Because moosie held onto SNAKK and DIL for a few months he sees himself as a holder not a trader.:)
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Because moosie held onto SNAKK and DIL for a few months he sees himself as a holder not a trader.:)
I am going to make a bold prediction :
There will be several big crossings at around 65c.
After that, the stock moves back up to at least 80c.
Often what happens with PEB is a quick spike, before falling back to it's major support level around 60c. It wouldn't surprise me if this happens again because people eventually look to fundamentals to judge value. And so far the fundamentals still say lots of potential, not many sales.
You bought with the specific purpose of selling in the short term for a profit so you would probably be caught by section CB4. This does not taint your long term holding.
http://www.legislation.govt.nz/act/p...LM1512409.html
Unfortunately his DIL losses are capital as he was a reformed man and bought for long term holding. The fact he has fallen off the band wagon is irrelevant as the timing for the "purpose test" is at the point of purchase.
I acknowledge that everyone ultimate intends to sell but any uncertainly in applying the rule is for long term holders, not for short term traders who are clearly caught. The IRD seems fairly happy with the short term/long term distinction at the moment. If I was an IRD inspector (and I am not), I would argue it is tax evasion (20% penalties) for short term traders not to return their profits. For mid term holders (ie. if you get caught on the wrong side of the grey area), you may get away with a smaller or no penalty but for short termers, it is pretty clear cut.
I dont want to get into a debate on this in this thread - there are threads on tax if anyone wants more robust discussion/arguments.
I'm thinking the same as you tummeric... so thinking to get in at the current sp, however, I'm thinking if I should wait till friday due to the traders, but then once again, who knows.
Missed out big time, would've wanted to buy at the opening on the annoucement date, but still on holiday.. Sighs..
At the risk of creating a bit of jocular hilarity ... and without getting all "apple pie-sh"...
I have been big in PEB since it was .24c (some years ago now) and I'm in for the long term. Apart from genuinely trying to lay a foundation for my retirement, the main catalyst for getting in was, I really have a deep belief in what they are trying to achieve in the cancer field. Their motivations are wholesome and they are doing something damn good for humanity (boy, is it needed). The reasons are exactly the same why I'm also big in CDY.
I have historically been an investor but have recently been trying my hand at trading - more as a side "play thing". Over the last couple of days as I've been watching and reading the rapid fire postings on this thread - (& the XRO thread), I've got close to pulling the PEB Buy Trigger to trade this stock. But for some reason I have not been able to do it. It sounds ridiculous, but I just don't see PEB as a trading stock for me. Because of the type of work they are doing it makes me feel like I'm somehow betraying them - treating them like a corporate wh*re I suppose. But I also know that without our trading friends, my retirement fund would never mature!
I can't believe I've written that lot ... oh well, it is what it is .... may the good times roll for everyone.
I had my first go at day trading today.
I managed to add 150 shares to my small holding and bank a few dollars too. Might try it again tomorrow.
Good on you Radler! and Congratz!
I've been doing some day trading in PEB yesterday and today, just about made back my Dil losses. I'm hoping to take a small profit tomorrow morning then buying back in near closing time where i hope traders take week profits etc. Haha i was thinking about buying PEB at 50c before the announcement as it hit my "want price" but got discouraged with DIL. Should have got back on the horse straight away like you said Moosie!