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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: kendall harmon who wrote (36966)	10/1/2000 12:33:24 AM
From: Rande Is	Read Replies (1) \| Respond to of 57584

. . . RE: WASH SALE. . . . . . Kendall, Thanks for bringing up the Wash Sale Rule. I fully understand it. However in the context of my post it was not worth explaining further. It was only brought up to demonstrate the thinking of the fund managers with regard to their tax loss selling. And yes, wash sale rules apply to funds. Perhaps 90 percent of those that read this board understand it fully as well. However, if you have noticed, I tend to throw ideas and concepts out there for the benefit of the 10 percent who do not fully understand it. That way they can jump on the internet and look it up and learn about it. I do appreciate your drawing attention to it. However, I would not accept tax advise over the net, unless by a licensed tax professional. Once more, I really don't respect the Street.com in any way. They consistently fail to do their homework and research, satisfied to give one sided tunnel vision views. No way would I trust their research on taxes. About Wash Sale Rule: When it comes to something as important as tax advise, there are only two proper ways to advise readers. . . . To learn about things such as the Wash Sale Rule, first, "Consult your tax advisor" or second, link directly to the IRS: ftp.fedworld.gov [This is an Acrobat .pdf file, so some of you may need to first download Adobe Acrobat from the Adobe website before proceeding. Page 51 begins the official explanation of Wash Sales.] Thanks again, Rande Is

To: kendall harmon who wrote (36966)	10/1/2000 1:27:45 AM
From: thecatwoman_	Respond to of 57584

kendall, thanks for the qualification. it is just so misunderstood how traders can be beneficiaries of these misinterpretations-- basically, the bottom line is cost averaging the purchase, to offset any losses or gains(in the particular security, for specific annual reconciliation). what should be of more concern are actions immediately preceding the end of the year. too many people, i speak with, are bound by this, excluding money managers--and only to put the pumpkin on the window. regards laura

To: kendall harmon who wrote (36966)	10/1/2000 5:22:37 PM
From: American Spirit	Read Replies (1) \| Respond to of 57584

October sell-off has happened in September this year. Going to be choppy but expect some sharp rallies. I've got some big paper losses by holding through last month but notice the tech value telcos shooting up (finally) during the 100+ point sell-offs. Also expectations have been lowered so much for stocks which have already fallen 70% from recent highs that there is little risk of missing quarters going forward. Of course this isn't true for every stock but you know which ones I like. Add LOR to that list by the way at $6 a share. Another bargain. If I had to buy five stocks though I'd load up on LU, WCOM, UIS, IBM and VZ. All their brethren qualify as well. PS - I have to learn how to unload with small losses when I KNOW the market is going lower, then buy back cheaper. My bistake recently. Now I'm in a hole. I'm pretty damn sure I'll get my money back but I've missed out on the profit potential. I should also learn how to short maybe. Hmmm. Anyway very comfortable holding my beaten down telcos and software stocks and would buy a ton more if I could. Good luck everyone. Should be a pretty good October and a big November esp if Gore wins. The market likes the status quo. Gore has the slight edge now in electoral votes but anything could happen.