Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: marc chatman who wrote (34803)	1/11/1999 2:05:00 PM
From: Redman	Read Replies (3) of 95453

Shorting against the box has been eliminated as a way to defer taxes. It now requires the short position to be "covered" with newly purchased shares, as opposed to the shares already owned, and those must be held for ??four months (some time frame like that). However, considering it is a hedge fund that Slider mentioned, they are probably going off charts and were hedging their position while the technicals looked bad and were not looking to go net long again until they turned up. Once Techs turn up, they will purchase shares to cover their short and remain long once again. Red

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