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To: LastShadow who wrote (4240)	12/8/1997 9:30:00 PM
From: LastShadow	Respond to of 120523

Watch List 12/9: Part 1 SYMBOL CLOSE CHANGE CHANGE % CHANGE % (VOLUME) BORL 10.375 0.125 1.22% 12.06% CPQ 65.500 0.750 1.16% (15.13%) CU 32.062 0.250 0.79% 68.60% NSCP 30.500 1.000 3.39% (9.19%) SFA 20.500 0.625 3.14% (53.06%) SMMT 14.125 0.625 4.63% 2,257.14% lastshadow

To: LastShadow who wrote (4240)	12/8/1997 9:30:00 PM
From: LastShadow	Read Replies (2) \| Respond to of 120523

Watch List 12/9: Part 2 NSCP broke resistance, as did INEL and are now both buy candidates, although INEL is starting to look a loittle overbought I will stick with it as penetration to a new local high is usually good for more for at least a day. SFA had a nice gap and hopefully will sustain it tomorrow. GM seems to be slowing a bit, but I'm staying long on it. I got into BORL last week and its still on a slow climb, but nothing to write home about. I think my big play may be with CPQ tomorrow or Wednesday though, as its formed a nice ascending pennant with appropriate volume. Both yesterday's and Friday's Watch List were fairly accurate and profitable even for end-of-day traders, so I'm starting to think I know what I'm doing. Actually, I've made some elemental changes in the net to reflect post-tanking recoveries (at least thats what I intended) and it seems to help. The real proof will be if it accurtately predicts exits before the market has the next minor correction. It isn't showing one for the rest of the week, but the learning algorithm needs to see a correction and incorporate those indicators in order to grow, so I can't vouch for that yet. MANU was the best call, but I may reenter tomorrow. I only wish I had been around to trade a couple of others today. Still long/bullish on DIMD, GM, INEL and TCOMA also, but stops are set so I wont watch them intraday. IOM and FRTE both failed today and therefore are off the short term lists. Exit stop was met/filled on ASND, so not expecting much from that one. Decided to get back my previous loss on that one a nickel at a time I guess... lastshadow

To: LastShadow who wrote (4240)	12/9/1997 8:02:00 AM
From: toothdock	Read Replies (3) \| Respond to of 120523

Last-More info on tax consequences: The Barrons Article refers to the 1997 Tax Relief Act, and specifically the definition of a "trader." The basis of the new rule in the 1997 act is to allow mark to market claim for stock trades both for profits and losses. The problem is two fold: 1. The definition of a trader will still be held to stringent standards. If in fact one opts to apply the definition, you can be assured that there will be the requirement to pay self employment taxes. 2. When using mark to market analysis, realize that the whole issue of capital gains is out the window, and all gains will have to be based on ordinary income, and taxed at a higher rate. 3. The issue of deduction of business expenses for trading will still be scrutinized, as the IRS always is alerted when these expenses arise in a non-ordinary business. Need more info: toothdock@prodigy.net Not bad for a third year law student-eh? trade with #profits toothdock