home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
ftp.xmission.com
/
2014.06.ftp.xmission.com.tar
/
ftp.xmission.com
/
pub
/
lists
/
canslim
/
archive
/
v02.n081
< prev
next >
Wrap
Internet Message Format
|
1998-01-08
|
28KB
From: owner-canslim-digest@lists.xmission.com (canslim-digest)
To: canslim-digest@lists.xmission.com
Subject: canslim-digest V2 #81
Reply-To: canslim
Sender: owner-canslim-digest@lists.xmission.com
Errors-To: owner-canslim-digest@lists.xmission.com
Precedence: bulk
canslim-digest Friday, January 9 1998 Volume 02 : Number 081
In this issue:
[CANSLIM] RCMT, ENGL
[CANSLIM] Opening Bell
[CANSLIM] ANLT ?
Re: [CANSLIM] ANLT ?
Re: [CANSLIM] Re: canslim-digest V2 #75
[CANSLIM] United Video Satellte (UCSGA)
Re: [CANSLIM] ANLT ?
Re: [CANSLIM] Re: canslim-digest V2 #75
Re: [CANSLIM] United Video Satellte (UCSGA)
Re: [CANSLIM] RCMT, ENGL
Re: [CANSLIM] United Video Satellte (UCSGA)
Re: [CANSLIM] ANLT ?
[CANSLIM] Taxes
[CANSLIM] Advice we like...
[CANSLIM] World Mkts
[CANSLIM] Short Term Loss U.S. IRS Rule Info Sought
----------------------------------------------------------------------
Date: Thu, 8 Jan 1998 07:50:44 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] RCMT, ENGL
Found these two this morning from yesterday's new highs, both with excellent
CS elements, both hit new highs on very heavy volume, and both still within
10% of recent short bases.
RCMT is a temporary help co, ENGL is a home builder, both in industry groups
that have been doing well recently.
Any statements or opinions are strictly my own and not that of my employer.
My comments should not be interpreted as a recommendation of any kind. I am
a licensed (inactive) broker and an active investor. All investors should do
their own research prior to any investment, especially one learned about on
the Internet. Hopefully my comments will better inform and educate all
investors.
tom w
- -
------------------------------
Date: Thu, 8 Jan 1998 08:00:27 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Opening Bell
I had been expecting a good day today, a follow thru from the late rally
yesterday. But so far futures, Asia and Europe suggest to me we will be
opening down about 30 pts, and continuing south from there. So far the
"Santa Claus" rally is not very merry, and I suspect we will remain in a
trading range till well into the earnings cycle, unless today's PPI and
tomorrow's Employment reports give the mkt cause to make a major move. And
the bias, IMHO, is more to the downside.
Any statements or opinions are strictly my own and not that of my employer.
My comments should not be interpreted as a recommendation of any kind. I am
a licensed (inactive) broker and an active investor. All investors should do
their own research prior to any investment, especially one learned about on
the Internet. Hopefully my comments will better inform and educate all
investors.
tom w
- -
------------------------------
Date: Thu, 08 Jan 1998 08:11:10 -0500
From: "J. O'Malley" <omalleyj@erols.com>
Subject: [CANSLIM] ANLT ?
Hello Group,
Some time ago, the group was discussing ANLT (Analytic Survey). I took
a position, and (happily) am up @ 24%. The numbers still look good and
the stock is hitting new highs... My question: "Is it wise to take
profits, or let this one run? All comments welcomed
EPS 98 RS 99 A/C (B) Volume up 400%
Thanks, Jerry
- -
------------------------------
Date: Thu, 8 Jan 1998 11:34:02 EST
From: SACADS <SACADS@aol.com>
Subject: Re: [CANSLIM] ANLT ?
I would of sold at 20% if not before. Though I haven't pulled up any charts,
stock may be becoming exented. Market isn't really working in your favor
right now either. Either watch the stock and it's chart very closely or sell
it and pay your rent.
Greg
- -
------------------------------
Date: Thu, 8 Jan 1998 12:05:38 -0500 (EST)
From: Mark Schiffner <mark@East.DELFIN.COM>
Subject: Re: [CANSLIM] Re: canslim-digest V2 #75
On Wed, 7 Jan 1998, Tom Worley wrote:
> ...
