Dumped my 2200 shares early this morning when I heard Cramer say LINE had significant accounting issues. Don't need that.
marco the genius :-) made $1,620 less $18.98 commission. Hey, if they cooked the books once, why won' t they do it again, huh?
Now it looks like from your approximate after-tax, after-commission, avoid-the-distribution net gain of $0.27, you can deduct another $.20 with today's price move, so you're huge gain is really about $.07 per share.
Subtract $531.67 (about 33%) from your gain because you'll miss the distribution unless you get back in. Let's see, your commission also cost you about 1.2% so you've already lost over 34% of your gain. Oh, and taxes on a short-term gain, depending on your tax bracket, will run perhaps 30%, so you've given up over 60% of your gain to taxes, commissions, and lost distribution. Net, Net, you might clear about $600, or about 27 cents a share....LINE will likely go up that amount or more in a single trading session....
Not being cynical, just trying to point out that "fast trading" sounds great, but there are all kinds of costs that need to be considered.
not too smart there Marco Dumbo... nobody cooked the books. You need to check other sources before making such decisions. Besides, making less than a buck a share as profit is nothing to brag about.
The SEC found nothing wrong with Linn Energy's books. Cramer however has been barred by the SEC from trading on Wall Street. You're someone that "can't see the forest for the tree's". Tell your mom you want to put your huge profit into a new X-Box.
Wait a minute gpd, Crammer's a jerk, but he has not been barred by the SEC for anything. Apparently CNBC doesn't allow him to trade, reputedly due to an earlier controversy. Dump all you want on the guy, but let's keep the facts straight.
Coochy the cooty :-) huh?