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...the broker knows which one you bought first....

Yes, he does. All the trades are date/time stamped down to a gnat's patootie--there are too many trade/execution liabilities involved to not have such close tracking. But the the taxman does let/make me treat same-day executions as simultaneous.

Here's another instance where that's useful, not directly related to this board. There is a rule (72T?) that generates the following condition. If I sell stock A, I can use the unsettled proceeds from that sale to buy stock B, but the rule says that I cannot then sell stock B until the sale of stock A actually settles (typically three days after that sale). I can, though, sell stock B at any time on that 3d day, or on the 4th day, at my convenience.

I don't have to wait until 72:00:00.0000 business hours after the moment of execution of the stock A sale.

Eric Hines
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