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Large block trades that caused selling raises questions about cause

https://youtu.be/rdS0X3kWaQM

(Reuters) – A number of large block trades on Friday which investors said caused big drops in the stocks of a clutch of companies has raised speculation about what was behind them, with Goldman Sachs said to be a bank involved in the sales. Shares in ViacomCBS and Discovery tumbled around 27% each onFriday, while U.S.-listed shares of China based Baidu andTencent Music plunged during the week, dropping as much as 33.5%and 48.5%, respectively, from Tuesday’s closing levels. Investors and analysts on Friday cited large blocks ofshares in both Viacom and Discovery companies as being put inthe market on Friday, calling them massive volumes, likelyexacerbating the declines. Viacom also on Friday was downgradedby Wells Fargo. A source familiar with the matter said on Saturday thatGoldman Sachs Group Inc was involved in the large blocktrades. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion of stocks in the blocktrades. The Financial Times reported that Goldman toldcounterparties that the sales were prompted by a “forceddeleveraging”, citing people with knowledge of the matter. CNBC reported that the selling pressure was due to liqudation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation. A person at Archegos who answered the phone declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia according to a page capture of the fund’s website. Tiger Asia was a Hong Kong based fund fund https://www.reuters.com/article/togerasia-hedgefund/update-1-hedge-fund-tiger-asia-to-return-investor-money-idUKL4E8JE2XP20120814 that sought to profit on bets on securities in Asia. An email to clients seen by Bloomberg News said Goldman sold $6.6 billion worth of shares of Baidu Inc, TencentMusic Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloombergreport on Saturday said. Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc,according to the report. The Financial Times reported that Morgan Stanley sold $4billion worth of shares earlier in the day, followed by another$4 billion in the afternoon. Morgan Stanley and Goldman Sachs declined to comment.

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Highly Leveraged Hedge Fund Have Imploded: Some Stocks Remain Heavily Discounted

  • Shares of ViacomCBS, Discovery fell as much as 35% Friday
  • Goldman Sachs offered very large block shares of ViacomCBS Friday afternoon – Sources
  • Multiple prime brokers sold shares aggressively Friday afternoon
  • Archegos typically employs high leverage on its stock positions
  • ViacomCBS earlier this week conducted large secondary offering

Hedge Fund Rumored to have gotten margin called; Forced to Liquidate over 30 Billion in assets; Some stocks heavily discounted. Over the last week, some stocks experienced sudden, extreme sell pressure: $BIDU, $IQ, $TME, $VIAC, $VIPS, $YY This is rumored to be caused by forced liquidation from one highly leveraged hedge fund: Archegos Capital. A liquidation of holdings at several major investment banks with ties to Tiger Cub Archegos Capital Management LLC contributed to an unseen daily decline Friday in shares of stocks including Discovery, Inc. and ViacomCBS Inc., according to people familiar with matter. Shares of media conglomerate ViacomCBS fell 26% while Discovery dropped 27% Friday, recovering from far steeper losses. The degree of the declines was unprecedented and occurred in an otherwise orderly market. Early selling came through so-called block trades from Goldman Sachs & Co., which offered over 30 million shares of ViacomCBS in midday trading. Morgan Stanley, earlier in the day, offered over 15 million shares of Discovery, according to people familiar with the matter.

The common thread is defunct Tiger Asia Management LLC founder Bill Hwang, who now runs Archegos Capital. His fund was and may still be an large owner of shares in both ViacomCBS and Discovery. Mr. Hwang did not respond to phone calls, emails, or Bloomberg messages sent by IPO Edge. Mr. Hwang’s fund is known employing leverage, meaning it borrows to invest in more securities than it could own with its own capital. One person familiar with the matter said Mr. Hwang’s fund received a margin call from one of the investment banks – not necessarily Morgan Stanley or Goldman Sachs – and was unable to meet it. As a result, that bank and others began to liquidate stocks owned by Archegos. Several other stocks swooned Friday for no apparent reason, but may be related to Mr. Hwang’s fund, which focuses on telecom, media, and technology, or TMT. Nick Note: You have been in a war with hedge funds trying to take the market against the grain. As i have been warning you these assholes are not almighty. They get margin calls too. Its a war of attrition. How long can we hold our positions is critical. If we would have spread this trade we would have played into their hands. When i declared the bottom… That is when their  algorithms threw in desperation hundreds of billion trying to sink the market. That was on March 3, where the low was put in at 12200. I declared that a bottom.  I can tell you i got death threats, because on no small part my getting you to hold and BUY we fucked them good.  Its was a forced 10% correction that failed.

