Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : VVUS: VIVUS INC. (NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (4381)	1/7/1998 12:01:00 PM
From: Frostman	Read Replies (1) \| Respond to of 23519

Current volume beats yesterday's close, market down but VVUS up 5/8 from the open at the moment, Tunica, you buying again? <g>

To: Tunica Albuginea who wrote (4381)	1/7/1998 12:05:00 PM
From: LoLoLoLita	Read Replies (1) \| Respond to of 23519

Vivus heading UP now @ 11 1/4, fasten your seat belts! Question for the tax pros: I'm long in a margin account. If I sell short "against the box" and cover my short with a market buy, do I preserve the initial acquisition dates (for my initial long position) when I eventually sell those shares for a (hopefully) L.T. gain after 18 months? Or, is the "clock" reset to when I covered the short position? Please people don't start flaming me for using the S word. I just expect that with all the shares traded between 10-12, we'll see pretty strong resistance penetrating (gg) through the prior 19-21 support range from people taking quick 60-100% profits. I know that many here have cost bases over 20, and may be upset to hear of this strategy, but it makes sense for me, and maybe others as well. Another advantage to this approach as compared to a "naked" short, is that if the reaction downward does not occur, I can close out the short position by calling my broker and asking them to "net-net" the short against the long. This will mean I make less profit than if I'd just held my long, but it offers the possibility of making money from both an up-move and a down-move, and I think everyone here will agree that VVUS has been very volatile in the past. Comments? David