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Dick....
To me it makes more sense to not have a position if I want to be "flat." I
never worry about the uptick rule because I never short a stock. It is tough
enough trying to make money on the upside, let alone trying to do the same on
the downside. But regardless, I understand shorting etc., and I will always
contend that being long and short at the same time borders on lunacy, unless
of course, it is for tax purposes, which is "short against the box."
It appears to me that in Harley's case, he is trying to work out of a losing
position and that as soon as he gets even, he wins. Making all these
investment decisions (being long and short) to accomplish that just doesn't
make sense to me. Trading the long side to make $50 while having the short
side continue to build up a loss, is not logical investing or trading. I am a
strong believer of....if you like a stock, buy it. If you don't, stay the
hell away from it.
If you like a stock, you buy. One decision! When you get to not like it, you
sell it. A second decision! It is done!!!!!!! That is not the case if you
are long and short....you are only, quite possibly, half way through your
decisions.
And the tax consequences of long and short trading have yet to be discussed.
Jerry
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