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You have the correct answer -- Permanent without IRS permission to go back. However, if you want documentation to support this position, go to IRS.gov, then to to forms and publications and download Publication 550. Page 64 provides a good summary -- you can also download Revenue Procedure...

I started scalping on the NYSE late last year and thought I had discovered a gold mine. Working in stable stocks I could trade 2000 shares round trip for a tenie 3 to 6 times a day with almost 100% success. That is $300 - $600 a day (using DATEK Online at $10/ticket) for 4-5 hrs. work -- not...