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To: mike mantoni who wrote (1497)	3/25/1998 10:53:00 PM
From: Roo	Respond to of 5847

Mike - IMO, the scenario of longtime holders who got in at high values crossing the stock to take advantage of a loss and then potentially a gain on an upswing is not likely. Unless I misunderstand the rules, to realize the loss, they would have to sell and then not buy back in for 30 days, therefore a same-day cross as we've been seeing is invalid for that purpose (IRS rules that transaction a "wash" and disallows it as a loss). -R

To: mike mantoni who wrote (1497)	3/25/1998 10:57:00 PM
From: brad greene	Read Replies (1) \| Respond to of 5847

Mike, I thought that if you sold a stock for a tax loss, you could not buy it back for a period of 30 days. These trades are within seconds of each other. If I understand what you are saying correctly, the company sells shares directly to individuals out of treasury stock....the individual registers the stock with the transfer agent....then takes it to a market maker......who sells the shares to another market maker who sells the shares back to the first market maker...who puts then into his inventory for sale later to Brad Greene. Is it safe to assume that any shares sold by the company directly to individuals must be registered with the transfer agent prior to "cross trading into the float?" In other words...will the total shares outstanding report from the Transfer Agent tell us whether this has been done? bg ps. Legal shorting is borrowing stock from brokerage accounts. What exactly is naked shorting. How is it done without registering shares with the TA? bg