Forum Archive Index - March 2000

[Chris Darby <darby@ak.planet.gen.nz>]

Tony,

A key point that you have raised and one that partly contributes to the 
current market malaise.  I would go further and suggest that the new high 
income tax rates which apply from April 1 are motivating those affected 
to book their taxable profits now and re-enter the market in April as you 
suggest.

Keep in mind too that a whole host of stocks go ex div on 20 & 27 March 
with most paying  by the 31st except Fletchers on 3 April.  The failure 
of Fletchers to bring their payment date forward like every other company 
may expose FLB & FEG to a more intense sell-off in the short term.  
Buying opportunities of course.      




I wonder if traders realising losing positions on the run-up to 31 March 
to gain tax credit, then re-buying on 1st April will cause any blips in 
the spec stocks ??

Regards

Tony Haddon

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