Took a loss

[TechOps]

I recently bought 60 shares at 240.. then sold at 185. While my strategy is not buy high, sell low, I decided to take a loss on my bet, since I intend to re-buy and hold long term, so I might as well take the loss now to offset income. I have to wait more than 30 days to avoid the wash sale rule, so if the stock jumps this month I'll be hosed, but I'm again making a bet that it won't... let's see.

 

[TheTalkingMule]

That's awesome.

 

[VT_EE]

Hopefully you have some good gains somewhere else to offset that loss. I doubt the stock will jump until after the quarter ends. If the rumors are true, they may get close to being profitable again.

 

[TechOps]

Hopefully you have some good gains somewhere else to offset that loss. I doubt the stock will jump until after the quarter ends. If the rumors are true, they may get close to being profitable again.

I do, plus you can use up to 3k of the loss to offset salary, and at the quantities I'm dealing with (gambling money, essentially), my loss is sub-3k.

I'm banking on the stock staying low this month, and jumping after Q2 numbers are released end of July.. but it's just a hunch based on observing past behavior; there are many variables at play here so let's see.

 

[Silicon Desert]

Isn't it a bit early in the year to be thinking about selling to offset income? Unless you have other reasons of course. You know there are other strategies you can use so that you would not have had to sell the stock, yet protect further loses. I've never been a fan of options, but some people use that strategy.

 

[pz1975]

Everyone should start a new thread to tell their trading story.

 

[xfea]

I recently bought 60 shares at 240.. then sold at 185. While my strategy is not buy high, sell low, I decided to take a loss on my bet, since I intend to re-buy and hold long term, so I might as well take the loss now to offset income. I have to wait more than 30 days to avoid the wash sale rule, so if the stock jumps this month I'll be hosed, but I'm again making a bet that it won't... let's see.

Please fill us in on any future trades - you're a PERFECT contrarian trade!

 

[anthonyj]

I bought ur shares ty