PINL:OROCF - Post by User
Post by
eebleron Oct 31, 2018 11:47am
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Post# 28901555
Tax Loss Candidate
Tax Loss CandidateI was in ORL until the Argentinian govt announced their intent to levy export taxes, at which point I moved to the sideline to wait out the impact. Since then I have just been watching the share price erosion and trying to figure out if it is worth getting back in. At this point in the year, for anyone thinking that now is a good time to pile on, I would say that caution is probably warranted since tax loss selling is going to accelerate and ORL is a prime target. For the first part of the year ORL was turning over something like 150k-200k shares per day, and because it is essentially a 52-week low all shares bought before yesterday would qualify for tax loss selling. That would make for a lot of shares able to take advantage of tax losses. With the volume now down in the 35k-40k range, it is easy to see that investors wanting to exit are going to cause continued pressure. There might still be some short-term trades that can be played, but the overall trend suggests a continued drop into late December. If ORL hasn't been acquired by then, that is probably the time to start trying to figure out the viability of ORL.