Magal Security Systems (MAGS) Message Board

This seems to be the correct answer to the question of wash sale.

thanks

Just go to google and type in wash sale. You will find several good articles. If you read them over several times they will begin to make sense. Also you can follow the December advice. Some people don't like to liquidate, but the next year you can subtract all of your losses on your taxes.

Wash sale applies if you buy within thirty days of the sale. (And you probably will) But the next time you sell at a profit, you will be able to deduct the wash loss.
I've done these on my taxes many times.

Thanks and yes it is confussing and in the past I have waited more than 30 days

anybody else have a comment about wash sale?

Thanks for straight answer.

I have been reading much about this today and the rules were written by people from the rocket science industry.

Very true and a great observation. If I can add to your post here?

You may want to plug in other indicators to confirm your analysis. The greatness of using tech indicators is that they provide hidden value to an equity, commodity or any trading instruement in the market. Also, get to know your stock and how the stock trades, go back in time and look at the behavior of the stock in relation to the indicators and vice versa using 1,2 maybe 3 technical indicators. Nevertheless great post and we are all watching this stock. It's unfortunate that people bash stocks especially a leading company such as MAGAL with 40%+ market share, market presence 5 continents, 3 major category products with twelve underlying products, in a market niche, an experienced management team, huge market opportunity and great financials! The market looks for these three major corporate characteristics mentioned above! I was long and got out on Friday because I paniced but I will get back in you can bet on it!