Hi guys, we have a 3 hr time difference out here in BC. It doesn't seem that the shopping is that hectic yet.
I'm just guessing reif but if Merrill's mutual funds transfered stock from their X fund to their Y fund at $21, then they can transfer it back now and claim a tax loss, and since it's in their family of funds it's never left to go into public hands. Now besides that, somebody had to buy at $21 and they're down a few bucks and it might be to their advantage to sell for tax purposes I suppose. That's life, they sell I buy. And no it doesn't scare me. As the stock goes down you have to remember that some people put on stop losses and the traders (with the equipment) can see these and will take them out. Sometimes when a company does a stock buy back they're finished growing for a while and want to improve the balance sheet. Growth is where the money flows have been going lately. An we are certainly not in a momentum stock. I could go on and on about the fundamentals but I think ric has it right, Extendicare could get taken out here and it wont go for no $18C that's for sure.
[I'm trying to think of the big losers this year and the tax loss selling with the bounce that will come in January?]
That's the way I thought it worked. Pmoll, I'm wondering why you referred to funds 'tax loss selling' of EXE a few days ago. They should not be big losers unless they purchased it quite recently. Would they turn right around and sell just for the tax loss? The other alternative you gave is that EXE is in a 'real' downtrend. Does it scare you at all that this drop continues even though a buyback was announced? Because it does me.
U finished shopping already? i have done almost all mine on the net this year. hmmmmmm still waiting on orcl No the most i can hammer this stock at is 10k at a time but then i have to be liquid at the time--maybe get up to 40k next year--who knows Exe, g tih cae ata aty and terribly nlg have been the ones I have been mucking around with this season. Im trying to think of the big losers this year and the tax loss selling with the bounce that will come in January? any suggestions have a great weekend
No, I sure did not. I don't play the market on a daily, weekly, or monthly basis, for the most part; that's a fool's game. The only winner in timing the market on a short-term basis is the broker handling the trades, whether it be full service or otherwise.
I going to stay off this board because I believe responding to your dangerous ideas about the market, and stocks in general (Nokia, come on, phones are fast become a commodity.... "buy our phone service and we'll send you four cellphones free,"...just like pc's have become.) lend those ideas some credance. I suppose that's why you have this board to yourself.