> BTW, I expect to see this trend towards higher charges continuing at most
> firms, depending on their capital, there's only so long they can do trades
> at a loss while they seek to increase mkt share. At some point, I would also
> expect to start seeing more mergers and acquisitions as well as the industry
> consolidates.
>
I noticed a key phrase of "at a loss". What is the brokers cost?
There are groups selling flat rate anywhere from $8 to $30 (maybe
some even more).
Mark Schiffner
- -
------------------------------
Date: Thu, 8 Jan 98 13:33:04 PST
From: John Kraemer <jkraemer@onramp.net>
Subject: [CANSLIM] United Video Satellte (UCSGA)
There has been a few messages about United Video Satellte (UVSGA). Is anyone
following this company? UVSGA has an EPS = 97, Rs = 85, Acc Dis. = B. Volume
was up 156% yesterday (1/7) and moved up in price 7/16 to close @ 28 1/8.
The 52 week high is 31 1/2 and 52 week low is 13 1/2. Today the stock is up
7/16 to 28 9/16 on 100% increase in volume. The stock looks like it could
breakout of a base on the increase in volume.
John
- -
------------------------------
Date: Thu, 8 Jan 1998 19:16:04 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] ANLT ?
Looking at the chart, you have had a very smooth move up, largely immune to
mkt conditions. Timeliness is an A, up/down is a strong 2.8, volume
continues to run heavy at 2X to 3X daily average. Latest short interest is
not significant at about 30,000 shares, but this is also a small float (4.0
mil shares). You only had 10% ownership by funds, they may have been part of
the buying pressure, in which case the working float may have shrunk sharply
in recent weeks.
All this said, I fall back on one of WON's basic rules: take profits at 20%
until you have built up a nice profit for the year AND also have confidence
in your CANSLIM applications. If you are both an experienced investor and
CANSLIMer, and have reasonably timely access to the mkt, you could hold on,
it does look strong. O'Neill found that the stocks that moved the strongest
in a short time period were often the ones best held for long term (even a
year or two). If you do hold on, continue to move a mental or hard stop up
with the price of the stock, staying no more than 15% under the price. And
this is an absolute, religious stop, never lower it for any reason including
overall mkt conditions. Better to be stopped out with only a 10 or 15%
profit, than see it go back to where you bot it.
Any statements or opinions are strictly my own and not that of my employer.
My comments should not be interpreted as a recommendation of any kind. I am
a licensed (inactive) broker and an active investor. All investors should do
their own research prior to any investment, especially one learned about on
the Internet. Hopefully my comments will better inform and educate all
investors.
tom w
- -----Original Message-----
From: J. O'Malley <omalleyj@erols.com>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Thursday, January 08, 1998 8:13 AM
Subject: [CANSLIM] ANLT ?
>Hello Group,
>
>Some time ago, the group was discussing ANLT (Analytic Survey). I took
>a position, and (happily) am up @ 24%. The numbers still look good and
>the stock is hitting new highs... My question: "Is it wise to take
>profits, or let this one run? All comments welcomed
>
>EPS 98 RS 99 A/C (B) Volume up 400%
>
>Thanks, Jerry
>
>-
>
- -
------------------------------
Date: Thu, 8 Jan 1998 19:26:52 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Re: canslim-digest V2 #75
If costs my firm $19 to clear an OTC trade; $23 plus $.0125/share to clear a
listed security; and $19 plus $1.75 to $1.25 per contract to clear an option
trade. This is without counting any operating expenses, my salary or
benefits, rent, equipment cost or amortization, etc. I am only referring to
what we must pay to our clearing firm (Bear Stearns). Obviously a large,
self clearing firm could do this cheaper, but there are still sizable costs.
I know of no way for any firm to clear a trade for $8, much less cover
overhead.
