To: Michael Bidder who wrote (1239 ) 8/27/1998 1:50:00 AM From: Mike G Read Replies (1) | Respond to
Michael, there is no point in selling now, it is so low, unfortunately so are all of my other resource based stocks. The VSE has hit a record low of under 425 points, the TSE and DOW are dropping, but as most people know if you try to time the market you most often lose, but holding for the long term usually pays off. The Canadian dollar also dropped into the .63 range. It seems to me that in Canada if a company goes out of business you can write off the loss against income, whereas if you sell and take a loss, you have to write it off against capital gains. I would lose less money if the company went out of business than I would by selling now because of tax credits.
