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To: stock bull who wrote (60260)8/23/1998 1:45:00 AM
From: Moominoid  Read Replies (1) | Respond to of 176387
 
I don't understand why you
would have lost more money by covering a short position when the stock gaped up


The stock was about 109 at the close I think. They issue the report. Then if I place a but order then it will fill when the market opened at 120+. By the end of the day the price was 117 something. So if I waited to the end of the day I claw $3 a share back.

Is there something wrong in my reasoning?