Doing trades at $8, $10, even $15 per trade is a marketing strategy, a loss
leader, to gain market share and clientele loyalty now in hopes they will
mostly stay around later when rates go up. Some of the loss is likely
covered with either trading profits (assuming they make markets) or by
directing the order to a firm that will pay them "soft dollars"
compensation. However with the full implementation of the new Order Display
rules, which have considerably reduced the spreads, the days of "soft
dollars" are finally passing. And a good thing too, it forced my firm to
switch to another BD for OTC orders, we don't get much soft dollars, half a
penny a share on some orders, nothing on many others (we used to get 2 cents
a share on all), however the firm we now use is the second largest OTC mkt
maker, get fantastic and pretty much instant execution, and gives up price
improvement on about 10% of the orders as well. All in all a nice benefit
for our clients, even if it hurts our revenues. Currently we are trying to
set up a relationship with the largest OTC mkt maker, who promises even
better execution.
Any statements or opinions are strictly my own and not that of my employer.
My comments should not be interpreted as a recommendation of any kind. I am
a licensed (inactive) broker and an active investor. All investors should do
their own research prior to any investment, especially one learned about on
the Internet. Hopefully my comments will better inform and educate all
investors.
tom w
- -----Original Message-----
From: Mark Schiffner <mark@East.DELFIN.COM>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Thursday, January 08, 1998 12:04 PM
Subject: Re: [CANSLIM] Re: canslim-digest V2 #75
>
>On Wed, 7 Jan 1998, Tom Worley wrote:
>
>> ...
>> BTW, I expect to see this trend towards higher charges continuing at most
>> firms, depending on their capital, there's only so long they can do
trades
>> at a loss while they seek to increase mkt share. At some point, I would
also
>> expect to start seeing more mergers and acquisitions as well as the
industry
>> consolidates.
>>
>
>I noticed a key phrase of "at a loss". What is the brokers cost?
>There are groups selling flat rate anywhere from $8 to $30 (maybe
>some even more).
>
>Mark Schiffner
>
>
>
>-
>
- -
------------------------------
Date: Thu, 8 Jan 1998 19:36:23 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] United Video Satellte (UCSGA)
The chart is kind of a mixed bag for me. Timeliness is an A, but up/down
ratio is only 1.1; RS is 85 thus it is not close to the top five in its
group; trailing PE is 26 which suggested to me it might already be nearly
fully valued, but checking the top five it's actually quite low. Biggest
negative I saw was that earnings for the past 4 qtrs are steadily growing
(.20, .25, .30, .32) however revenues are essentially flat (131, 123, 128,
126) suggesting internal cost cutting rather than a growth company. On the
other hand, it should have little problem fulfilling the full year
estimates.
Any statements or opinions are strictly my own and not that of my employer.
My comments should not be interpreted as a recommendation of any kind. I am
a licensed (inactive) broker and an active investor. All investors should do
their own research prior to any investment, especially one learned about on
the Internet. Hopefully my comments will better inform and educate all
investors.
tom w
- -----Original Message-----
From: John Kraemer <jkraemer@onramp.net>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Thursday, January 08, 1998 2:31 PM
Subject: [CANSLIM] United Video Satellte (UCSGA)
>
>
>There has been a few messages about United Video Satellte (UVSGA). Is
anyone
>following this company? UVSGA has an EPS = 97, Rs = 85, Acc Dis. = B.
Volume
>was up 156% yesterday (1/7) and moved up in price 7/16 to close @ 28 1/8.
>The 52 week high is 31 1/2 and 52 week low is 13 1/2. Today the stock is up
>7/16 to 28 9/16 on 100% increase in volume. The stock looks like it could
>breakout of a base on the increase in volume.
>
>John
>
>
>
>
>-
>
- -
------------------------------
Date: Thu, 08 Jan 1998 21:16:32 -0800
From: Sam Funchess <sam5@mindspring.com>
Subject: Re: [CANSLIM] RCMT, ENGL
Tom Worley wrote:
> Found these two this morning from yesterday's new highs, both with
> excellent
> CS elements, both hit new highs on very heavy volume, and both still
> within
> 10% of recent short bases.
> RCMT is a temporary help co,
RCMT did show signs of a break out on great volume but s\ended the day
in the middle of the day's trading range, this is a negitive sign
according to WON.
> ENGL is a home builder, both in industry groups
> that have been doing well recently.
Made new high on less volume than the previous day. Todays action not
good.
