2007 Settlement DateThese comments only apply to Cdn taxed traders of ticker SI on the TSX.
This years final trading day in order to crystallize a capital gain or loss for the Cdn 2007 tax year will be XMAS Eve. Orders filled on 24 Dec will settle on 31 Dec. So for those of you wishing to take advantage of this event be sure to enter your low ball bids soon as you never know when someone will enter a fairly significant market sell order.
The more longs that put in a buy order the more the potential that any dip will hopefully be minimal and not as drastic as the one we all experienced ealier this year. As you can see I'm trying to level the playing field amongst longs who post here as it is not really in our overall best interest to let the share price fall too far as a result of the typical recurring seasonal trading cycle. Not saying we are definitely going sub-25 cents however if we do then significant price support would definitely be in the vested interest of most of us. It's at times like this that retail investors must work together in order to protect their likely significant investment in Sirit.
However all bets are off on this suggestion if indeed some very significant shareholders decides to totally undermine the price by selling a very large amount of shares at the market.
It's your money and your decision...not mine.
· Christmas Eve - markets close at 1:00 p.m. ET
· Christmas Day - December 25, 2007
· Boxing Day - December 26, 2007