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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: Patrice Gigahurtz who wrote (5277)	11/10/2000 7:09:30 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 5650

Patrice; Well I just got into PSIX , so our situation is a world apart, on top of that I only have a cost of $1.15 a share counting commissions. I have plans to hold it for $5 or 2 years and maybe add more if I can get more cheaper. ---------------- Now regarding your situation; RE . I'd hate to carry this much paper loss in PSIX over into 2001yr though and so I'm hoping that something positive breaks for this stock before 12/31/00, right now I'm kicking myself for not taking $3 and change the day after earnings were released. That $3 sure looks good today. PART `1 Well not knowing how you are situated in respect to long term gains with other investments, I'll just toss this at you as I do know a few people who are dumping every thing they bought since 1998 that hasn't made money and rolling the loss forward. However let me add these are people who have huge gains in the market going back for many years and haven't sold very much due to taxes, while they can only take 3K this year,,they can extract a lot of profits from their older holdings next year and use all the losses of this year against what they want to take out of the market next year. They are both older retired persons who have accumulated a lot of real-estate and stock over the years and they want extra money to spend next year ( on trips etc ) but they hate paying tax; so this year is a sort of leap frog year for them unload any thing that has gone down since they bought it. BTW they are not in the market to make a lot more money they are more interested in getting the most out what they have already made, and the tax on that is more than the investments are subject to gain in a year anyway. I expect there are many older people who have done good over the years and have tax advisors showing them how to leap frog out on this crummy year. Also I'm talking of people who bought stuff in the 70s and early 80s and were not tech minded stuff like this quote.yahoo.com they have a ton of long term Cap gains to pay any time they want to get some cash out of them. ------------------ RE >> I'm also not that confident in the general equity markets. Part 2, We have been in a sort of stealth bear market for some time. The indexes tend to hide it but since mid 1998 a lot of stuff has dropped off the radar screen that the indexes don't show. Here is an example.. quote.yahoo.com^VLIC&d=5ym As you can see the value line peaked in 98.. While some of the older investors have income from real estate etc and some of that has gone into the market much of what the bought since then hasn't done good at all and it's getting dumped, I expect the "old money" selling may continue at least up until Mid Jan or Feb of next year. We will have rallies and such but nothing to speak of until they get what they want or need out of the old standbys. --------------- I had hoped OCT was the bottom..but when the value line broke below 400 I changed my mind. That doesn't change the fact that if your investing for the longer term this is a good time to be buying, So much of the hype you see on CNBC is directed at short term gamblers ( even though they say hold for the long term they love to see the action and hype things both ways ) ------------------------ We have at least one more BIG rally left in this ponzi scam after this sell off is over, but about 2007 to 2010 demographics will dictate a lot more "old money" trying to get out, more than new money can put in. Jim Member 1421660