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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: Toby Zidle who wrote (2612)	7/21/1999 6:12:00 PM
From: Trader Dave	Read Replies (1) \| Respond to of 3818

here's why your scenario doesn't work for me as well: Taxes. economically, selling a slug at $83 and re-buying at $75 is a disaster. Even with a long term holding state and local taxes combine for a 30% uncle sam payment on the gain. Buy and hold works best for us. We kind of did the same thing though. When it ran up so much, i bought a mess of puts. Won't be writing covered calls on PMCS again though, I'm done with that, doesn't protect us enough.