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short coverers/buyers



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Harley Meyers wrote:

"...Well as far as I can tell the smart money was covering their shorts on
Friday. That is why we had the end of day rally in the DJIA. These were not
buyers but coverers of shorts. ...

Please explain.  When I cover a short, I must buy.  When I go long (buy) I
must sell to collect my profit.  Why do you say that a short coverer is not
a buyer?  That is the way it reads on some confirmation slips I am
reconciling at this very moment.

Al Taglavore