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Old 01-11-2008, 02:55 PM
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Join Date: Jan 2007
Posts: 9
What does Wash Sale Rule mean and could it apply in my situation?

Currently, I own some high tech stocks such as Rimm, VMW, Bidu and Yahoo. With the today's market turmoil dow down -279, and Nasdaq down -41, I was thinking of selling all my tech stocks and taking whatever losses that I sustain.

But, I am interested in buying back all of these stocks back after Fed reduces interest rates on Jan 28th. Somebody told me that if I did that I would be subject to the Wash Sale Rules.

What exactly does this mean and would I be subject to these rules?


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