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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: w2j2 who wrote (19271)	11/10/1998 7:12:00 PM
From: Patrick A. Kelly	Read Replies (2) of 29386

Thank you Walter, but I didn't have enough patience and had to go shopping at $2.00---close enough to $1.63 in the big sceme of things! As an aside to the topic of averaging down, I am surprised at the absence of discussion on “loss harvesting”. There must be a professional term for this under the category of tax planning, but this one works for me. Is it such an elementary concept that our fellow investors think it goes without saying? ...as in :”If it goes without saying, let it!” I feel a need to discuss it when I read the high averages(cost basis) shared in some recent postings here. I find them to be way too high at this stage of the game and want to ask why some of us haven't replaced our pricey shares for the dirt cheap ones available now. Not many of us have wanted to be “out” of ANCR on the day that ANCR is “in”. The way I have been doing it is to buy the dips.....wait at least 31 days and then sell an equal number of my more expensive shares to offset the last purchase. The three advantages far outweigh the one risk! 1. I get to maintain my “on board” status at all times. (Obviously, this is an essential requirement to participate in any aspect of this investment, short of shorting.) 2. I capture and “bank” a tax loss of the difference in prices ( to be used later to offset my capital gain when the “second half/next year/whenever/any day now” event takes place) 3. The train just might leave the station while I am still in my 30 day “fat” position. (Maybe 4. - if it counts- you get to brag about how low you have finally been able to average down your cost basis from $41.00.) The risk: The stock may go down even further and you will lose even more than your internet privileges for a quarter!(just kidding, Corinne) Now, why all the bother and commissions? Simply, why not harvest something for our efforts, patience and financial ravagings. Though you can't buy even a penny stock with a pile of tax losses, they will be worth a bundle some day ---or so we choose to hope! Pat

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