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Microcap & Penny Stocks : MCRR Refugees -- Ignore unavailable to you. Want to Upgrade?

To: Claudia Benson who wrote (131)	7/9/1998 1:49:00 PM
From: WallStBum	Read Replies (1) \| Respond to of 582

Another penny that came accross BBNS and I've been checking out is WOOD. 5 or 6 cents a share, but they just announced preliminary earnings and did 2+ cents a share in EPS. The stock is going wild on volume. dax

To: Claudia Benson who wrote (131)	7/9/1998 1:57:00 PM
From: WallStBum	Respond to of 582

IMPORTANT Folks, I don't know if all of have heard yet, you probably will over the next few days/weeks. The Congress has just passed the IRS Overhaul bill. It addresses a lot of the concerns raised in the now infamous Senate hearings on IRS abuses, yada yada yada. More importantly to all of us, Rep. Bill Archer (R) won an attachment to the bill (which Pres. Clinton is expected to sign) that roles back the 18 month long-term capital gain rule to 12 months - as it used to be. This WILL be retroactive to Jan 1, 1998 for any sales you've made in 1998. So if you sell and you've held it over 12 but less than 18, it will be taxed on the Federal level at 20 percent NOT 28 percent. The 18-month class is long-gone, I repeat you do not have to hold over 18 months to get the 20 percent rate. Anything 1 year and 1 day is now good enough for the 20 percent. dax