Hi fellow fools:Need some REALLY BIG help!! I bought 1000 shares of XYZ and sold the stock for a short term profit of $2000.00. 5 days later, after I saw the stock tank I repurchased 1100 shares and I began to see the stock making me more profits. However, the stock reversed course and hit my stock loss quote for a loss of $1500.00. I figured I had a net profit of $500.00.I'm positive some some group delibertly caused the stock to tank contributing to my $1500.00 LOSS but that another story. 14 days after I sold the stock for the SECOND TIME, the XYZ COMPANY put out an anouncement verifing why I bought the XYZ stock the 1st and 2nd time. I now want to buy the stock back again( the THIRD TIME) because I'm certain the stock will advance smartly and MAKE ME ANOTHER PROFIT but AM afraid to make a purchase because of the 'WASH RULE'.I asked this question on another FOOL Board and was given two articles to read and was refered to this specialized FOOLS board. Please correct me if I'm wrong: I'm in violation of the 'WASH RULE' already because THE SECOND TIME I BOUGHT AND SOLD 1000 XYZ SHARES(FOR A $1500.00 LOSS) WAS ONLY 8 DAYS AFTER MY ORIGINAL 1000 SHARES SALE NETTING ME A $2000.00 PROFIT? ARE THEY SERIOUS? OR ARE THEY JOKING?I Know the rule states that...' if you sell stock for a loss and buy it back within the 30 day period BEFORE or AFTER THE LOSS-SALE DATE, THE LOSS CANNOT BE IMMEDIATELY CLAIMED for TAX PURPOSES'. Was someone SMOKING SOMETHING at the IRS when THIS RULE WAS MADE OR INTERPETED???Did the IRS thinK I bought the XYZ stock THE SECOND TIME to DELIBERTLY LOOSE MONEY??? BULL, I BOUGHT IT TO MAKE ANOTHER PROFIT. I asked the question to another FOOL'S board BECAUSE I WANTED TO BUY IT AGAIN FOR THE THIRD TIME!!! IS THIS INTERPETATION CORRECT? AM I GOING TO LOSE THE $1500.00 BECAUSE I BOUGHT THE XYZ STOCK THE FIRST TIME BEFORE I TOOK THE LOSS THE SECOND TIME??? PLEASE, PLEASE SAY IT ISN'T SO. HOW CAN I CLAIM THE $1500.00 LOSS? HOW CAN I BUY THE XYZ STOCK AGAIN FOR THE THIRD TIME WITHOUT VIOLATING THE INFORMUS ' WASH SALE RULE'. PLEASE TELL ME WHAT I HAVE TO DO??? Thanks a million FOOLS for your help.
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