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To: Feathered Propeller who wrote (60674)	5/6/1999 8:18:00 PM
From: Kenya AA	Read Replies (1) \| Respond to of 97611

jc: **OT** When I first started trading, I got some literature from my then accountant about what constitutes a "professional" trader in the eyes of the IRS. Unfortunately, I can't locate it at the moment, but essentially it said that (excepting registered brokers/dealers trading for their own accounts) the IRS focuses on the number of trades executed with the general idea that you should be "trading on a daily basis" if that's your profession. Those who place thousands of trades a year, even if not daily, and file Schedule C would most likely get waived on through on the "professional" issue. If you trade twice a week - forget it! It's the people in the area of between 100 and 500 trades a year where it gets very gray. I have always taken the conservative route and skipped Schedule C. The last thing I need is the IRS poking around my door, not to mention being in the position where I feel like I have to trade to make some quota. There was probably a whole month last summer when I didn't trade at all. My point was, that I don't believe today was "institutional" buying based on the wash sale rule. Institutions are definitely exempt. Private investors coming back due to the wash sale factor?? Sure! More likely institutional buying, but for another reason. Guess we'll find out soon enough. K