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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Suresh who wrote (24963)	1/29/2000 4:25:00 AM
From: Johnny Canuck	Respond to of 68279

>>Maximum federal tax is 39.6% (above 283K) + 9% state tax. For long >>term capital gains it is 20%. Ouch, boy is that high. You only have to earn about $50,000 in Canada to have most of your capital gains be taxed in the 50 percent tax level. Fortunately, only 75 percent of your capital gains is taxable. The government gives you a break on the rest. You used to let you have the first $100,000 tax free, but that was before I got out of university so I never did benefit from it. The cost cutting of the 80's did away with that tax exemption. I see your point about a lot of quality stocks sitting near their 50 day EMA's. With the lack of news on Monday and the Fed meeting on Wed., we may still get the opening gap though. I can gather that the headlines will be quite bearish this weekend and people will have all weekend to worry about how they are going to protect their spectacular gains. I don't expect the gap to last long, but if one is quick I think one can trade the intra-day bounce. I expect a pretty big battle on Monday. Let's see how it plays out. The funny thing is it would be better if the correction was fast and quick. This would create value for the retirement saving money to push the indices and stocks to new highs. Otherwises we will probably see a series of bounces supported by money inflow but with an overall downward bias in order to take the most money out of the market participants.