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Technology Stocks : SkyMall (SKYM)
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To: Jules B. Garfunkel who wrote (510)12/28/1998 6:09:00 PM
From: Arrow Hd.  Read Replies (1) of 987
 
I still have SKYM. I would love to get into 1999 before I unload but
may not wait. The Tax Simplification Act of 1997 changed the
accounting rule from either trade date or settlement date (as long as
you consistently use it for all trades that year) to only trade date
so there is no opportunity to sell tomorrow using the 1999 settlement
date. But I pay on an estimated basis anyway so if I follow all the
rules I am only delaying a quarter not 15 months. Anyway, nice
problem to have. It closed up as shorts covered before the trading
day ended. Some shorts really got their balls cut off over the
weekend. Gapped up big time and only traded down to 22 from 12 and
change. So I see a stair step here with it trading wildly but moving
up on balance. But tomorrow will tell. If it doesnt get driven up
early by the day traders then there are problems and even with that
to continue the frenzy we would need to see something in the 50s by
mid day. PTEC has an analyst meeting on January 12th with earnings
on the 15th according to a post. What is your view? Will there be
potential for an upside surprise? Will the CEO say positive things
at the conference or is he bland? I have a number of other companies
I may want to rotate into for better results but will stay with PTEC
if you think the first few weeks of the new year will bring positive
spin. Thanks in advance.
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