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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: Amots who wrote (3992)	10/23/1998 4:55:00 AM
From: Jonathan Edwards	Respond to of 4697

I boxed my position today (using 2nd broker to avoid new rules) I didn't realize the new rules re: short selling against the box could be circumvented. Can you explain a bit?

To: Amots who wrote (3992)	10/23/1998 5:30:00 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 4697

Amots - <<I boxed my position today (using 2nd broker to avoid new rules) >> PMFJI, but the tax rules apply to you, not your broker(s). No matter how many brokers you use, if you sell a stock short that you already own, you are 'short against the box' and must cover the position within 30 days after the end of the year and then remain long for 60 days thereafter to prevent the short sale from being taxed as a 'constructive sale'. Clintonomics at work. Regards, Don