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To: Walter Xie who wrote (48185)9/13/1999 11:17:00 AM
From: John Graybill  Read Replies (1) | Respond to of 53903
 
Actually, it is not the same -- I found out via a nasty call from my broker one day. Going long doesn't automatically cover your short, and now you're technically in control of #short + #long shares. The immediate fix in that case, of course, is that you tell your broker to just close out the short and some of the long, but you get a black mark in your account for a while.