Hi Steve, on cyclic reduction and creeping brackets: the reduction will be one cause of the creeping brackets. Portfolio Control will keep a portfolio about the same value, and allow it to grow. In combination with 'cyclic reduction' (=you get less and less shares when you buy and sell the same %), this makes for 'upward creeping brackets'. Same Share Value, less shares! I would guess that the brackets stop creeping upward when after a buy and a sell you have enough extra shares to compensate for the addition to PC. The ratio of the number of shares to PC after a buy/sell-cycle should remain constant. Let's say you have 1000 shares @ 10 and buy 100 @ 8.33. PC is now 10417. After your next sell, you would want to keep 1041/1042 shares, so you could only sell 5.3%. Or you could sell a little more (or less) to see the brackets creep upward (or downward). Just an idea, I didn't test it.
Regards,
Qarel
