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<p>[QUOTE=&quot;desertgem, post: 1528223, member: 15199&quot;]My understanding of the terms are&nbsp; (1) If you have possession of an entity such as a share, option, future contract, etc. you are &quot;long&quot;. (2) If you then sell them or never had them, and have zero units in hand or account, you are &quot; Out of the market&quot; on that specific unit (s)&nbsp; or (3) If you sell something such as above that you borrowed from your broker or you don&#039;t have and don&#039;t intend to get,&nbsp; &nbsp; ( naked ) ,you are &quot;short&quot;. </p><p><br /></p><p>If you have 10 oz of silver ( you are long 10 ounces) , if you sell 9 of them , you are still long 1 oz. Sell that one and you are out of the market. If you have 10 ounces and sell 15 ( 5 which you borrowed from the broker), then you are short 5 ounces which must be returned within a certain time and you are charged a fee ( margin ) for that time until they are returned. I am not sure if the &quot;pool&quot; you mentioned allows short selling, but I would be interested in the margins they charge for shorting with their PM.</p><p><br /></p><p>This is why I was a little confused about your use of &quot;short&quot;.</p><p><br /></p><p>Jim[/QUOTE]</p><p><br /></p>

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