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In a message dated 97-12-12 18:15:27 EST, meyer@xxxxxxxxxxx writes:
<< Let's say I am short in one account. I feel that over the next 30 day the
price is
going lower. But I see on the chart that there is going to be a couple of up
days and I want to take advantage of it without closing my short position
since. Since you can't be both long and short at the same time.
This is something new so I am learning along the way. It isn't something I
do all the time. It is more of seeing an opportunity when it comes.
Here is an example of a trade I took about a month ago. I was short ONSL and
saw that it was bottoming out intraday. I didn't want to cover because you
can get locked out trying to wait for the up tick. So I went long in the
other account and made a small profit. >>
Hi Harley,
I understand what you are trying to accomplish, but can't
understand why you are not using options instead of actual shares. It is very
common to be both long and short the same security in one account using
options; straddles, spreads, etc. Even if you wish to hold some stock or
short it you can take the opposite position in options, calls or puts, in the
same account, called headging.
Good luck and good trading,
Ray Raffurty
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