I appreciate reading the postings that provide the technical tealeaf reading and the fundamental analysis, but I would like to suggest a reason for at least some of the current selloff of TSCO. Last year I took a $26K gain in TSCO and matched it up against a tax-loss carryforward. Although the fed return allows you to carry forward a loss forever, I live in a state that has a time limit on carryforwards. In other words, take the loss now or you lose it. State legislators, in their wisdom, could also change the law and saw off a year or two of carryforwards. Investors in states with high state tax levels (try California, for instance) should soak up those tax loss carryforwards. They could disappear. Sell offs are happening in many stocks that have had big run-ups this year. Early next year the prices of most of them will come back. P.
I was just about to post this theory also. I was talking to my broker yesterday and he said the exact same thing about his reasoning for the sell off. MMMMM. Maybe we are on to something here. He said that investors are locking in gains on stocks that have had a phenominal run up and off setting it with losses from previous years.