They were counting on a continued drop of a 20% . A EPIC CORRECTION THEIR ALGOS WERE PREDICTING.  i GOT YOU TO NOT ONLY HOLD BUT BUY MORE. AND IT FUCKED THEM GOOD!

How many times do i have to scream at you that was a bottom….. and rob a bank. This is where millions are made in a trade. You might notice we went dark… WHY because whether you realize it or not the Hedge Funds know what a great danger we are to them. We keep a hold in the market when they are desperately trying to blow them out. Look you are seeing many MANY 100 billions of hedge funds entering forced liquidation. And guess who is their enemy….. Who else told you about this ahead of time…. Charles Schwab? Etarde?…. How about Raymond James? Did Fidelity give you a call? People on the inside new.  And I new and told you the bottom was in documented and signed my name to it!  they are keeping things very quiet. Friday was a blow up. Billions hundreds of billions of Hedge fund trades are underwater and facing FORCED liquidation which is what you saw STARTING  on Friday. What you saw was shorted against our trades being liquidated…… Forced liquidation on the close and for a fact it was record liquidation. I new, so why do i have to suffer when i am the ONLY one giving you a seat at the table. This will be one of the greatest trades ever… And your sitting their doubting me……. And yes their will be volatility… SO!

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Dow up 450 pts at close amid recovery hopes

  • US stocks closed higher on Friday buoyed by optimism over the pace of vaccinations.
  • Risk appetite returned as a heightened pace of the vaccine rollout promised by President Joe Biden suggested the economy was headed for a reopening.
  • Oil prices edged higher following news that it could take weeks to dislodged the container ship blocking the Suez Canal.

The Dow Jones industrial average led US stock higher Friday as optimism around the economic recovery was boosted on the back of an accelerated pace of COVID-19 vaccinations. The Dow closed higher by over 450 points. Thus far, 25.7%, or 85 million Americans have received at least one dose of the vaccine and 14% or 46.3 million have received two doses. President Joe Biden pledged this week to double his administration’s original goal to 200 vaccine doses in by his 100th day in office. Energy producers and health care companies outperformed their peers on the last trading day of the week. Bank shares also rose after the Federal Reserve Thursday afternoon announced that banks can raise dividends and resume share repurchases after June 30.Here’s where US indexes stood at the 4 p.m. ET close on Friday:

