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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

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Nov 19 4:00 PM EST

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To: edward miller who wrote (47775)	4/23/2000 12:58:00 PM
From: Zeev Hed	Read Replies (1) of 99985

Edward, you are right as far as the "elimination" of the positive impact of tyrading and incentive options gains, but I believe the poster I responded to felt that massive losses would create tax shortages due to deduction of these losses against their regular income, where I think the impact is minimal. I have no idea how much of the revenue forecast includes taxation of capital gains, but I would doubt that the budget people put in much more than a 10 years moving average in the budget, so I see no deficits resulting from trading losses. Zeev

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