Minimize Your Capital Gains Tax

Mark Price, writing on PT-News, here, says,

"A famous strategy used by stock investors is to purchase when price exceeds its 52-week high, or to sell when price tumbles below its 52-week low."

It shouldn't take a degree in finance or business administration - which I have - to realize that this is spectacularly stupid.  And yet ... it is a strategy that is guaranteed to minimize your capital gains tax because it seems guaranteed to give you capital losses.

If I buy when a stock is at its 52 week high, and sell when it's at its 52 week low, then I'll lose money.

On the other hand, if I buy from you when a stock is at its high, then you make money. If I sell to you when it's low, you make more money.  Hmm. Maybe Mark Price isn't so stupid. Maybe he's just a crook.

Maybe I'm being cynical. But something seems, well, fishy. Maybe it's because I recently read Ken Fisher's How to Smell a Rat, the Five Signs of Financial Fraud, (here) and because I was listening to "On Point" this evening - Crooked Bankers - about 'Banksters.'  Maybe it's that the "About Us" page says,

"All of our writers come from strong journalistic backgrounds and are always available to be contacted with any questions, comments, or concerns." 

Far be it for me to correct the professional writers at Potential Traders, but I think it should say "journalism backgrounds," not "journalistic backgrounds." The lack of American English usage, and the logo - a bull positioned on the left of the banner and facing left - raise red flags.