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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Cohen who wrote (18394)	2/20/2000 3:27:00 PM
From: mooter775	Respond to of 27311

Robert, I thought the same thing..

To: Robert Cohen who wrote (18394)	2/20/2000 3:32:00 PM
From: Robert Cohen	Read Replies (2) \| Respond to of 27311

Tax considerations regarding buying puts to hedge a long position. After I returned from the meeting I received the following clarification. Assume you hold the stock long and the holding period is great enough to qualify your gains as long term. In this case the purchase of puts does not affect the holding period and therefore the the long position still remains long term from a tax consideration. On the othe hand let's assume that you have a long position that you have only held for 5 months. You now buy protective puts against that position. In this case the "clock" starts over at the time the puts expire. At least this is my understanding. Please consult your tax attorney or accountant for confirmation.