Sam
- -
------------------------------
Date: Thu, 08 Jan 1998 21:38:28 -0800
From: Sam Funchess <sam5@mindspring.com>
Subject: Re: [CANSLIM] United Video Satellte (UCSGA)
I agree with Tom... This is a stock that looks ok but has some minor
flaws to be a true canslim stock. Not top five in group. RS is about to
make a new high but it has been in a downward trend instead of an upward
trend. This is very important to WON, although he makes no mention of it
in the book. Management owns 55%, that's kinda high. Sales and earnings
growth are the exact opposite of what they should be... WHen sales are
up strong % wise eps is down significantly. When sales are low eps is
high as a percent. Could be because of marketing or something but makes
me ask why, could be as Tom stated sales began to drop and they began
cutting every thing they could. Maybe to the point of hurting the
company.
On the good side the price action becomes tight and volume has dried up
considerable. I would currently avoid this issue until the market makes
up it's mind. Watch insider buying/selling, could become a problem. It
was nice to see insider buying at the 24 level, not too far from current
prices.
Let us know which you decide.
Tom Worley wrote:
> The chart is kind of a mixed bag for me. Timeliness is an A, but
> up/down
> ratio is only 1.1; RS is 85 thus it is not close to the top five in
> its
> group; trailing PE is 26 which suggested to me it might already be
> nearly
> fully valued, but checking the top five it's actually quite low.
> Biggest
> negative I saw was that earnings for the past 4 qtrs are steadily
> growing
> (.20, .25, .30, .32) however revenues are essentially flat (131, 123,
> 128,
> 126) suggesting internal cost cutting rather than a growth company. On
> the
> other hand, it should have little problem fulfilling the full year
> estimates.
>
> Any statements or opinions are strictly my own and not that of my
> employer.
> My comments should not be interpreted as a recommendation of any kind.
> I am
> a licensed (inactive) broker and an active investor. All investors
> should do
> their own research prior to any investment, especially one learned
> about on
> the Internet. Hopefully my comments will better inform and educate all
>
> investors.
> tom w
> -----Original Message-----
> From: John Kraemer <jkraemer@onramp.net>
> To: canslim@lists.xmission.com <canslim@lists.xmission.com>
> Date: Thursday, January 08, 1998 2:31 PM
> Subject: [CANSLIM] United Video Satellte (UCSGA)
>
> >
> >
> >There has been a few messages about United Video Satellte (UVSGA). Is
>
> anyone
> >following this company? UVSGA has an EPS = 97, Rs = 85, Acc Dis. = B.
>
> Volume
> >was up 156% yesterday (1/7) and moved up in price 7/16 to close @ 28
> 1/8.
> >The 52 week high is 31 1/2 and 52 week low is 13 1/2. Today the stock
> is up
> >7/16 to 28 9/16 on 100% increase in volume. The stock looks like it
> could
> >breakout of a base on the increase in volume.
> >
> >John
> >
> >
> >
> >
> >-
> >
>
> -
- -
------------------------------
Date: Thu, 08 Jan 1998 21:49:28 -0800
From: Sam Funchess <sam5@mindspring.com>
Subject: Re: [CANSLIM] ANLT ?
I see only slight distribution on the 7th of jan. This could have been
largely due to the market. It may not have rallied at the end like the
indexes, don't know. Other than that day the stock looks good. As Tom
said u/d is 2.8..unheard of right know. This could be a launcher once
the market decides to go up. RS made a small break recently but is still
in a long uptrend. Earnings were slowing down then picked right back up,
great sign.
I would not sell unless there was another distribution signal with a big
drop. Todays drop was on lighter volume than the day before so not a
neg.
Sam
J. O'Malley wrote:
> Hello Group,
>
> Some time ago, the group was discussing ANLT (Analytic Survey). I
> took
> a position, and (happily) am up @ 24%. The numbers still look good
> and
> the stock is hitting new highs... My question: "Is it wise to take
> profits, or let this one run? All comments welcomed
>
> EPS 98 RS 99 A/C (B) Volume up 400%
>
> Thanks, Jerry
>
> -
- -
------------------------------
Date: Thu, 08 Jan 1998 19:03:04 -0700
From: "Jose O. Perez" <joperez@sprintmail.com>
Subject: [CANSLIM] Taxes
Hey
Someone asked about taxes the other day, I found this article while perusing
through the web...
Jose'
Help For Sam Fuqua In Portland &
About IRS Professional Trader Status Raymond F.
