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Steve,
I would disagree with your assertion that
'covering' is commonly used to refer to a 'flattening'. While I
understood perfectly what you meant all along, the more common
use of 'covering' is to flatten a short
position. Nobody suggested that 'covering' referred to the initiation of a
short position.
Martin.
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Steve
Karnish
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Wednesday, April 17, 2002 9:31
AM
Subject: Re: [RT] Sell signals
"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 coveringthem now?"
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
<A
href="http://www.cedarcreektrading.com";>www.cedarcreektrading.com
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Neal
Chabot
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Wednesday, April 17, 2002 1:07
AM
Subject: Re: [RT] Sell signals
Steve,
By "covering" do you mean "selling out"?
Just to be clear since "covering" usually refers to shorts.
Neal
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Steve
Karnish
To: <A
href="mailto:amibroker@xxxxxxxxxxxxxxx";
title=amibroker@xxxxxxxxxxxxxxx>amibroker@xxxxxxxxxxxxxxx ; <A
href="mailto:metastock@xxxxxxxxxxxxx";
title=metastock@xxxxxxxxxxxxx>metastock@xxxxxxxxxxxxx ; <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Wednesday, April 17, 2002 12:09
AM
Subject: [RT] Sell signals
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
<A
href="http://www.cedarcreektrading.com";>www.cedarcreektrading.com
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