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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

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Nov 28 4:00 PM EST

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To: Hank Stamper who wrote (60230)	10/9/2000 6:06:52 PM
From: KymarFye	Read Replies (1) of 99985

Tax loss selling doesn't apply to true momentum traders: We take our profits and losses, and figure they'll be taxed at the short-term rate. The investors you're talking about are a different group. As I conceded, their losses, and probably more important those of fund managers, may contribute to greater pressure than in previous years, but I still think that those retail investors who haven't already bailed out are more likely to hang on up to the bitter end (if that's what it comes to). In my observation and experience what Magee and Edwards wrote about the typical American investor's unwillingness to take a loss still holds true.

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