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Stocks A / American Eagle Outfitters

URL:  https://boards.fool.com/wash-sale-rules-27218599.aspx

Subject:  Wash Sale Rules Date:  11/23/2008  10:09 PM
Author:  jrr101 Number:  1218 of 1230

I'm long this stock since 11/07. Obviously it has taken quite a dive since then. Any investors out there more seasoned than I (which is probably most of you), please feel free to call me crazy or whatever, but here goes.

Since I'm down roughly 68% right now, and I don't see a turn around in the near future, any thoughts on selling now and re-purchasing shares back after 30 days in order to avoid the IRS wash sale rule and taking the capital loss in order to offset some tax liability?

Essentially, is it worth it and has anyone ever done this or is anyone contemplating it?

I just really don't see much upward movement possible between now and the end of December, seems like a pretty safe bet. Or is it so cheap right now that it's going to move higher due to bargain hunting?

Thanks

JR
A very foolish investor
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