Day traders' weekend lounge May 6 - 8, page-90

  1. 1,721 Posts.
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    Hi OM -

    Although nicely suggested by @Veritas2000 that I may be able to give you some general advice - I have to say that I've been out of the tax tips game for 15 years+ now, since being "retired" involuntarily.
    I only trade now as an ATO classified trader.
    Perhaps if you want a 2nd opinion from 1 of those "tax return advice companies" whose TV ads come out of the woodwork between now & mid to late July it could be worth your while to consult them once. A h and r chopping could be a cryptic clue for you.
    However, as for clearing out long-lingering unrealised trading losses - which some traders do, for tax purposes - you could crystallise them now - into realised losses - by selling some of them now, that according to your charts, are continuing to drift down in price for some unknown short term period. ("Sell in May and go away").
    Once you see them begin to bottom, & then level out sideways, buy back, those you want to resume ownership of, during mid to late June, once all the tax-loss selling appears to have ended in your chosen stocks, &/or you see their SP begin to trend slightly upward from the base.
    Always keep in mind too, that on the last trading day of the Financial Year, Thursday 30 June, is when all the fund managers will buy, holus bolus, in order to boost the valuations of each of the holdings in their funds' members accounts, & in turn their personal "performance" bonuses for the FY.
 
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