Kohn
Sam Fuqua requested some assistance in locating a local tax preparer
(CPA) in the Portland, Oregon area who would be familiar with Ted Tesser's
book Trader's Tax Survival Guide. I hope this information can be of
help.
It has been my experience that "tax preparers" often are not familiar
with unusual areas of the tax laws. CPA's are sometimes better equipped, but
they too, can also have blind spots when it comes to unique, "less
defined" areas of the tax code.
The US Tax Code has become so complex that the IRS itself, has a
difficult time administering the code, (let alone us poor taxpayers' trying
to
comply with it). It has often been said that the tax laws have become
more of an art form than a science. To further emphasis that point I recall
"Money Magazine's" annual tax test, in which they send out a fictitious
family's tax life to about 50+ perjurer's around the country. Each preparer
completes a sample tax return and the results are published in the
magazine. Needless to say, no two tax preparers' get the same answer. And,
the
difference in the calculated tax owed can be two to five times greater
from the lowest to the highest results.
I have been a student of the tax laws for over 30 years, and I have
always prepared my own returns and would never dream of using an outside
practitioner. (Given the Money Magazine results of these so-called
professionals, how much worse could I do?) Therefore, I hope that the
following
information might be of help to you and others facing a similar
dilemma:
Unfortunately, declaring "Professional Trader Status" is one of those
unusual, and "less defined" areas of the tax code. In fact, the US tax code
does
not specifically identify "Professional Trader Status" as a taxpayer
classification, and therefore does not describe how income and expenses are
to be
handled if someone were to be a "Professional Trader."
As a result, I have no doubt that most "tax preparers" and many "CPA's"
would be very reluctant and extremely uncomfortable using any
mass-marketed consumer oriented book like "The Trader's Tax Survival
Guide" as their foundation or justification for preparing your returns. How
do
they know this guy isn't just another crackpot trying to sell books.
Mr. Tesser's book has a lot of fill to plump up the volume between the
covers. It makes for interesting reading and helps make the point, but may
also
tend to overly complicate and mystify a very basic and simple area of
the tax code.
Additionally, it's a serious misnomer to refer to his tax advice as
"his philosophy in preparing taxes." Taxes are not "philosophical." It's a
matter of
what law, and accepted practice dictates and allows.
The tax code currently distinguishes between two classifications of
market participants: One is "Investor" status, which includes all individual
investors/traders who invest for their own account. As "Investors" we
report our gains and losses on Schedule 'D'. And, only those investment
related
expenses which exceed 2% of our Adjusted Gross Income can be deducted
as a "Miscellaneous" expense on Schedule 'A' form 1040. Also, you "Must
Itemize" your deductions in order to take advantage of this
"Miscellaneous" investment expense deduction.
The second classification is "Dealer" status. These are brokerage
firms, and other institutions, etc. who actually hold securities in
"inventory for sale to
the public." Needless to say, this classification does not apply.
"Professional Trader" status, as a distinct classification, does not
exist in the tax code.
I researched "Professional Trader" status last year by contacting the
IRS help line at 1-800-829-1040 for information. (If you decide to call, be
sure to
ask for the "Technical Division - Section 7"). I was fortunate enough
to talk with an individual who had done some recent research in this area
and was
actually familiar with this part of the tax code. She confirmed that a
taxpayer would use Schedule 'C' in reporting all expenses related to his
trading
activities and all trading profits would retain their "capital" nature
and be reported on Schedule 'D'. Therefore, Schedule 'C' would theoretically
show
"No Income," and only "Expenses" which would be fully deductible on
Line 12 Form 1040 ("Business income or (loss). Attach Schedule C or C-EZ").
It should be noted that the 2% of Adjusted Gross Income limitation does
not apply to Schedule C losses. And, you DO NOT have to itemize your
deductions on Schedule A in order to realize these investment related
trading expenses.
She also confirmed that IRS documents DO NOT identify or acknowledge a
"Professional Trader" taxpayer classification, and IRS documents do not
provide example scenarios of such a situation in their publications.
