Welcome WorkNoPlay (and thanks Cintrix!)
Capital Losses can offset Capital Gains without limit. For instance:
2010 $10,000 capital loss. $3000 offsets wages and other income, $7000 carried forward to 2011.
2011 $10,000 capital gain. $7000 of it is offset by the capital loss carryforward, $3000 of gain remains and will be taxed.
So here's to a successful, tax-sheltered 2011!