Friday, December 29, 2006

 

Tax Loss Selling

Today is the last day to admit you fucked up on a trade, bite the bullet and eat the loss-- like a man.

For me, it makes lots of sense to book the oil trade loss-- as many hedgies are doing today.

Reason being: They all trade in a convoy. Why not sell UPL or VLO and buy TSO or CEO first thing next week?

Within the oil patch, it doesn't make any sense to hold the loss. That's why the sector got poleaxed this week. Moreover, they will probably rebound nicely--sometime soon.

# posted by Broker A @ 1:51 PM
Comments:
What is your thoughts on NDAQ 30% drop this month? I am thinking about adding to my position. Thanks.
# posted by Anonymous Anonymous : 2:53 PM
 
I own it too. I will add to my position next year.
# posted by Blogger Broker A : 3:04 PM
 
Post a Comment



<< Home

This page is powered by Blogger. Isn't yours?

 Subscribe in a reader

DISCLAIMER: This is a personal web site, reflecting the opinions of its author. It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.