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Non-Tech : Iomega Thread without Iomega -- Ignore unavailable to you. Want to Upgrade?

To: Michael Coley who wrote (2999)	11/3/1998 10:54:00 AM
From: Jock Hutchinson	Read Replies (1) \| Respond to of 10072

Michael: What Howdy Doody (or is it Hoe Duty) doesn't seem to understand is that if he is both long and short a stock, then he has no net position assuming that he holds equal positions on both his long and his short. This position is called being short the box. Prior to the recent change in the tax laws, it was an excellent strategy to lock a short-term capital gain into a long-term capital gain with the attendant lower tax rate. The other use of shorting the box is now limited to very short term traders who will close a long position by going short in a second account an equal amount of shares. This gives the trader no net position, but it does give the trader the option of selling the long position during the down move of a stock, thus leaving him/her with a short position without having to comply with the uptick rule. Thus, it is a superior strategy for very short term traders and nothing else. Here, Knucklehead Smith is accomplishing neither. Could it be that excess use of Quigley Lonzenes brings about rapid dementia? Or perhaps it can be linked to obsessive compulsive behavior. The Late Uncle Bob