As a sidenote, if Greg did in fact crap out of his SLV short and then re-enters the short within 30 days he wiped out his ability to write off any loss he incurred because of I.R.S. tax loss rules for stock traders. He most definitely incurred major losses onthat short as he was telling us he was short even as SLV was trading near 15.50. If he did not have confidence in teh trade he should have never entered it in the first place. I am alos short (and losing BIGLY) SLV. I happen to like the short even better now. So I will simply add to it and even if my previous short ends up a loser I will then be able to write off the loss plus enjoy the gain on the new entry. Greg never discusses the rammifications of closing a loser and then getting back into the same trade if you are trading outside of a tax exempt trading account. And it is an important thing to consider so I figgerd I'd cover it.
As far as we "know"...Greg is still short SLV...which happens to be the "correct" trade...cept he doesn't know it yet. :-)
As a sidenote, if Greg did in fact crap out of his SLV short and then re-enters the short within 30 days he wiped out his ability to write off any loss he incurred because of I.R.S. tax loss rules for stock traders. He most definitely incurred major losses onthat short as he was telling us he was short even as SLV was trading near 15.50. If he did not have confidence in teh trade he should have never entered it in the first place. I am alos short (and losing BIGLY) SLV. I happen to like the short even better now. So I will simply add to it and even if my previous short ends up a loser I will then be able to write off the loss plus enjoy the gain on the new entry. Greg never discusses the rammifications of closing a loser and then getting back into the same trade if you are trading outside of a tax exempt trading account. And it is an important thing to consider so I figgerd I'd cover it.