Amazon.com, Inc. (AMZN) Message Board

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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.94

-3.8%

3:15 PM EST

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To: Jerry A. Laska who wrote (32187)	1/2/1999 9:44:00 AM
From: Glenn D. Rudolph	Read Replies (1) of 164684

I believe people with a long interest in the thing that wanted to lock in their gain but not realize it until 99, could have, starting tuesday, boxed their long interest by selling shares short (but not their long shares) thereby preserving their gains thru last tuesday and leaving them neutral to the stock. They would then close the long and short positions on monday (normal settlement date) and thereby realize their gains in 1999. I guess the article could have been referring to this. Jerry, That would be a short against the box position created for tax purposes. The IRS has stopped permitting a tax "break" in this fashion for about three years now. Anyone who did this, will stay pay tax for fiscal 1998. Glenn

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