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Technology Stocks : Firstwave Technologies, Inc. (FSTW) -- Ignore unavailable to you. Want to Upgrade?

To: Ken Holbert, Jr. who wrote (199)	1/1/1998 12:38:00 PM
From: Russian Bear	Respond to of 1205

Ken, I don't have the answer to your short sale problem, but I am sure glad to learn that the transaction date, not the settlement date, is the one that counts for IRS purposes. I had assumed as much, and relied heavily on that assumption (I didn't even consider the other possibility.) I sold just enough of my losers (not BROC, 'though) to offset my 1997 realised gains, right up until the December 31st close. For a while, until I read your post, I fealt very, very stupid. It also gives further support to Roger's tax-selling hypothesis, in assessing the BROC action on Wednesday. As the drop was taking place, I naturally assumed that it was due to one or two heavy sellers, selling for tax loss reasons, as Roger later posited. I picked up quite a few shares at around 3.75, thinking it was "free money." Later, when the tax loss explaination appeared problematic, I began to wonder whether it was such a smart thing to have done, after all. So, for both reasons, thanks for the information. It sure makes my holiday brighter! Happy New Year to all on the thread, RB