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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: wisc who wrote (10)	11/1/1998 11:35:00 AM
From: Go Fast	Read Replies (2) \| Respond to of 56535

As I have been more active with daytrading I am needing some help with Tax consequences. How do active traders submit transactions for the Tax return and is there tax advantage in particular style of trading. Thanks. John

To: wisc who wrote (10)	11/1/1998 2:21:00 PM
From: Trader J	Respond to of 56535

Wisc, thanks for the kind words. Tokyo is a VERY good trader and I am a member of SA. He can be a bit rough at times but see him for how he goes about his trading, much can be learned. Many people have a problem with his "style" but his work ethic cannot be questioned IMO. As for FP, let me get back to you on this. I really want to catch the end of a couple of games here. Thanks Jeff

To: wisc who wrote (10)	11/1/1998 8:02:00 PM
From: Trader J	Respond to of 56535

Wisc, FP: Looks a little scary here. It has been getting a lot of support at this level and the downside appears to be out. I certainly wouldn't mind playing this on for the short term but it doesn't appear to me to be a gimme. 25% of outstanding float is short as of 10/8. P/E not reflective of obvious problems in their core business. May have problems with cash going forward. The only thing that is going to move this issue is positive news. I see that earnings are released on 11/2. I would not risk holding before earnings, but if they look good, you may see some accumulation for a few days. As volume drops off after any positive news, sell it immediately. I believe it would retrace. Good luck. Jeff