bumps in the road., page-6

Don't forget the time of year as well - this is certainly the tax loss season. With the price doubling in the last week or two, even more incentive to hop out of the stock.

The ATO released a statement some time ago saying that if you sell and buy back over a short period for tax purposes only, that you may not be able to claim the tax loss - Try googling "ATO wash sales" for further info or speak to your accountant.

Don't know how hard this ruling will be enforced. I'm fairly sure there wouldn't be too many people sitting on big profits from the past 12 months. I'll certainly be forwarding a capital loss into the 2009/10 year.