shorts has push neoprobe down where I had a hugh paper loss; however, I have a $125,000 short term capital gain for 2011. I agree completely with dd buyer and believe in the long term thesis of neoprobe. so I sold 30,000 shares and 5 minutes later bought 30,000 shares to reduce my short term capital gains for 2011 substancially. thanks shorts!! and long and strong for 2012!
Wash rule applies. One strategy is to buy 30,000 shares (or whatever #) and hold for 31 days and then sell the others. That would have achieved the write off, and I have done it numerous times. (But volatility of NEOP is obviously an issue).
just got off the tax page on walsh sales and you guys are exactly right. now I have to sell and wait 30 days-- think I'll forgo that strategy and figure out something different. long and strong for 2012.
Unless you are a mark to market day trader (and you may be), you may want to read the IRS wash rules related to the allowability of losses when stock is repurchased immediately after loss sale. Just sayin