatoday.com/money/perfi/2008-02-10-rebate-faqs_N.htm

 

[Show-me]

 

[GGal]

SM, I am quite confused by this discussion.

The "tax rebate" of $1200 or more appropriately "advance payment" of a 2008 tax rate reduction will be based on you and your spouses 2006 income (which you filed a return on in 2007), not on your 2007 taxes.

GGAL

Just finalized my taxes. I was worried about the "tax rebate" stimulus plan a little. My total income tax for 2007 is $766 and it is a tax rebate based on taxes paid, unless your are poor like me. I'm guarantied $600 for me and the Misses as well as $300 per kid. I'M MAKE'N MONEY ON THIS DEAL!!! WHAT A COUNTRY!!!

I could more than zero my total income tax by fully funding my '07 Traditional IRA and get a additional $1350 from the Federal and State. I would pay zero taxes and get the $1200 rebate. Very tempting to stick it to them, but I will bite the bullet and pay the $1,000 in State and Federal while the tax rate is low so that I get the Roth benefit when I retire.

 

[weatherweenie]

SM, I am quite confused by this discussion.

The "tax rebate" of $1200 or more appropriately "advance payment" of a 2008 tax rate reduction will be based on you and your spouses 2006 income (which you filed a return on in 2007), not on your 2007 taxes.

GGAL

Beginning this spring, more than 130 million people will get rebate checks from the government in amounts from $300 to $1,200. Most households will get another $300 for each child under the economy relief bill passed by Congress. All must file an income tax return for 2007 to qualify.
http://www.sun-sentinel.com/business/sfl-flzrebateqa0209sbfeb09,0,6620525.story?track=rss

Q: How are the rebates calculated?

A: Rebates are calculated on the basis of taxpayers' 2007 adjusted gross income, which includes salaries and wages, interest, dividends, capital gains, taxable pensions, royalties and farm or rental income. It does not count contributions to individual retirement accounts, 401(k) retirement plans, tax-free health savings accounts or student loan interest payments.

 

[Show-me]

GG,

At first I thought that too, but the more I read the more it sounds like they are going off of the '07 return. Maybe it is because of the fact the IRS is getting hammered from their busiest time of the year.

Secretary Paulson even made the comment for us to hurry up and get those 2007 tax return done and turned in at one of the press conferences last week.

Needless to say it has been very difficult to get a straight answer on the details.

 

[Show-me]

For entertainment purposes only.

For entertainment purposes only. :laugh:

 

[CorMaGa34]

SM, I am quite confused by this discussion.

The "tax rebate" of $1200 or more appropriately "advance payment" of a 2008 tax rate reduction will be based on you and your spouses 2006 income (which you filed a return on in 2007), not on your 2007 taxes.

GGAL

Hi, GGAL,

I wonder if a couple filed married jointly in 2007 (reporting 2006 income) but in 2008 each has to file separately for 2007 income due to divorce, how would that be handled?

 

[Show-me]

Hi, GGAL,

I wonder if a couple filed married jointly in 2007 (reporting 2006 income) but in 2008 each has to file separately for 2007 income due to divorce, how would that be handled?

I'm not GG, but my best guess would be that you would qualify under the single rules. Eligible for $600 and a additional $300 for each child dependent.

 

[Scout333]

As I understand the process, the rebate checks are an advance based on 2007 income. They are,however, a 2008 credit. All this means is that if the rebate amount turns out to be the wrong amount it will be adjusted on the 2008 tax return. Thoroughly confused now! Somehow it works out. At least it did the last time (2002 or so?)

 

[GGal]

My mistake! I jumped to the wrong conclusion after reading somewhere that the refunds would start going out in March (which would mean they would have to use 2006 filed in 2007).

At www.irs.gov, it does say they will use 2007 income, and will start sending them out in May.

So sorry for the confusion.

GGAL

 

[GGal]

As I understand the process, the rebate checks are an advance based on 2007 income. They are,however, a 2008 credit. All this means is that if the rebate amount turns out to be the wrong amount it will be adjusted on the 2008 tax return. Thoroughly confused now! Somehow it works out. At least it did the last time (2002 or so?)

Yes, the "refund" is merely an advance on a 2008 rate reduction. If you don't qualify based on 2007 income, but then turns out you qualify on 2008 income because it is less, they you get the rate reduction benefit on the 2008 return.

If you qualify on the 2007 income, but then it turns out should not have qualified on the 2008 return because your income went up, they won't penalize you and take it back.

I saw a thread on here somewhere a while back that said any refund we get has to be paid back with the 2008 return, and that simply is not true. This is an advance refund on the reduced tax rate that will be in affect for 2008.

 

[Show-me]

OK, if it is a advance and I get $1200 "rebate". Will that amount be reduced from my 2008 refund? Example I should ge a $1200 refund for my 2008 income taxes but the $1200 rebate nulls that out so I get zero.

 

[Corepuncher]

OK, if it is a advance and I get $1200 "rebate". Will that amount be reduced from my 2008 refund? Example I should ge a $1200 refund for my 2008 income taxes but the $1200 rebate nulls that out so I get zero.

I don't think it's like that at all, we would have heard a lot of hollerin' on CNBC by now if it were the case.

 

[Show-me]

This is going to be a cluster!

 

[Oldcoin]

Do I have to pay the rebate back?

No. And here's why.

Your rebate is a one-time tax cut - an advance on a credit you'll receive on your 2008 return.

It's based on your 2007 income initially. If it turns out that your 2008 income and number of children would have qualified you for a larger rebate than the one you received, you'll be sent the difference. If it turns out your 2008 income was lower than in 2007 and you should have gotten a lower rebate, you get to keep the difference.

"If you were supposed to receive a larger payment than you did, you will get the extra money," said Treasury spokesman Andrew DeSouza. "If you received more than what you should have gotten, you will not be penalized."

http://money.cnn.com/2008/02/08/pf/...need_to_know/index.htm?postversion=2008020817

 

[Scout333]

You may be right! If I remember how it worked before, if you were entitled to $ 1200 and that is what you received there is no effect on your 2008 return. If you were entitled to $ 600 based on 2007 return amounts and your rebate amount is $ 1200 when you actually file your 2008 return you get the difference with your 2008 return as an additional credit (+$ 600). Still pretty confusing!