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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Joe NYC who wrote (127084)	10/31/2000 1:49:51 PM
From: tejek	Read Replies (1) \| Respond to of 1583675

What is it about the October 31st and the tax selling? Why October 31st? Joe, It has to do with IRS provisions....I don't know the particulars but you must sell by the 31st if you want to show the loss on your next income tax statement. Its why October is always such a difficult month....the funds are selling off their losers and/or taking profits. And then after its over, typically (at least for the last 3 years), there is a rally. What has everyone nervous is that the rally is very late in coming this year. So who knows whats happening. ted

To: Joe NYC who wrote (127084)	10/31/2000 2:36:29 PM
From: Jim McMannis	Respond to of 1583675

RE:"What is it about the October 31st and the tax selling? Why October 31st?" A lot of fund years end on Oct 31st. They usually like to clear the books by then. The can then set the distributions if there are any. Then they start buying back after 30 days. That would put it at December 1 but the fact a lot stop selling takes a lot of pressure off the markets. Those that sold for a loss prior to 30 days ago will also start to buy. We may bump and grind a bit in November but the bottom could well have been in October... Of course, we will know when we look back as hind sight is 20-20. If Bush wins, Microsoft will likely lead us higher singlehandedly. <G> Jim