She recommended that I purchase a copy of the "1997 Master Tax Guide"
published by Commerce Clearing House (CCH) as a reference guide. (She
confided that the IRS uses this publication themselves when they give
advice to callers since it is more clearly and accurately written in a
"plain-English easy to understand style" than their own documents). This CCH
publication does reference "Active or Professional Traders" whose
trading activities are such that it becomes classified as a business
activity.
Any "tax preparer" or "CPA" in your area will comfortably work with a
CCH tax publication as opposed to Mr. Tesser's consumer oriented book.
When you interview "tax preparers" you can ask them one basic question
as an initial screening technique: "If my market trading activities are such
that they are considered a business activity for tax purposes, how are
my trading related business expenses reported, and how are my trading
profits
and losses reported on my tax returns?"
If they answer in any other way than the way I have described above,
call another preparer. If they need time to do research on the subject, let
them
complete their research and get back to you. There really is only "One
Right Answer."
- -
------------------------------
Date: Fri, 09 Jan 1998 00:39:04 PST
From: "Robert Brown" <sysacct@hotmail.com>
Subject: [CANSLIM] Advice we like...
Advice we like...
Actually, I am rather impressed by the techniques of Daniel
James, the manipulated investment expert. I have been a
devoted subscriber of his newsletters and reports for quite
some time, starting when he was recommending HOT at 15
(currently apx 55).
I would describe his advice is sort of a contrarian, small cap
twist on the outdated ideas Ted Warren and Norris Flemming.
But he does more than look at the signs as those men would.
He looks at the companies from a totally unique perspective,
pointing out indicators and flags of corruption I myself would
never have recognized. He is quite amazing at this.
I just figured if anyone was looking for GOOD advice with a
STRONG recommendation, I say go with him. I have always
recommended him and I will continue to do so.
His website:
http://prism-services.com/stocks/index.html
______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com
- -
------------------------------
Date: Fri, 9 Jan 1998 07:10:09 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] World Mkts
Looks like Asia is continuing to crash, with the rest of the world dropping
1.5% to 2.5% or more around the globe. Looks like another ugly day in which
even a good employment report (and I think it will be) could be largely
ignored, just as the PPI was ignored yesterday.
I would expect another strong day for the bond mkt, maybe even setting
another record for low yield. Unfortunately, this is no longer helping the
banks and financial sectors, as they make a lot of their profits by loaning
long term and borrowing (covering) short term and the current yield spread
has narrowed to only 45 basis pts (BP). Add to that the refinancing of
higher rate loans at new, lower rates, and the banks that held their own
loans are no longer getting as much income from them.
The dollar remains strong, hurting exports and helping to slow the economic
growth rate while also lowering any inflationary pressure. All good, however
there are indications that Japan may be joined by the USA in intervening
against the dollar in favor of the yen.
There are rumors that Intel's earnings due out next week may be stronger
than expected (one of the reasons for its stellar performance yesterday in a
downdraft mkt). Dallas Semi (DS) may have provided a clue, beating estimates
by one cent. Of course, the tech sector overall may get hit today in
sympathy to Adaptec's (ADPT) neg pre-announcement after the close, it was
getting seriously hammered in aftermkt trading. Newbridge Network (NN) also
had a neg pre-announcement on its earnings.
I'm afraid I am starting to get a little numb about this mkt right now. Aw,
what the heck, it's only money anyway!
Any statements or opinions are strictly my own and not that of my employer.
My comments should not be interpreted as a recommendation of any kind. I am
a licensed (inactive) broker and an active investor. All investors should do
their own research prior to any investment, especially one learned about on
the Internet. Hopefully my comments will better inform and educate all
investors.
tom w
- -
------------------------------
Date: Fri, 09 Jan 1998 07:35:29 -0600
From: "WILLIAM DANIELS" <bill.daniels@fedex.com>
Subject: [CANSLIM] Short Term Loss U.S. IRS Rule Info Sought
A friend was trying to describe a U.S. tax rule that prevents one from
considering losses on a stock that was purchased again within X amount
of days. He referred to it as the "wash rule". If anyone is familiar
with this please point to documentation on the law/rule.
Thanks,
Bill Daniels
- -
------------------------------
End of canslim-digest V2 #81
****************************
To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com"
with "unsubscribe canslim-digest" in the body of the message.
For information on digests or retrieving files and old messages send
"help" to the same address. Do not use quotes in your message.