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Author: regulators One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: Re: Buying on margin Date: 7/28/2000 4:50 PM
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Ok I guess im starting to get the picture.
My thinking was that since I maxed out on margin againt my original block of shares...Buying more,lets say 1500 and then turning around and selling them {holding 1 to 3 days}..That in it self would be looked at as borrowing againt a long term position to make some short term plays..

Having the tracking #,exec date and time,quantity,price,net change..At tax time I would use those above values to identifiy the stock used for the short term play...

So your saying that it dosnt matter in this situation because the broker automaticly sells the oldest held stock..{unless I tell them elsewise}...Even though im thinking they cant..My reason for thinking that is because the orignal margin $ value is based on the oldest held stock..

So come tax time I cant tell the IRS that certain stock..Identifiable by there tracking # was bought and sold for the short term..While tracking #'s representing stock bought 9 mo's ago are a long term play and were never intended to be sold only borrowed against...


Sorry if im getting redundant...chuck
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