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To: Uncle Frank who wrote (57254)	12/28/1999 6:03:00 PM
From: Martin Atogho	Respond to of 152472

UF, Hard to say what was the reason for the selloff now since Cnbc did infact correct themselves by saying buying/selling to the 31st could go on and still be counted in as part of the tax year, even if accounts are consequently settled a few days into the new year. I just hope it goes back up, in the long term. Happy Gging.

To: Uncle Frank who wrote (57254)	12/28/1999 6:31:00 PM
From: RocketMan	Read Replies (1) \| Respond to of 152472

Consider that this was the last day for 1999 tax selling UF, there has been some confusion about this. I know CNBC reported this, and I heard it as well, both on CNBC and on a local radio show. However, as has been pointed out by tax knowledgeable people on this thread, and apparently has been corrected by CNBC, you pay taxes based on when you sell, not when you settle. In either case, I'm not sure the mutual funds were responsible for that selling. I believe they would ask for their orders to be executed at market close, and would ask the specialists and MMs to work their large orders, rather than dump them and drive the price down on themselves. I don't think anyone can know exactly what happened in the last hour, but given the synchronized nature of it, it was either a large sell program or an orchestrated move by the MMs, something they did several times last spring when they brought the market down after large run-ups, when they found themselves dangerously short. But, who knows?