Just because something is taxed at ordinary income tax rates does not make it ordinary income.

Your post made no mention of Long or Short, so I felt it needed to be clearly stated.

The short-term holding period is one year or less.

The long-term holding period is more than one year.

Short term Capital Gains tax can be something other than ordinary income rates once you take into account "The Netting Rules"

And for that topic I ask you consult with a tax consultant.

http://www.smartmoney.com/personal-f...