I have done it in the past and will be doing it at the right opportunity.
It depends on your personal circumstances,
i.e Do you intend to hold the stock longer than 12 months to take advantage of the capital gains discount (if you think the stock will bounce). You will have a greater profit longer term.
You might want to offset your profits against losses. To minimise any capital gains, you would do this if you are on the borderline of a tax bracket or you want to shift income to a different financial year to maximise a refund. Also depending on your circumstances reducing any capital gains in a single year can greatly benefit someone that is entitled to family benefits and the childcare rebate.
Also Capital Losses can be carried forward to future years to offset against gains. Use it to take advantage of your year to year taxation circumstances.
