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To: Eddie Kim who wrote (37642)4/13/1998 1:32:00 PM
From: Fangorn  Read Replies (1) | Respond to of 176387
 
Eddie,
Your (lack of) logic makes me dizzy.
Thought experiment
You hold two stocks, both with a cost basis of $10,000. One is up 50%, the other down 50%. Sell the up stock for a profit of $5000. Now tell the IRS that you don't owe any tax because you have an offsetting loss in the stock you still hold.
Goodbye



To: Eddie Kim who wrote (37642)4/13/1998 1:47:00 PM
From: Dan B.  Read Replies (1) | Respond to of 176387
 
Mr. Kim

Potential in an unsold position is not a philosophy- it is a reality. Period. Always. End of story! Please try not to confuse the two. Daytrading might be a trading philosophy, while holding long term is another-- I assure you that the MERE potential of an unsold position is reality- not philosophy- in either case.
Please note also that philosophically speaking- the short position in question is not being day-traded!


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