Nick Note: Here is where market intelligence is so important. To gain the aforesaid intelligence takes resources, money and analysis. Nothing in the above story is anything that has not been in the markets for weeks. Here is the real story. Hedge funds are no longer traders… But market manipulators. They are not using their vast resources to analyze economic data. That is a failed model. Year over year the vast majority of hedge funds lose money or at beast return the 10 year treasury rate. The problem is the pool of talent has been reduced to PC correct people with a lefty grenniewinne LGBT agenda. Hiring people because they are Gay of color,  perceived as oppressed minorities, under paid and under represented females does not necessary give you the best talent pool. SO hedge funds have become market manipulators. Unfortunately that only works for a short time. Take the trade we are in. Fundamentally we are in a massive restart of the global economy. Their is no discussion its a facy. In no small part due to two things. First the miracle of the mRNA vaccine…. a game changer. Second MASSIVE and i mean Massive stimulation efforts by the G20 countries.  Add to this the greatest savings rate  and record cash on the sidelines its not rocket science to see what is coming. I the meantime here comes the hedge funds to go against the fundamentals. By using their massive leverage and vast computer market execution resources and their media footprint to create massive internet media spin they have been able to stall the stock market rally. Key word here is temporarily stall the rally  by creating market uncertainty and confusion among  investors. Now a unenlightened person might consider that as bad. But au contraire, its the best situation in the world for us. It means we have gotten lower priced positions and and and it insures a bigger faster upside rally. Now as to Fridays market action. Price discovery is an important part of what we do. Not only the price but how the market arrives at that price. Often times this is farm more important then daily or even monthly swings. Fridays market is a concurrence of key events and once again demonstrates the present sorry state of the Hedge funds. They have become little more than temporarily driven market manipulators. Hedge funds employ massive computers to enable them to simply manipulate markets. using algo based high frequency trading. The present manipulation gave us the KEY beginning of March 10% correction and the long term market bottom. The violet swings we are now seeing in stock indices are a classic bottoming event. Now stay with me here. The majority of traders from a ethnic stand point are disproportionately JEWS… Like it or not, PC correct or not that is the fact. And the majority of advanced mathematicians are disproportionately Jews. See we have a massive advantage by being free of PC stupidness. Spain became a world power because it defied the PC of the time that the world was flat and the earth was the center of the universe. By understanding the world is round and the sun is the center of the universe navigation to the new world was possble. Wall Street is hand strung by the PC correct trading and hireing people of color, females at the switch, equally pay equal power LGBT PC correct employment and Grenniewinnie trading strategies… PC on Wall Street makes their quest for long term profits a failure… Political agenda trading is a recipe for failure. Putting people in control with a profound lack of talent to right perceived social  wrongs is a feel good useless stratagey. Besides being a stupid narrative for sure. But insider knowledge free of PC constraints  gives us GREAT success and trading edge. If you hire PC correct people and not the best talent your results will suffer. Now back to Fridays price action. It is settled business that hedge funds are taking the market against the grain and desperately attempting to stall the inedible massive coming stock market rally. To facilitate the aforesaid manipulation they are using algorithm based high frequency trading in a desperate attempt to keep a lid on this market as long as possible. Most of the trades are super computer algorithm driven trades. And the reality is most of the people running these hedge age funds are not market analysis but mathematicians. High level PHD types who are disproportionately Jews.  And this weekend is Passover. Outside of Israel Passover is two days Sunday and Monday. Many of these algo traders are religious enough that they will not work the Sunday Night session and will miss all of Mondays day market. So they neutralized their trade book on Fridays close as i expected. And you saw the rally on the close. This is really good for us because it proves the hedge fund manipulation and the fact that their manipulation will soon fail. Now do not misunderstand the Jewish component. I owe my success as a market analysis to JEWISH mentors who realize i was gifted and took me under their wing. From Herbie Gutstein , to Abe Gerstein, to Tom Rubin  to  Danny Rosenthaw to Milton Freeman to name a few. i found my Jewish mentors to be brilliant,  incredible generous,  giving  people.  To my antisemitic  Nazi friends. You are right about one thing. You should fear the Jew  he will fuck you in ways you cannot imagine… it will not be a fair fight!. They have defeated their enemies throughout history conquering every mighty empire…… And mostly by trickery. The latest your blood brother Adolph. The Jew is smarter then the majority of people on the planet, better funded.  better educated, far more manipulative and i believe blessed by GOD. They do dominate science, medicine, economics, banking and the legal profession. While the masses teach their kids nothing useful. Who are usually raised in poverty by a desperate mother (also a fuck up) alone who is powerless to stop them from fucking, fucking up and getting stoned. The Jew (among the most prosperous) marry, discipline and force their kids into business and/or higher education…….. As a foot note their are many very smart Jewish fundamental analysts usually trading private trade books.

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Analysis: China airfares rebound in potential rehearsal for global recovery

