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Non-Tech : APCO Automobile Protection Company
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To: Ryan Plovie (Hijacked) who wrote (1451)3/6/1998 11:41:00 PM
From: Phil Jacobson  Read Replies (1) of 3351
 
>> I sold at 9 3/4, waiting for a pull back into the high 8's <<

Ryan, I envy your conviction - you're betting some real money on this! There needs to be a huge drop to justify paying taxes on ordinary income instead of capital gains rates on a stock that will dip only temporarily. If you think APCO's got 12-18 months of appreciation ahead of it (which I think is pretty clear) and that you'll be holding a position in it for a long time, then I think it's better to buy more on the dips and hold your base. You're throwing approx. 25% of your after tax profit out the window by turning this over.

If you're just a straight trader, then fine, but most people have at least a few stocks they think are worth holding, and taxes come into play there.

Regards,

Phil
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