Tax Loss SellingI haven't done too much deliberate tax loss selling, so this is more of an exercise in thinking out loud and waiting for corrections to come pouring in.
Is it possible that the share price at $6 is low enough that many people can sell it, wait 30 days to buy back in even at $9, and make money? i.e. if they had an ACB of of $12, sell at $6 or below and effectively get to write off $3 in capital gains. As long as they can buy back in at $9 or better, they are even (at worst) or well ahead if the share price is still kicking around $6 a month from now.
Does anyone know if this is right, or am I missing some other tax implications here?
I'm in Canada btw.