Tax loss selling certainly looks like a good bet based on volume and also, as you mentioned, the lack of any significant announcements recently; until today. Fairly strong positive movement today though :)
I was hoping that this stock wouldn't get hit with a downturn so late in december from tax loss selling. Being a relative novice, to you at least it appears, with only 4 months in the market and at about 2/3rds your age (still over 100% gain so far though <toot! toot!>) I am not versed enough in when exactly one should reasonably expect tax loss selling to start and end; there must be some type of average bell curve in Nov/Dec. Do you have any accumulated wisdom on this subject for a relative newbie which you would be willing to share?
Since I didn't mention my position in this stock in my last post and on review might of given the idea that I was remaining out altogether until later next year:
I bought some at 16 about 2 weeks ago when the chart was looking poised for a move. It's a pity it didn't go up first but, as always, I invest with both long and possible short term in mind. It didn't get far enough down for me to consider averaging down anyway, 12 would have been my average in point, and the recent rebound puts it back in the same range I purchased at.
Anyway, to discuss the long term prospects of this stock further, there is a strong chance that although earnings will almost definately be negative during the first half of 97 they will be quickly approaching profitability, barring any more large aquisitions, and the market will almost certainly respond to those positive looking numbers in a positive way. So we may see a fair increase in the price in the first half of the year.
I'm holding my limited stake for now but as the new year progresses more of the farm may become committed to this companies success. I expect my time to buy more will probably be in feb/mar, at latest, when some of the shorter term invests I have going reach a good exit point.
Ciao,
sMiles ~8-) |
