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Gold/Mining/Energy : Tax Loss Selling Season - Best Buys?
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To: dan wynne who wrote (2)11/8/1997 7:37:00 AM
From: Bob Fairchild   of 128
 
You can take the loss at anytime in Canada. December tends to be a good month for dumping losers. It has a lot to do with cleaning the dogs out of one's portfolio and starting fresh for the new year, needing cash for Christmas, and because some people are hoping for a miracle before the end of the year on their losers that they tend to hold onto them until the very end. When the turnaround in share price does not occur, the selling begins. Unfortunately other people have the same idea and the stock drops further. On the other hand, it is a good time to bottom fish for shares that have been oversold. Because of the Bre-X thing, this year may be different as I believe the tax loss selling has been in effect since the spring and will not be so pronounced this year with respect to mining companies. A Canadian point of view.
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