GREY:NKRSF - Post by User
Comment by
Stingray2000on Jan 04, 2013 4:36pm
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Post# 20799740
RE: RE: RE: over 11
RE: RE: RE: over 11 gladly...income tax selling for loss cuts off on December 24th...so anyone that was selling during the month of December SPECIFICALLY to lock in a tax loss MUST wait 30days to ""officially lock-in"" those losses before they are allowed to own the stock again.
So very simply, using a small window of time as a sample, lets say every trading day from december 4th to the 24th there was an abundance of stockholders excercising their right to establish a loss, so they were blowing the stock out daily all throughout this period, thus driving the price down THEN starting on January 4th/5th and every single trading day hereafter up until the 24th/25th of January I expect to see many of those very same tax sellers RE-BUYING there positions......thus driving price upwards...think about it, every trading day from now and until the 24th of January someones 30day wait expires and they'll be seeking their entry back into the market. .
Anyone that was scooping the low hanging fruit in the $8 and $9 range all along the sell-off, is very happy at this point as now the effect seems to be coming to fruition...TIME THAT with more speculators buying in with the anticipation of some successful drill hit news around the end of January beginning of February...well its MY opininion this is the perfect storm to own this stock right now.