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Technology Stocks : OnSale Inc.
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To: robbie who wrote (3049)1/1/1999 3:31:00 PM
From: Colin Cody  Read Replies (1) of 4903
 
YES AND HERE'S ONE EXAMPLE:
Cost $20
decision to sell @ $40 yields a $20,000 ST gain with 1,000 shares.
This might be as much as $10,000 in various taxes. Taxes that might need to be paid anyway - in the future. But will be due 4/15/99 if the stock was sold in 1998.

That means the stock, if it drops to <$30 in 1999 would have been much better off being sold @ $40 and paying the taxes!

The odds that ONSL will drop below $30?? That's the RISK you have to weigh. Looking at my charts, I'd say we could see $29 next week. ONLY reason we wont would be a gap up first thing Monday morning. Otherwise all support breaks down when the price gets from $40 to about $39.93 or say $39.56.

Summary: IMO, taxes should NOT play as an important a roll with short term volatile stocks as should preservation of capital.

Colin
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