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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON?
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To: BarbaraT who wrote (3500)8/21/1998 8:02:00 PM
From: John S. Baker  Read Replies (2) of 6931
 
How about a "buy and swap" procedure? Say, for the sake of argument, that one has 100,000 shares of TSIS at an average price of 50 cents. He buys another 100,000 at 35 cents. Thirty days later, he sells 100,000.


If the price is still 35 cents, he designates that he sold the "first lot" and has a nice tax loss which means that Uncle Sam has helped him average down his basis.


If the price has gone back up, he designates the "second lot" and logs a profit for this FY.


Outside of the obvious possibility that the price might go down even further, what is wrong with this strategy?


On the face of it, it seems like a useful strategy for those companies in whom I have great confidence but whose shares are now worth less than what I paid for them.


JSb.
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