Concern over market effects from recent speculation by small investors acting in a concerted effort has some market watchers apprehensive. We are talking GameStop and Robinhood here. Extra cash and low interest rates has money looking for a home. This seems to have led some to gambling for short term gains in the stock market. These are not investors but day traders looking to take advantage of opportunities in a volatile market. Any effect of this activity on the whole stock market is expected to be short term.
Preparing for income taxes: TD Ameritrade has mailed 1099-R reports regarding any 2020 withdrawals from IRA accounts. For non-IRA accounts, TD Ameritrade dividend and cap gain 1099 reports, including cost basis data, will be available online and mailed to you by mid-February. If you need a copy of any TDA report, our office can retrieve it online and mail/email/fax it to you or your tax preparer. We are happy to assist you with all of this.
With a drop at the end, January stock markets lost the gains of the month to close slightly down. Some market segments, small company stocks in particular, closed the month with significant gains. Health care, utilities and real estate sectors also closed January on the upside. The main stock indices averaged a -0.98% drop for the month.
When winters are dry and mild we can forget how brilliant the sun is on a snow cover. And the full moon’s surprise on a snowy landscape. A leak in the polar vortex spilled arctic air on us to end January with true New England winter cold. Being jolted, by both beauty and the harsh, keeps us astounded and more alive.
