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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (21650)11/25/1998 1:23:00 PM
From: J. P.  Read Replies (1) of 50167
 
Hi IQ, RE: Rest of this year

There is a lot of talk about year end tax selling. Also, there is talk about this rally having gone too far too fast. I see things play out the rest of the year a little differently. I think that those that were going to sell obviously did so during the darkest hours of the September/October market slump. The big mutual funds then started buying again during the subsequent big rally we've seen since October 17. We're basically back just above the 200 DMA. Now why would a mutual fund manager, who's seen nice capital gains since October 17, sell en masse at this point to incur large capital gains taxes at the very end of the year? Thus, I don't think we'll see any big selling in December, but we may see a big selloff in early January.

I know that the last thing I want to do is sell for capital gains right now, and have to pay hefty taxes, when I can sell in January and keep the money for another year as investment capital. What are your thoughts on this.

Thanks
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