With the onset of late autumn, we expect to see the habitual seasonality of common stock pricing, tax loss selling and portfolio realignment, ahead of year end 2003 and the usual Santa Claus rally.
As always, during this two month span between now and New Years, securities activities are largely precipitated by unwieldy institutional investment committees, fatigued, disappointed and impatient investors, etc. Often, these emotional financial decisions lead to excellent risk/reward opportunities to those investors who remain alert to short term price anomalies created by these motivated sellers.
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