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Post by jdc1 on Dec 2, 2008 12:47:08 GMT -5
At 10:09 am 190000 shares were sold.
The volume today thus far is almost 250k. Not a normal day for DRV.
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Post by venturous on Dec 2, 2008 13:43:09 GMT -5
It might have to do with one of the posts which talks about opening up a $5k account that is tax free. So there might be some buying and selling or moving going on here.
ven
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Post by jdc1 on Dec 2, 2008 14:25:23 GMT -5
Interesting, I thought you could "transfer" the holdings into a TFSA without having to sell your shares first.
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Post by pasacancha on Dec 2, 2008 14:54:00 GMT -5
No it's not the TFSA's. Those aren't available until January. Re-read Tom's email about Tax loss selling. You can sell your shares to another family member, claiming a tax loss against gains from that past while keeping your shares (in the family). If you see a large volume trade between the same buyer and seller, then most likely that's what is going on. Taking advantage of tax loss selling while keeping your shares.
If you simply want to transfer shares from one account to the other (cash to rrsp or come Januray cash to TFSA) that can be done without buying/selling. In that case you usually get to chose a price using the days range on the day you transfer.
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Post by trainboy on Dec 2, 2008 23:20:41 GMT -5
If you want to sell your stock for tax loss purposes, you have to wait for 30 days before you can buy them back. Otherwise, the government will disallow the tax loss provision, IIRC.
However, one spouse can sell, and the other buy whenever they want, as long as their accounts are separate. This way, as pasacancha says, you can keep the stock in the family and claim a tax loss.
Trainboy
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Post by caveman on Dec 3, 2008 0:37:48 GMT -5
yea and i would be scared that in 30 days i wouldn't be able to buy back in at the same price. hard to believe i know but you don't know for sure! we are waiting patiently for pasa 1. why have we not heard from it yet? something has got to be going on. why waste a good result in december market?
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Post by trainboy on Dec 3, 2008 8:48:41 GMT -5
Maybe management wants to delay good news until early Jan. because good news now will just be swamped by the crappy market environment? Nothing like starting a new year with good news!
Trainboy
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Post by caveman on Dec 5, 2008 10:30:04 GMT -5
another big transfer goes through 09:56:58 V 0.14 -0.01 295,500 7 TD Sec 7 TD Sec K
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Post by trainboy on Dec 5, 2008 10:41:02 GMT -5
Yes, I noticed that too.
I wonder who is buying, but more interestingly, WHO is selling? It seems odd that someone would sell that many shares at such a low price. Can you need that little bit of money to cover any shortfall? Or is the stock going to fall further? (Much like the US bank rate, doesn't have much more room to drop!)
Trainboy
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Post by venturous on Dec 5, 2008 10:52:49 GMT -5
Trainboy,
Do you think maybe someone (Tom) is doing some tax selling? I think Pasa mentioned it above.
ven
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Post by jdc1 on Dec 5, 2008 10:53:18 GMT -5
The key here is same buyer, same seller.
It's tax loss selling. Arranged buy and seller (probably to a family member, such as a child or spouse with little or no income - less taxes to pay next year when DRV starts to move again) Plain and simple. That's why DRV is delaying the Pasa results (imho). No sense wasting the good results in this climate.
Nothings going to happen to this stock until the new year. Period.
Cheers
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Post by trainboy on Dec 5, 2008 11:25:11 GMT -5
Tax loss selling makes sense. Then we might see a further erosion in the SP for the rest of the year.
If the economy wasn't so bad, I might consider purchasing more shares at these prices.
Trainboy
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Post by caveman on Dec 5, 2008 12:05:48 GMT -5
trainboy one day you are gonna say "remember when we could have bought drv at 16 cents!"
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Post by venturous on Dec 5, 2008 14:57:02 GMT -5
Hopefully that isn't because we hit 5 cents. Ok, thats the end of my pessimistic attitude.
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Post by caveman on Dec 9, 2008 10:17:43 GMT -5
i was looking at pinetrees website. www.pinetreecapital.com/investees_name_current.aspmacmillan is no longer listed there and duran isn't either. i wonder if they were the ones responsible for the big mmg sell off before the merger as some were suspecting.
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Post by 4fun on Dec 12, 2008 18:08:55 GMT -5
Gentlemen if tax loss selling, you can't sell to a spouse as it triggers attribution rules. That is why the tax adviser mentioned a child or other family member. You can't sell and buy back within 30 days as that triggers a superficial loss. If you gift or loan money to a child income is attributed back to you but capital gains are not.
DRV will be selling at least in the twenties come January. That can be up 50% or more from these levels.
In January the tax loss selling will have ended, Obama will come to office and the RRSP season will arrive. We will also get drill results from the Passacancha. All this taken together should result in a higher price, especially if tax loss selling unwinds in the other direction.
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Post by jdc1 on Dec 13, 2008 10:48:52 GMT -5
Dec 24th is the last day for tax loss selling for 2008. That's why we usually get a little "Santa" rally in the last days of Dec. Come Jan, you can transfer $5000 into a TFSA ASAP (ie:before the SP gets any higher). At least those shares will grow tax free. Lets hope there'll be lots of growth in SP for DRV in 2009 Certainly, if they release 3 or 4 assay's with similar grades as the tunnel samples we'll see a higher SP in Jan.
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Post by caveman on Dec 13, 2008 11:56:47 GMT -5
it is nice to see you here 4fun and thanks for the info. jdc, trainboy had a good point too in the macmillan threads that if mmm is still not trading in january we could probably transfer our mmm shares into the tfsa accounts at zero value thus taking up none of the $5000 room.
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Post by trainboy on Dec 18, 2008 10:48:29 GMT -5
Wow, 234K shares traded as of 10:30am. Looks like the tax-loss selling season is upon us.
Trainboy
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Post by caveman on Dec 24, 2008 0:08:13 GMT -5
so if the 24th is the last tax selling day we are there.
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