I believe you're right about trades executed in 1998 being taxed in 1998.
Please forgive the following opinionated blather.
ONSL's recent moves tend to be violent and they tend to follow some event (i.e. news stories). And that is controlled (to some extent) by the company. It doesn't always follow the leaders. Thus, ONSL's management is -- in some regard -- managing the stock's rise. And doing so somewhat more responsibly than some of the other i-net companies I follow. In addition, there are a lot of people (many of the posters on this thread, for example), waiting on the sideline with cash (or already short) ready to jump in (or to cover) if they see a rally developing. There is a lot of money on the sideline and ONSL is on the radar list. The move from the 20s to triple digits had a heck of an impact. The internet stocks are popular. The market has never seen the sorts of moves we are seeing now. And that brings in a lot of the "get rich quick" crowd -- both on the long and short side. Rumors are rampant. Just read the YHOO thread to hear that (1) ONSL will soon be partnering up with some high-end auctioneer, and (2) a news release will be coming Thursday on a contract for ONSL to sell all excess HP computers. But rumors are rumors and personally I don't trust any one of them until they are verified by a news release. Obviously, there are other news releases that people are waiting for as well (B2B) that could have a dramatic impact on the stock price. That said, a selloff in the internet heavyweights will certainly damage ONSL in the short term and scare a lot of the weak hands out. Maybe it will occur in January. Maybe not. I don't know. A lot of people think deflation of some of the more overweight stocks is imminent. (Indeed, people have wrongly been predicting such a crash ever since AOL was in the teens). They'll come after ONSL (they're already here) because the stock has more than doubled the last couple months. I write this post (and others) because I know how hard it is to be in a stock that's being jerked around. My advise -- for whatever its worth? Be cautious. Stay away from margin. And trust your instincts. Don't get carried away by either your fear or your greed. Try to understand how the game is played -- for better or worse. If you believe in the long term prospects of ONSL, then don't let the violent swings keep you awake at night. Or use stop/losses to limit your losses. But remember, just as soon as it is 40, it can be in the 70s again. (Just watch) Unfortunately for long term holders, this is all just the way it is for ONSL right now. Good luck.
Just my opinion. |