BEIJING/SYDNEY (Reuters) – Widely watched airfares in China are recovering to pre-pandemic levels as domestic tourists lead a patchy air travel recovery, scattering crumbs of hope to a shattered global travel sector. With international markets like Europe still in partial lockdown, the global tourism industry’s attention is riveted on China’s new travel patterns as it brings COVID-19 under control and lifts curbs on movement. The Chinese domestic market quietly overtook the once-dominant U.S. market in size during the pandemic, but multiple coronavirus outbreaks before last month’s Lunar New Year halted the rebound and could lead to first-quarter losses. Now, with temporary testing and quarantine restrictions once again lifted, average prices for an economy seat during the April 3-5 Qingming festival, or tomb-sweeping holiday, have rebounded to 96% of 2019 levels, according to data from Ctrip. Economy-class airfares for trips over the Labour Day holiday in early May have risen 11% compared with 2019 levels, says Ctrip, run by online travel giant Trip.com Group Ltd. “It seems like demand has really caught up with capacity once again and airlines are deciding discounts are no longer needed to stimulate demand,” said Luya You, transportation analyst at BOCOM International in Hong Kong. “I think the pent-up demand that everyone has been expecting is finally showing up in full force,” said You, adding she expects yields and revenues to reach normal by the second half. Over the last year, Chinese domestic capacity had risen faster than demand, depressing airfares as carriers sought to fill as many seats as possible. A return to fare growth is seen as a final step in the recovery. There are signs the United States, a close second in domestic capacity, is following a similar trajectory months behind China as vaccination rates rise, case numbers fall and airlines add more flights. Average round-trip U.S. domestic fares for May to August remain up to 20% lower than 2019 levels, but are up as much as 36% higher than 2020, online travel agent Hopper said.Europe, however, is bracing for a second lost summer in part because of a hobbled COVID-19 vaccine rollout and a heavy reliance on cross-border traffic. When travel restrictions are lifted, the European market should expect a “bloodbath” with low-cost airlines like Ryanair and Wizz Air competing to offer the lowest possible fares, CAPA Centre for Aviation Chairman Emeritus Peter Harbison said this month. In China, the Lunar New Year holiday is usually the busiest time for local airlines. But this year’s celebration was a wash-out for air travel, with capacity slashed and ticket prices plunging to five-year lows. Now, Chinese airlines are ramping up domestic capacity for the next few months, diverting aircraft from the largely closed international market. Chinese carriers are scheduled to operate 20.7% more domestic flights from April to October compared with 2019, according to flight master, a Chinese aviation data provider. China Eastern Airlines will overtake China Southern Airlines to operate the most domestic flights, while planned flights by Spring Airlines will surge by 62.25% from 2019 levels, the company said. Investors have noticed. Stock prices for the three biggest Chinese airlines have recouped pandemic-related losses. But all airlines are facing new headwinds from rising oil prices – exacerbated this week by a shipping blockage in the Suez Canal – and concerns over COVID-19 restrictions in international markets. Parash Jain, head of Asia Pacific transport research at HSBC, expects 2021 to be another loss-making year for the three biggest Chinese airlines and warns their shares already look like they have overshot. “What we’re seeing is the initial rebound in share prices has reflected the recovery in domestic market for now, with oil as a headwind, with foreign exchange no longer a tailwind and the rest of the world not favourable,” he said. Nick Note: China got their first. They are my blueprint for our BlackJack trade. The reopening of the US economy. Of course the markets are not sure and our trade is hotly contest. The big ones always are.

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Vaccines appear effective vs New York virus variant; super-spreader events drive variants

(Reuters) – The following is a roundup of some of the latest scientific studies on the novel coronavirus and efforts to find treatments and vaccines for COVID-19, the illness caused by the virus. New York variant does not escape vaccines Antibodies induced by the Pfizer/BioNTech and Moderna vaccines and the antibody therapy from Regeneron Pharmaceuticals all are able to neutralize a coronavirus variant on the rise in New York, lab experiments show. The New York variant contains mutations – E484K, S477N and D235G – that experts feared might reduce antibody efficacy. The new results “show that this potential problem is not going to be a problem,” said Nathaniel Landau of New York University, who coauthored a report posted Wednesday on bioRxiv ahead of peer review. The mutations all cause changes to the spike protein the virus uses to infect cells and are located in the part of the spike protein where antibodies bind. The researchers exposed replicas of the New York variant to blood from recipients of either the vaccines or the Regeneron antibody combination used to treat infected patients. Antibodies induced by the vaccines were “very effective at binding to the altered spike protein,” Landau said. The Regeneron therapy also was “still a potent blocker” of the virus. “The vaccines are very effective at stopping this highly contagious variant strain of SARS COV2 which is why it is more important than ever to get vaccinated,” Landau said. (https://bit.ly/3ssmR9u) Super-spreader events give life to virus variants Super-spreader events, in which an infected person transmits the virus to many other people, are critical to the survival and predominance of new variants, researchers have found. If coronavirus transmission only occurs one person at a time, a new variant is unlikely to gain a foothold and will usually die out in the population by chance, said Daniel Reeves of Fred Hutchinson Cancer Research Center in Seattle. “Even very strong variants can die out if they are ‘unlucky’ and don’t happen by chance to be transmitted in a super-spread event,” he added. His team’s new mathematical models, posted on Wednesday on medRxiv ahead of peer review, show that early super-spreader events infecting more than five people are critical to a variant’s survival, while super-spreader events infecting more than 20 people are critical to its eventual predominance. Even a very infectious new variant usually needs a super-spreader event to help it overtake a current variant, Reeves explained. The findings provide yet another reason to focus on preventing large super-spreader events by prohibiting large indoor gatherings, focusing on adequate ventilation indoors, and mandating highest quality masks (K95 or N95) when group exposures are unavoidable, the researchers concluded. (https://bit.ly/39fZ4C7) Coronavirus can infect mouth tissues, spreading infection The new coronavirus can infect salivary glands, which can then play a role in transmitting the virus to the lungs or digestive tract via saliva, according to a report published on Thursday in Nature Medicine. Researchers first studied mouth cells from healthy volunteers, looking for two proteins the coronavirus uses as entryways. Cells in the salivary glands and the gums expressed both proteins, making them vulnerable to infection. Next, researchers discovered genetic material from the virus in mouth tissues from COVID-19 patients, indicating infection. They also found evidence that the virus was replicating in some of these cells. Among 27 volunteers with mild COVID-19, those with virus in their saliva were more likely to report loss of taste and smell, suggesting that infected salivary glands might help explain some oral symptoms of COVID-19, the researchers said. “The study’s findings suggest that the mouth, via infected oral cells, plays a bigger role in SARS-CoV-2 infection than previously thought,” study coauthor Kevin Byrd of the University of North Carolina at Chapel Hill said in a statement. “When infected saliva is swallowed or tiny particles of it are inhaled, we think it can potentially transmit SARS-CoV-2″ further into the body.” (https://go.nature.com/3spbFdQ)  Nick Note: Its obvious its the crowds people bunching up that is now driving the epidemic. So sad the solution is so simple. But the masses have to bunch up in herds…… We all know what are solution is,,,,

