Seems like the market wants to test the 32SMA or near 1390 on the SP500.
As of today, after the ADP report, the bullish thesis is still intact.
But yesterday we began to see a short-term sentiment shift starting with the Fed minutes. The fed minutes were economically bullish. Today we are seeing follow through most likely due to the Spanish auction this morning. (This is allowing for US banks to consolidate.)
Interesting observation: A bit of a fake out this morning, as the markets were declining, cyclical names were firming up, providing support to the market. After the non-manufacturing ISM numbers were released everything collapsed again. I just thought the action was interesting.
This is unrelated to your comment.ReplyDelete
I purchased 100 shares of KMP in 2010 following your own purchase, and sold them at a profit last year. Do you understand how to treat the sale on the 1040? I can't see trying to get an accountant just for that, when otherwise I do my own tax return.
I'd love to hear any counsel you could give me.
I can't give advice on this cause I am not an accountant. With that said, my understanding of the LP distribution is that it is taxed at a full rate because of how the funds are distributed. (My understanding is that this distribution is not taxed before it is distributed to shareholders, like other dividends from a more traditional corporate structure. Hence the full tax rate.)ReplyDelete
But whatever service you are using for your taxes should have free consultants to utilize to help guide you for this issue.
Also, contrats on the gain!
Please ignore my prior comment. I found the form I need for the above in my tax package.ReplyDelete
Let me express my appreciation for your blog these past years.