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"By "covering" do you mean "selling out"?
Just to be clear since "covering" usually refers to shorts."
"Have you shorted these before that you're covering
them now?"
"You've written you've got 'sell' signals and yet you are 'covering'. "
List,
I used to suggest "shorting" the market...but I spent my entire day
answering emails from the public about: "How can you sell something you
don't own?" So, a couple years ago, I started just recording the "buy,
hold, sell, move-to-the-sidelines trades".
"Covering" never means instituting a short position (by any traders
dictionary). "Covering" commonly refers to "flattening" a position. You
have an open position and you "offset" it by "covering" it. In my case, I
was long (had previously purchased) about 35 stocks. This morning I'm
"covering" about half these open positions, by selling, fifteen issues.
I hope this is clearer? The important point is the coincidence of selling
signals across many different sectors. This occurence is "out of the
ordinary" (it just hasn't happened during the past three years).
Take care,
Steve
www.cedarcreektrading.com
----- Original Message -----
From: Salil V Gangal <salil_gangal@xxxx>
To: <amibroker@xxxxxxxxxxxxxxx>; <metastock@xxxx>;
<realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, April 17, 2002 6:48 AM
Subject: Re: [amibroker] Sell signals
> Hi again Steve,
>
> >>I've decided to "warn" the list that I have NEVER recorded fifteen sell
signals on
> a single day...NEVER (three years running). Tomorrow morning, I will be
covering
> positions in: ADBE, ALTR, AMAT, BEAS, CHIR, CMVT, CTAS, ERTS, KLAC, LLTC,
MERQ,
> NBR, NSM, NVLS, & TER.<<
>
> I guess like Mike Pham, I too am confused about your message.
>
> You've written you've got 'sell' signals and yet you are 'covering'. Nope
... I
> don't get it.
>
> Regards,
>
> - Salil V Gangal
>
> --- Steve Karnish <kernish@xxxx> wrote:
> > List,
> >
> > During the last three years, I have posted nightly, buy and sell signals
at my
> > site (for about four dozen equity issues). The mechanical signals are
generated
> > by a momentum oscillator, bouncing above and below "triggers". Usually,
when a
> > cluster of buy or sell signals occurs, within a reasonable time, the
market
> > reacts.
> >
> > I've decided to "warn" the list that I have NEVER recorded fifteen sell
signals on
> > a single day...NEVER (three years running). Tomorrow morning, I will be
covering
> > positions in: ADBE, ALTR, AMAT, BEAS, CHIR, CMVT, CTAS, ERTS, KLAC,
LLTC, MERQ,
> > NBR, NSM, NVLS, & TER.
> >
> > Hey, don't want to scare anybody...but, maybe someone is interested in
market
> > direction "factoid". It is what it is.
> >
> > Take care,
> >
> > Steve
> > www.cedarcreektrading.com
> >
> >
> >
> >
>
>
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