Thursday, December 28, 2006
The final trading day of 2006
Up 0.2 percent today. Tomorrow will be the last trading day of 2006. In the past, the last day of the year has brought all sorts of surprises for microcap investors. First, you have the tax loss sellers who procrastinate about dumping their losers until the final hours and then finally relent and send in market orders to sell at any price. As an investor who tends to buy stocks that are closer to their 52 week lows than to their 52 week highs, that often spells trouble for me. On the other hand, you also have hedge fund managers who like to run up stocks in order to 'mark to market' for higher fees. Plus, there are the early bird January effect traders who will be looking for bargains as the new year approaches. All in all, tomorrow should be interesting. I'll be back after the close with my 'annual report'.