Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
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
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.