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To: CJ Quantumwell who wrote (196)	12/31/1997 9:25:00 PM
From: Roger A. Babb	Respond to of 1205

CJ & All: For whatever reason, it appeared to me that a single large seller was dumping today. Today is tax day if you file as a "professional trader". If my theory is right BROC will pop back above $4 over the next few days. There is no bad news that I know of, in fact I am expecting that 4th Q revenues will be up relative to 3rd Q. If I am wrong and BROC stays down, we will have the BROC party anyway and you guys can roast me! Happy New Year to All. Roger

To: CJ Quantumwell who wrote (196)	1/1/1998 10:41:00 AM
From: Ken Holbert, Jr.	Read Replies (2) \| Respond to of 1205

That's not true. The transaction date counts as the last day for tax purposes. I got burned last year before checking this out in detail. I got this information through IRS publication 550, Investment Income and Expenses. It's a free publication and provides good information for stock trading. Ken H. P.S. If you are short a stock its good to close the short before the first of the year. I have yet to find anyone at the IRS or tax profession or my broker who can show me how to put a short sales on your return that is still open. The brokers statment will have the short sale listed as proceeds on your 1099. These proceeds must be reported to the IRS on Schedule D. If the proceeds on schedule D do not match the 1099's that are provided to the IRS by you broker, then the IRS gets concerned. How do you list the proceeds when the transaction has not been completed? Anyone have the answer?