Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 268.87

+4.6%

Jan 2 9:30 AM EST

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To: Tom B who wrote (13247)	12/14/1997 10:37:00 AM
From: David R. Colby	of 70976

I've got to believe - and this is just opinion - that there is much tax selling going on. As one sage Californian said to me, "show me an investor who hasn't made money in the market in the last 5 years and I will show you an idiot." If I bought AMAT at 29, have tons of capital gains for '97, why not sell the 25 March or April put and unload the shares at 26 or 27 to offset losses? Unfortunately the techs - being more volitile than most stocks - get hit more at year end. We are in a short term phenomia and will recover, again, just IMHO. One of the terrible falacies of our tax system allows is the concept of creating a loss to preserve gains. We badly need, not code revisions and a kinder, gentler IRS, but a total overhaul of the system. dave colby

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