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Technology Stocks : Source Media SRCM
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To: Michael Bidder who wrote (1076)8/27/1998 6:39:00 PM
From: Smilodon  Read Replies (2) of 3015
 
You keep the borrow and don't need an uptick.

Say your broker has 1000 shares to lend. If you have them borrowed and are short, someone else cannot short through that broker. If you cover, they then are free for someone else to short. When you go to short again, you cannot get the borrow as someone is already has the shares. If you buy, and don't cover (ie. box) you do not give up the borrow. Then, to go short again, you only need to sell the shares you are long. No need to borrow or wait for an uptick since you are selling a long position.

Regards,

Archer
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