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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (5841)	4/8/1999 10:00:00 PM
From: ecommerceman	Read Replies (5) \| Respond to of 13953

EGRP has gone up so much so quickly (almost 8 times what I bought it for on December 1, just a little over 4 months ago!), I think it's tempting to consider shorting it (I know that sounds like heresy, at least coming from me). On the other hand, I'm virtually certain that E*Trade will announce a split when they state their quarterly revenues, and if that happens, it will jump again, I think. Hypothetical question: if you sell a stock short at the same time that you hold shares of the same stock long, I assume the IRS would not consider that a sale of the shares you hold long, would they? That may sound crazy but I think might make sense given the following situation: a stock you hold has seen a huge run-up but you haven't held it for the required 12 months to qualify for long-term capital gains rate (20%, as opposed to 31%, in my case), and you think the stock may take a dive in the short run but you believe is a great investment in the long run. Comments?