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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (98367)	8/8/2002 9:34:05 PM
From: orkrious	Respond to of 99280

you still short the semi equip here? I had covered them all a little over a week ago. then put about 1/3 of them back out. covered about 1/3 of those near the bottom, the rest today. I am not sure how much bounce they have left. I'm not sure we can get to your 1500, but I'm sure they have some left. AJC was beating the drums today, that means we top in no more than 3 days. <g> I did keep a decent slug if IBM and financials short, along with some homebuilders and a few miscellaneous things. I can't go naked. <g>

To: Zeev Hed who wrote (98367)	8/9/2002 4:49:30 AM
From: Steve Lee	Read Replies (2) \| Respond to of 99280

Zeev, do you see any opportunities on the horizon to play the superconducting stocks? These can move fast when they get going. I read a news story today that mentions NASA working with high temperature superconducting magnets for a future propulsion technology. You might find that article interesting. msnbc.com “We now have magnets that are 30 times lighter, and they are fully superconducting. We just started testing our first high-temperature, superconducting magnet. People are beginning to see that the technology does make sense.”

To: Zeev Hed who wrote (98367)	8/9/2002 10:59:01 PM
From: Cy B	Read Replies (1) \| Respond to of 99280

It is correct that you cannot have a long term gain for a short position held more than a year because all short sales are treated as short term no matter how long held. However the statement about "mark to market at the end of the year" is incorrect. This is not required by IRS. Any short position carried over on Dec. 31, remains a non taxable event until the short position is closed or until the stock becomes worthless. It is only taxable in the year the position is closed or becomes worthless. A good reference for this is in the IRS publication below; page down to last comment where it also details how to report an open short position to make your tax documents consistent: irs.gov A "short against the box" is also not "marked to market" at the end of the year. It is considered a "Constructive Sale" at the time the short position is taken and is reported as such.