The Not-So-Jolly TaxpayerWith gold now trading at an astonishing $1525, Canaco shares have been underwater most of the day, but are now up a scorching penny...and a Canadian penny at that. Let's see, that's a gain for the day of about $US .0105 Where on earth will will spend our ill-gotten gains?
As I contemplate having to sell securities to pay the piper, it just occurred to me that perhaps I am not alone in having failed to stuff the piggy bank in the past year. Perhaps we are seeing the contra to tax-loss selling in the performance of securities iwth substantial 12 month gains. Far easier to sell a winner than a loser, for most, notwithstanding that is probably not too clever a strategy.
So with the coffers of Ottawa now bulging maybe we will see a rally come May. Yeah, right.