To: John M. Allen who wrote (26) | 8/22/1997 6:58:00 PM | From: The Barracuda™ | | |
I've finally been able to place a computer order to buy the shares. There are now two mrkt makers in the shares with a 3rd comming shortly. I called and asked the first mrkt maker;it seems my broker uses a different system and so until today I was undable to do Internet trades. |
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To: John M. Allen who wrote (26) | 8/23/1997 10:30:00 AM | From: The Barracuda™ | | |
John, until you sell the shares you won't be able to get the tax loss for you tax return. You can always sell them and buy them back in 31 days if you think the price is right. The shares are currently bid at 1/2 - 1 1/4 How many you want to sell?
Robert |
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To: The Barracuda™ who wrote (28) | 8/23/1997 5:15:00 PM | From: John M. Allen | | |
Well now, Robert, let's see. 353 shares at .50 = $176.50. After commissions and my gas to go to the bank to cash the check , I should have, oh maybe, a hundred bucks or so. I could write off my loss and then buy back the shares at 1.25 for a total of $441.25 plus commissions and a stamp to make the payment. Hey, then I could again sell at .25 for another tax writeoff. Perfect! Don't know why I didn't think of this before! Thanks! |
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To: John M. Allen who wrote (29) | 8/23/1997 11:27:00 PM | From: The Barracuda™ | | |
Hello John:
I don't know what you tax loss is on the Warehouse but if it's large enough, it would pay to do this. Also, the shares are dead right now you might be able to get them cheaper (or maybe not) later.
The tax side if you have a $10,000 loss and it's short term this would yield about $3300 in tax savings. If you wanted to own 1000 shares of ngld at 1.25 the cost would be $1250. So by my math $3300 - $1250=$2050
Something to think about.
Regards, Robert |
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To: The Barracuda™ who wrote (30) | 8/24/1997 2:13:00 PM | From: John M. Allen | | |
Thanks, Robert: On the serious side, what you say makes perfect sense. I will indeed check it out. This was IRA money so I'll check with my CPA. Thanks again. |
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To: John M. Allen who wrote () | 8/27/1997 11:25:00 AM | From: The Barracuda™ | | |
John, NGLD now has a bid & ask of .81 x 1.0
I got a fax yesterday from IBK Capital Corp that suggests that NGLD is currently in negotiations (reading between the lines) to finance the start up of mining in Nevada and California |
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To: John M. Allen who wrote (35) | 8/28/1997 12:37:00 PM | From: The Barracuda™ | | |
yes that was me. I tested the market yesterday by selling 2000 shares at market; before there was the bid/ask posted, a 100 share sale would break the stock, so to test the depth I sold 2000 at mrkt and they were taken up. I then bought the 2000 shares back and 5000 more.
New Gold is currently working on getting financing for their NV and California gold mines into production; if they are sucessful, I think that there will be a positive reponse by the market to the companies efforts.
I don't know who did the other shares. |
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