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Non-Tech : Invest / LTD
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To: Alski who wrote (11567)1/21/2000 8:46:00 AM
From: SJS  Read Replies (1) of 14427
 
Alski,

It's good to hear other here provide some guidance as well. I didn't think I did anything incorrect.

You're right. I didn't short in the classic sense, I shorted virtually and conceptually, as a thought exercise implemented via selling long stock I owned and buying it back cheaper.

Again, I have no margin buying power in my IRA account. Right again.
I don't have that problem of buying more stock than I can afford. I can't sleep at nite if I do that!! (I also don't go to the grocery store and buy more goods that I have cash in my pocket).

Right again on wash rules. I haven't sold my stock I bought back, but if I did at a loss it would have been a wash sale in a regular account. It isn't a regular account. My accountant agrees with you.

So.....I wonder what rule Thean mentioned is enforce at Waterhouse? I went over to www.sec.gov and got absolutely lost in the picopages of data.

Thanks for chiming in.

Steve
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