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Pastimes : The Big Tex House of Coin -- Ignore unavailable to you. Want to Upgrade?

To: Michael E. Baldino who wrote (17696)	3/24/2001 9:48:45 PM
From: Jeff	Read Replies (6) \| Respond to of 19297

lots of folks became rich in early 2000...... they are not so rich anymore.....but many still have huge capital gains to pay... its that simple..... if for example you didn't sell your losers in december 2000 because you thought the stocks would come back in 2001...... you are dead meat!!!!!!! example......you made 100k in capital gains in 2000......but as your port bleed down in the fall.....its only worth 30k..... so in december you had a choice.......take your 70k in losses and you wouldn't be taxed on that.....you would only have 30k to show.....thus you would only be taxed on 30k in capital gains..... BUT!!!!! those folks who played with fire......and refused to take that loss in december.....are screwed bigtime...... now their capital gains are 100k and they only have 30k in their port.....and maybe less because the market is still bleeding down in 2001...... so because they were hard headed and didn't take the loss in 2000...... taxes are say 30k on 100k capital gains......they may or may not have that money to pay the tax......lets just say they have 30k left..... now they must sell everything to pay the taxes......AND THEY ARE WIPED OUT BECAUSE THEY WERE TO STUBBORN TO TAKE THE LOSS IN 2000 AND START OVER FROM SCRATCH IN 2001!!!!!!! now had they taken the loss in december 2000......they would have been taxed on 30k.....say their tax was 7k...... now they only have to pay 7k and they still have 23k left to try and build their port back up...... the stubborn who thought 2001 would be better and didn't play the smart tax strategy of selling losers in december are in deep do-do...... now another reason for selling now..... mutual fund holders......because some gains were realized from the big run up in march.....and some funds took profits.....well...now the funds are down.....but those profits were realized early on..... so holders in funds.....no matter if they are down for the year.....STILL HAVE TO PAY CAPITAL GAINS TAXES...... ain't that a bite in the butt...... so they sell to pay taxes......thats why big money is manipulating this market so much in an effort to keep folks from all selling at once......mutual funds are in deep trouble.....and when the public sees the light......the mutual funds are in trouble...they will do anything to keep folks in their funds......so they put the buy and hold long spin out to the media to keep the sheep in line......they prop up the markets end of quarter so when the sheep get their statement.....it doesn't look so bad...... another reason for selling.......folks with stock options that are now worthless are in deep trouble........many owe huge tax bills......but they don't have the money to cover......so every single stock they own must be sold..many will have to sell their homes......you name it......this year and the big fall of nasdaq has destroyed many...many lives........ i just give both sides of the story so folks can decide for themselves... those longs who are still in denial on some of these threads will buy no matter what....and i've been watching them get killed for many months because they only think one way.....long .....and this must be the bottom.....they think the market will just snap back like old times...the markets had two up months in a year...most threads died out.....why.....because folks couldn't adjust their thinking to the new market conditions.....many lost it all...or gave up.....and the ones who are left.....better change their thinking.....or those folks will likely get wiped by the fall if they jump in now thinking its safe..... so if things get bad over the next month.....you will know why.....because i gave both sides of what could possibly happen.....just like i been doing all year.....