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The Dropping Knife


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By my feeble memory, any selling today settles in 2004.

 

It's OK to start selling, bulls. Uncle Sam won't come knocking 'till 2005. You know taxes can only go higher. Go ahead, take some profits...you'll enjoy the feeling...after all, you've been on crack for sooooooo long. 

 

-Stoolaholics Anomalous

Wrong. Trade date is used for tax purposes in most instances. It's why I don't think we'll see any apprteciable selling until January. At that point they've put off the tax man for over a year.

 

In those instances where settlement date is used, last Friday would have been the last day. But in most instances, trade date is valid for J6P.

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Technically, it would be important for the Naz to close below 2,000 today, to repeat the "Naz 5K syndrome" of Y2K when there was only one close above the big round number.

Yahoo shows 2 days above 5K close

 

Open High Low Close

10-Mar-00 5,060.34 5,132.52 5,039.35 5,048.62

9-Mar-00 4,913.08 5,047.96 4,857.57 5,046.86

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