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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (905)	11/25/1998 11:08:00 PM
From: Abner Hosmer	Read Replies (1) \| Respond to of 1707

Yeah. If you buy the stock back within 30 days, it is considered a wash sale. You don't get to write it off. Trades settle in 3 trading days, so yesterday's trades settle on Dec 1. So if you sold before today, you can buy it back on Jan 1 and still take the tax loss. If you wait, you have to sit back when January comes around and watch the rest of us trade while you are effectively locked out. So there was a strong incentive for most folks down here to have their tax loss selling done before today. So I think the houses sat out to wait for everyone to dump. Now's a good chance to accumulate a few again.