I'm contemplating converting some of my traditional IRA funds into a Roth IRA. My thinking is that with the value of my traditional IRA being down due to the latest stock market gyrations that it would be good to do the conversion now rather than wait for (hope for) a turn around. If I make the conversion now I'd be able to lock in future gains as tax free. I'm also looking to have more flexibility in investment options which are available under a Roth that aren't available under a traditional IRA. I'd appreciate any feedback on this thinking.