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US closes mostly higher after Biden’s presser

US stocks ended higher as President Joe Biden held his first presidential conference and as weekly jobless claims slumped to a one-year low. The Dow Jones Industrial Average rose 0.6% to 32,619.48, the S&P 500 was also up 0.5% to 3,909.52 and the Nasdaq Composite was 0.1% higher to 12,977.68. Financials and industrials led the gainers, with the communication services and technology sectors the only decliners on Thursday. The US 10-year yield rose 1.62%. At a news conference held at the White House, US President Joe Biden on Thursday pledged 200 million COVID-19 vaccinations within the first 100 days in office, after the administration achieved its initial goal of 100 million shots on Friday, which was the 59th day of Biden’s term, according to CNBC. Initial jobless claims was 684,000 for the week ended March 20, a drop of 97,000 from the previous week’s filings. Analysts polled by Econoday expected 730,000 claims. The previous week was revised up by 11,000 to 781,000. The four-week moving average was 736,000, down 13,000 from the prior week’s revised rate. The US 10-year yield rose by 2.6 basis points to $1.64%, after declining earlier in the session. Fed could begin tapering its asset purchase program by rolling back Treasuries and mortgage-backed securities it has bought when the economy starts to make “substantial further progress toward our goals,” Powell was cited as saying in media reports. The West Texas Intermediate futures slumped by 4.5% to $58.42 due to worries Europe was facing a new wave of the COVID-19 pandemic even as Germany backed off from harsher measures in April, outweighing the potential impact on supply of a container ship blocking the Suez Canal. “The weak point in Europe remains around the vaccine rollout amid the rise in new virus cases and the tightening of restrictions… which likely means the mooted acceleration in Q2 may have to be pushed back by a quarter,” National Australian Bank director of economics and markets Tapas Strickland was cited as saying in a report from Reuters. In company news, Darden Restaurants (DRI) reported fiscal third-quarter earnings and sales that slid year-on-year but still topped Wall Street estimates. Shares jumped by 8.2%, the most on S&P 500. Nike (NKE) is facing social media furor and boycott in China after the company said it was concerned about reports of forced labor in, and connected to, the Xinjiang Uyghur Autonomous Region in China. Shares fell by 3.4%, the steepest decliner on the Dow.

In the precious metals markets, gold was down 0.4% to $1,728.20 an ounce, with silver down 0.3% to $25.16 an ounce.

Among energy ETFs, the United States Oil Fund fell 3.8% to $39.89 and the United States Natural Gas Fund was up 2% to $9.64. Among precious-metal funds, the Market Vectors Gold Miners ETF was down 0.2% to $32.24 and SPDR Gold Shares were down 0.4% to $161.78. The iShares Silver Trust was up 0.2% to $23.29.

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United’s May flights to reach 52% of 2019 schedule

https://youtu.be/axdLu6L_-u4

(RTTNews) – As more travelers begin to plan long-awaited getaways with family and friends, United Airlines is kicking off summer vacation season with a robust May schedule that includes the addition of 26 new nonstop routes between Midwest cities such as Cleveland, Cincinnati and Milwaukee and popular vacation destinations such as Hilton Head, South Carolina; Pensacola, Florida; and Portland, Maine. The airline also plans to resume more than 20 domestic routes and will start new service between Orange County, California, and Honolulu.

Internationally, in May United will fly more than 100% of its pre-pandemic schedule to Latin America compared to what it operated in 2019, including more flights to Mexico, the Caribbean, Central America and South America.

