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Technology Stocks : Citrix Systems (CTXS)
CTXS 103.900.0%Nov 2 5:00 PM EST
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To: Dana Johnson who wrote (5070)2/24/1998 9:55:00 PM
From: Al Chechatka  Read Replies (1) of 9068
 
The new tax laws of 1997 12 month is midterm capital gains (the old 28%)
and the 18 months is long term (20%). Under 12 months is short term,
I bought a few shares at $7.00 split-adjusted and I've been waiting
for Feb 27th to come. I have been writing covered calls against these
shares. So when I sell mine (I'll either get the 12 month or 18 month capital gains tax instead of my tax bracket). But my selling has no impact on how the company is doing. I am just taking profits. I just happen to think others will do the same.
Personally I am not going to sell at these prices but set a price of
$50. Not a bad return in a little over a year. I hope you see my
rationale. I also think a sell off will happen 6-10 months from now when the long term capital gains take effect.

Al.
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