6% One Day Return: Followup on the Tax Loss Stocks

On New Years Day, January 1, a few days ago, I wrote about two tax loss stocks. One was Profire Energy (PFIE) and the other was U. S. Silica Holdings (SLCA). A tax loss stock is a stock that has been beaten down at the end of the year due to investors selling a stock trading at a loss in order to create a deduction to offset capital gains.

If you had placed a market order to buy Profire Energy (PFIE) on the open of the market on January 2, you would have paid 2.34, and even if you had waited half an hour after the market opened, you may have paid as low as 2.28 per share. If you had sold at the close of the day, you would have sold for 2.48 per share. So from the open to close, a day trader would have made a 6 percent profit. Not a bad return for one day. Over the long term, this stock could continue to do well, as it has solid financials.

The other stock, U. S. Silica Holdings (SLCA), you could have placed a market order at the open and paid 25.39. It also traded down for a while during the first hour of trading, but ended up closing at 26.51. Open to close, a return of 4.4% return.

This is on a day when both the S&P 500 and the NASDAQ were down for the day.

For more stock ideas, check out the numerous lists of stocks at WallStreetNewsNetwork.com.

By Stockerblog.com