As I said before, long term investors don't care about the $400 or $500 dollars quich turnaround, but the day traders would have no hesitation in doing it.
After all that is what they are doing (mostly for a living), on a day to day basis, and any profit is a profit and much better than a loss.
But, like you I am not in for the few hundred dollars. I am in for the long term and possibly for many many thousands of dollars profits in the end.
Beside, if you hold for more than 12 months, and it happens that you make a profit on the disposal of your shares, you also have the advantage of using the Capital Gains Tax Relief Provision, (IF YOU TRADE AS AN INDIVIDUAL), which would give you entitlement to a 50% discount on any of the Capital Gains Tax you made on the sale.
That advantage is not allowed to day traders either, because it fall within the normal earnings of that individual.
IMHO, I know which way I like to be doing things, but, to each his own.
Buddy
ADY Price at posting:
8.5¢ Sentiment: None Disclosure: Held