The airline also plans to resume flights between Chicago and Tokyo Haneda, resume passenger flights between New York/Newark and Milan and Rome, and restart service between Chicago and Amsterdam. In total, United plans to operate 52% of its overall schedule compared to May 2019, whereas in May 2020 United operated 14% of its overall schedule compared to May 2019. Nick Note: sounds like a recovery to me…… The TSA reports over a million people flying a day.

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Futures: What You Trade Determines How You’re Taxed

By Jim Forrester, CPA

Futures trading covers a vast array of trading instruments, from stock indices and U.S. Treasury bonds to precious metals, energy sources such as oil and gas, and everyday foodstuffs including meats, grains and coffee.

Some futures traders buy and sell futures contracts to establish a current price of a purchase or sale to take place at a later date, thus providing a hedge against adverse price changes. Others speculate by buying or selling based on where they expect the market to go in order to profit from the very movements the hedgers seek to avoid.

When tax time rolls around however, the Internal Revenue Service groups each of your futures trades into one of two categories: securities or commodities. The biggest difference: commodities enjoy a lower tax rate.

While it may seem commonsensical to figure out which class your trades best fit, the number of new hybrid financial products created with the passage of the Commodities Futures Modernization Act of 2000 (CFMA) effectively blurred the distinction between some securities and commodities, at least for tax purposes.

The CFMA expanded the definition of a “broad-based index” (10 or more securities) to include almost all futures and options on stock indices, including “e-minis,” treating them as commodities and favoring them with a tax break. “Narrow-based” indices (nine or fewer securities), by contrast, are considered securities and taxed at the ordinary capital gains rate.

Securities vs. Commodities

Securities futures capital gains/losses are reported either on Schedule D (Capital Gains and Losses) or as ordinary capital gains/losses on IRS Form 4797 Part II (Sales of Business Property) if you elected mark-to-market accounting. Your securities trades are taxed as short-term capital gains at the ordinary income tax rate of up to 35%.

Commodities futures capital gains/losses are reported on Form 6781 (Section 1256 Contracts), which qualifies these for an advantageous tax split: 60% at the long-term rate of 15% and 40% at the ordinary short-term rate of up to 35%, or a combined tax rate of 23%, for a tax savings of 12%.

Because of this attractive 60/40 split, most commodities traders forego mark-to-market accounting and its favorable “loss insurance” in order to reap the benefits of the lower capital gains rate.

The Exception: Single-Stock Futures

What would IRS regulations be without an exception or two, right? In the case of futures, that exception affects single-stock futures, or SSFs, also referred to as securities futures contracts.

The IRS lumps SSFs in with securities and taxes them on the same basis as their underlying stocks, options or narrow-based indices. As a result, you pay the short-term capital gain rate of 35% on single-stock futures, and not the lower rate the IRS affords to commodities futures.

To make matters more confusing, the IRS doesn’t require your broker to report SSF proceeds on your IRS Form 1099-B, which lists proceeds from stock sales. While your broker or brokers may choose to include this information on your 1099-B, if they don’t, it can be a headache to break them out, especially under the crunch of tax deadline.

Futures traders have been given a considerable tax break in recent years that reflects the changing and expanding nature of the various financial products available

. But if you don’t report correctly, you may join the majority of traders who routinely overpay to the IRS.

Before filing this year, contact a Traders Accounting tax professional. We can help you sort out your activity and file a complete return that fully complies with IRS guidelines while achieving maximum tax advantages.

Take it from experienced traders: don’t go it alone when it comes to filing with the IRS. One false move can cost you plenty, possibly even your trader tax status. We strongly recommend you seek the assistance of a trader tax professional at Traders Accounting this tax season.

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US in green premarket with COVID in focus

Major stock markets on Wall Street registered gains ahead of Thursday’s session as the coronavirus pandemic continued to loom over the United States economy. The latest news revealed AstraZeneca posted updated results of its vaccine’s interim analysis, saying that the jab is 76% effective in preventing the COVID-19. Meanwhile, billionaire philanthropist Bill Gates estimated the crisis should be over by the end of next year. The Dow Jones surged 0.34% or 110 points at 4:20 am ET, while the Nasdaq 100 rose 0.55%. At the same time, the S&P 500 climbed 0.38%. The euro stood 0.06% lower against the dollar to sell for 1.18063. Nick Note: chill out you must get through this choppy stage. It is the norm when a market has gone through a major 10% correction and the bottom is in…. Welcome to the chop shop……. chop chop chop…