Essential Therapeutics (ETRX) formerly Microcide (MCDE Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Essential Therapeutics (ETRX) formerly Microcide (MCDE

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: John O'Neill who wrote (168)	11/7/1998 2:29:00 AM
From: WTDEC	Read Replies (1) of 415

JO, here is proof that it is better to be lucky than smart. I don't know anything definitive about the trial (but I have a lot of confidence in MCDE's scientists and management). Nevertheless, I doubled my position this morning near the low for the day in order to have a full position in the stock AFTER a planned sale in early December of my original $9 block for a tax loss. Tax rules require a 30 day wait to sell the original block and claim a loss (I think it is called the 'wash sale' rule) so I didn't plan to sell my original block until December. Alternatively, I could have sold the original block now and waited 30 days to buy it back (also ok for tax purposes) but I would have been out of the stock completely during a potentially exciting period. I was willing to hold a double load for the 30 days at these prices (not much downside) so I did that (options can also be used to do the tax thing). It was nice to see a great gain on my temporarily doubled position. Who knows, maybe by the time I can sell to take the loss, the loss will no longer be there! Now that would be REALLY LUCKY! :> Best regards, Walter

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next