Please note that last date for tax loss selling is Wed Dec 26............on US exchange !!!
In Canada it is Monday Dec 24th........as Canadian Exchange are closed on 26 to celebrate Boxing day...
Why these dates are important ??????
Because....if you are planning to buy or SELL any stock.....
Investors & traders will be looking to book GAINS or LOSS on/by those days.....
So a little pre-planning to buy or sell MAY be a very good idea.......
So......if you are planning to sell any stock on US exchange.....it may be profitable to do so on Monday the 24th.......
Conversely.....if you are planning to buy any stock on US exchange.....you MAY get it CHEAPER on 26th.....when everybody is trying to lock gains or lock loss......thus a downward pressure on stocks.......that is the THEORY anyway...whether it pans out or NOT....it depends on what the overall market wants to do......stocks generally follow market trends.......
Also..... there MAY be buying pressure on strong stocks...thus prices may be HIGHER......@ best wall street is a crap shoot........
@ least..... you can factor one MORE thing in your decision making !!!!!
Who said......it is EASY to make MONEY on Wall Street !!!!!
BLOG does NOT give buy or sell.
Saleem
Thanks for the helpful post Saleem. This is just the kind of situation where your experience is greatly appreciated. Doug...
ReplyDeleteSaleem, I thought I would share that IH thinks that China stocks are getting ready to pop up soon, as they have been correcting... Here is their email for an alert to buy CMED and EDU. Talk soon, Doug...
ReplyDeletePlay Date: 12/22/2007
CMED (China Medical Technologies--$43.53; +0.07; optionable): Chinese medical instruments
http://biz.yahoo.com/p/c/cmed.html
EARNINGS: Third week of January
STATUS: Reverse head and shoulders. After another test toward the 90 day SMA (39.72) to start last week, CMED rebounded to continue the work on its 11 week base. Not a lot of volume on the week as it rebounded, but still a solid pattern and we are looking for CMED to test briefly above the 10 day EMA (42.76) and then to break higher. Want to see volume bump up a bit on that move and then we step in.
Volume: 203.115K Avg Volume: 640.032K
BUY POINT: $44.05 Volume=1M Target=$54.95 Stop=$41.94
POSITION: QCY CI - Mar. $45c (55 delta) &/or Stock
Play Date: 12/22/2007
EDU (New Oriental Education & Tech--$83.26; +5.13; optionable): Chinese education and training services
http://biz.yahoo.com/p/e/edu.html
EARNINGS: Mid-January
STATUS: Ascending base. EDU ended the week with a bounce off the 50 day EMA (75.51). This is the second bounce off of this level during its 10 week base, making a higher low as it did. Can run like a deer when it gets rolling, and looking at positions as EDU continues the bounce off the 50 day.
Volume: 440.005K Avg Volume: 620.031K
BUY POINT: $83.88 Volume=700K Target=$99.95 Stop=$79.92
POSITION: EDU DQ - Apr. $85c (52 delta) &/or Stock
Hi Doug,
ReplyDeleteThanks for your ongoing appreciation of this BLOG....
Being helpful is always nice.
If my post helps even one person....then my effort is worth it !!!
Based on feedback I DO know ...it helps MANY !!!
Saleem
Hi Doug,
ReplyDeleteThanks for your post re CMED & EDU.....
Unless I see VOLUME in CMED...I suggest staying OUT.
Saleem
Saleem, Do you think LDK bottom has reached... there is lot of negative articles being published, but maybe this is the very reason to buy.. what do you think...
ReplyDeleteHi Troy,
ReplyDeleteLDK should be very close to bottom today.....
I personally do NOT see it go below $39 this time around.....
$41 could be a very good entry point.....
It may stop going down around $32 area....
Low target of analyst PJ is $35...which I doubt we will see.
I am not very good @ predicting bottom.....but deeply oversold we will get TODAY !!
Saleem
SALEEM
ReplyDeleteSOLF is on FIRE
WOW any idea as to what lit the fire??
Congradualtions on another fine pick
MADMAX
Hi Madmax,
ReplyDeleteSOLF is very strong as per my reading of chart...that was the-reason for my purchase 3 days in a row.....
Saleem