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IBDvalueinvestin (99.68)

Tax Refund Rally Week #2 under way.

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March 28, 2011 – Comments (3) | RELATED TICKERS: SPY , TNA , SPXL

Every year  except for a few occasions like (year 2000) stocks rally for 6 weeks between March 16 & May 1st.

I call this the Tax Refund Rally.

This year I expect more of the same because stocks have made a correction prior to the rally because of the Libya and Japan scare. That will give even more reason for refund money to be used in buying bargains that were made from the two scares.

 

IRA Contribution Limits in 2011 = $5,000 annual limit ($6,000 if 50 years of age and above)

If your getting a refund you can put up to $6000 into your IRA if your 50yrs or older.

3 Comments – Post Your Own

#1) On March 28, 2011 at 5:17 PM, guiron (20.22) wrote:

If you haven't maxed out yet, it's still possible to contribute to your 2010 IRA until April 18.

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#2) On March 28, 2011 at 5:59 PM, guiron (20.22) wrote:

Well, that wasn't very clear of me ...

That is to say, it's possible to contribute to your IRA for tax year 2010 until April 18 if you haven't maxed out your contributions for that year. If you contribute to a Roth there may not be an immediate tax advantage, but contributions to a regular IRA may be considered a tax deduction for the year you claim (depending on tax status, income, employer plans, etc.).

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#3) On March 28, 2011 at 7:10 PM, davejh23 (< 20) wrote:

"Every year except for a few occasions like (year 2000)..."

...2004 was weak, 2002 declined.  Going back to pre-bubble blowing days:  1994 was terrible, 1993 was terrible, 1992 wasn't so hot, 1990 saw a decline, 1988 was flat, etc...  You don't have to go back very far to see that there is no consistent long term pattern here.

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