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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Boca_PETE who wrote (1825)	10/26/1998 11:56:00 AM
From: Trebor	Read Replies (2) \| Respond to of 15132

>but if you think the company has prospects to rise quickly starting by next summer> By the same token, if you think the stock is NOT going anywhere until next summer or later, why not sell covered calls on part of your position in the meantime? It's a great way to generate cash income from a stock that is otherwise just lying there dormant. UTEK is a perfect covered call candidate assuming its story won't be played out for 6-12 months or so. I bought UTEK at an average of $24 but by selling covered calls on half my position I've brought my overall cost basis down to around $17. So right now, I'm in the black. By next summer I hope to have my cost basis around $14-$15. Meantime, I'm using the cash generated for other investments. I'm a voice shouting in the wilderness about the merits of covered calls, but they sure work for me.

To: Boca_PETE who wrote (1825)	10/26/1998 5:22:00 PM
From: theodore	Respond to of 15132

Pete: Thank you for the expertise in defining the techniques/strategies of tax loss selling.The information you provided will suppress the pain of paying for any gains I may be able declare this year(;^). Regards-theodore

To: Boca_PETE who wrote (1825)	10/26/1998 6:40:00 PM
From: marc ultra	Read Replies (2) \| Respond to of 15132

Pete, I'm curious if you have an opinion on what might be acceptable proof of intent when selling designated shares over the net when broker won't provide a letter. I was wondering if I should try to get an acknowledgement of an e-mail sent the same day as sale. I don't know if you were selling your shares over the web or if you don't think this is going to be an issue. Someone at Schwab told me to just write it on my confirmation but I don't have to be an IRS agent to tell this may not be contemporaneous proof of intent. Please don't answer if you would rather not as I don't want to start a bunch of questions to you that may not be appropriate here Marc