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Tyco International Ltd. Message Board

  • howshrewdcanibe howshrewdcanibe Oct 28, 1999 1:53 PM Flag

    Expect more selling tomorrow as

    weaker hands continue to capitulate. The weak
    performance of TYC vs S & P these past few days is
    particularly troubling. Market is still range bound between
    10100 and 10700. If market retreats several hundred
    points, TYC will be severely tested to hold support at
    38-39. Finally, any bounces on light volume are suckers'
    rallies. That's little guys bottom fishing. You'll know
    when to buy when you see the stock bouncing up on
    heavy volume.

    Shrewd

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • 13:02:28 PST 185,700 shares at 44 1/16 Bid 43 15/16, ask 44 1/4.
      I don't see any trade of 253K shares after 13:00 PST...

    • What we saw was the concatenation of a earnings
      sell off (great stocks are all selling off after
      earnings, watch jdsu tomorrow), tice confusion, a double
      top. Now tyc is still a great company and great stock,
      so it'll come back, probably now as market
      confidence rises. It's just the extremes of psychology.

    • A large block trade of 253,000 shares crossed at 4:05 (et). Someone buying $11 million likely knows something.

    • IMO, we wouldn't see such a dramatic reversal
      with such huge volume unless something is up.
      Continuing on the theory that the smart money is usually one
      step ahead of the game, I'm thinking that maybe the
      rumours from Fly-on-the-Wall -- TYCO supposedly will
      release a report confirming no accounting irregularities
      -- may have some substance. . .? Maybe something
      like that is what's needed to eliminate lingering
      uncertainty from the Tice B.S. I think a lot of players had
      the attitude of "why gamble on a stock with lingering
      uncertainties when there are so many other out there to choose
      from?" Of course, the big boys have probably been
      manipulating and accumulating all this time at the lows, and
      are ready to reap the rewards. At least that's what
      I'm hoping, since I'm still long.

    • Then stay long and you might be able to afford to entertain one :)

    • here's that damn Thomson I-Watch link again... enter tyc and check out the pie chart for institutional trading

      http://www.thomsoninvest.net/iwatch/cgi-bin/iw_page

    • Yeah, I'd like to be on a warm beitch!

    • if you are a daytrader, technically you should do
      all the cost basis calculations but to be practical
      it doesnt make any difference in you tax and in my
      experience the IRS doesnt really bother you. As a daytrader
      I can say the math gets mind blowing so just report
      your short term gains and loss. IMO

    • Wash sale rules are commonly
      misunderstood.

      A wash sale occurs when you sell a losing position
      and then reestablish substantially the same position
      within thirty days. People used to do this late in the
      year so they could take a loss against their gains for
      the year and avoid paying capital gains
      taxes.

      Under current irs regulations you can not use a wash
      sale loss in the computation of your yearly gain or
      loss. Instead, you adjust the basis of the new
      investment so that it includes the loss you
      incurred.

      The summary is that you do eventually get to write
      off the wash sale loss, but not until you actually
      exit the position in a clean fashion (ie., without
      reestablishing a position within a 30 day window on either side
      of the sale).

      As an example,

      1/1/99
      Buy 100 ABC @ 50
      1/15/99 Sell 100 ABC @
      40

      Your loss is 100*10 = 1000

      so you can use this
      -1000 to offset capital gains (or just take a net loss
      up to 3000/yr)

      But, if you then
      execute

      2/10/99 Buy 100 ABC @ 42

      then because you
      re-established substantially the same position within 30 days,
      you can not use the loss directly in the 99 tax
      year.

      Instead, you add the 1000 loss to the basis of your new
      shares, so your new basis is 42*100 + 1000 + all
      commisions.

      So if you turned around and sold ABC before 12/31/99
      then you can take your loss of 1000 + commissions +-
      your gain from 42/share. If, on the other hand, you
      still hold the 100 ABC on 12/31/99, you can not take
      the loss in 1999.

      Hope that clear it
      up.

      h

    • we need a few more closes on the upside for confirmation. i hope that tyc will always close higher than its open in the next few days.

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TYC
44.62-0.07(-0.16%)Aug 29 4:00 PMEDT

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