<human>: I currently have 169 shares of CWGIX with a total purchase price of $6528 and a current value of $5660, loss of $868.  The fund is at $33.50 a share and I would need about $39 per share to break even.  Basically anytime the Eurozone or US gets scared this fund tanks.

I'm currently counting this mutual fund as about 50% of my emergency fund, so I'm less inclined to fully fund the IRA.  I would just use the initial $3k to open the account and start autodrafting to it, dropping the remainder into savings and rebuilding my emergency fund.

My question is, would I be better off cashing this out completely, using the loss on next years tax returns, and opening up a Roth IRA  or leave it where it's at and hope that it will rebound in a reasonable amount of time?

Can you provide a brief rundown of the text in within 3 sentences?
<bot>: $900 investment loss (mutual fund is 50% of my emergency fund) vs. opening a Roth IRA for $3k, thoughts?