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To: Electric who wrote (8448)	5/12/1998 9:49:00 AM
From: Chris	Respond to of 42787

watching ibm.. see if it breaks below 9 day ema. Moving Averages IBM closed at: 119.312 The close is currently Above its 5 period exponential moving average (118.4330). The close is currently Above its 9 period exponential moving average (117.5174).

To: Electric who wrote (8448)	5/12/1998 10:06:00 AM
From: Chris	Respond to of 42787

notice the volatility in DELL.. to me (just a guess) that shows a "top" where the bulls and bears are battling.. looks like there is some weak support at 90.. (the top on 5/5) just a guess <g>

To: Electric who wrote (8448)	5/12/1998 11:16:00 AM
From: Chris	Respond to of 42787

REVERSAL WARNING: Talk : Market Trends : Point and Figure Charting \| Previous \| Next \| Respond \| To: Al Serrao (2943 ) From: P&F-Madness Tuesday, May 12 1998 10:50AM ET Reply # of 2967 I hope nobody missed Tom on CNBC! He was on a roll today folks! He gave out tons of information. He said if you put a gun to his head he would have to say the NYSE BP will reverse down tomorrow. Of course I will keep you updated. Also, he likes Oil and oil service still. Thinks oil (despite what another analyst (not mentioning names) says on CNBC) is going to 20 possibly 25 dollars a barrel. NYSE BP reverses we need to be on defense. You all should have a good idea what that means by now. Take care, Jan Iam

To: Electric who wrote (8448)	5/12/1998 11:40:00 AM
From: Chris	Read Replies (1) \| Respond to of 42787

TAXES To: Rainier Trinidad (531 ) From: dave horne Sunday, Mar 29 1998 6:20PM ET Reply # of 922 Hi Rainier, one valuable lesson I've learned in the last week, as I'm doing my taxes, is that I've been entirely too paranoid of wash sales. Often times I will buy a breakout on the breakout day, and end up selling a day or 2 later because the breakout proved to be false. Many times, 2 or 3 weeks later, a "real" breakout with followthru happens, but I don't act on it because of the "wash sale" fear. For whatever reason, I had the impression that if you have a trade where the wash sale rule applies, you lose the ability to deduct that loss on your taxes. Ever. So, I had always made sure I didn't enter into a "wash sale" trade...until this year when the loss deduction for a particular trade was so small that I said what the heck, and made another opening purchase within 30 days of the wash sale. Now that I have one and need to account for in on my taxes, I've found that I was worried about nothing. The wash sale rule merely POSTPONES the ability to write off the loss until the position is completely closed out (which may mean you no longer have a loss). If this is all done within 1 tax year, you don't even need to note it as a wash sale on schedule D. The loss incurred when the wash sale happened is just added to the cost basis of the position that was opened within 30 days of the wash sale date. You even get to add together the holding periods for the chained transactions (although that doesn't really matter if you closed the position in the same tax year). Too Fair!!! I can't tell you how many times a false breakout happened, followed in less than 30 days by a real breakout, but I didn't open a new position for fear of losing my loss deduction. I just watched it take off and go up from the sidelines. The moral of the story is that I am now more convinced than ever that (for me anyway) I have to COMPLETELY IGNORE the tax consequences of my trades. Considering the tax consequences puts a constraint on the trade that is TOTALLY uncorrelated to the performance of the trade. Entry/exit decisions should only be made based on information that is correlated to the investment's performance (i.e. TA, FA, broad market conditions, company news, etc). My tax consequences (and commissions for that matter) have no influence whatsoever on whether a stock sinks or swims. They aren't a part of the overall strategy, so using their influence to go against my overall strategy means I'm not sticking to my strategy. NOTE: I do not claim that ignoring tax consequences and commissions is proper for everyone (or even the majority). Everybody's situation is a little different.