In a previous post you indicated you were short 2500 shares at an average cost of $47. I don't wish any ill will on anyone, but I believe last Monday was you last chance to get out with no loss. PCAR is heading higher from here.
Did not cover and will probably add a little more. I'm happy were it is and will wait for the pull back. Actually starting a short position in NAV were its at. They are in horrible shape and this is a gift where they are trading. Made lots earlier last year shorting them and see lots of pain for these guys in future. They will eventually run out of cash.
I have never shorted a stock and I'm just curious about something. When you short a stock how much $ do you have to keep in your margin account. For example, you shorted at 47.00 per share and the stock is now at 50.46. I would think you have to keep at least $3.46 per share in the account or maybe more. How does this work--I don't think your broker is going to just "trust" you for the difference.
Like we said months ago, he was too early and at that moment much upside 3 to 10 points to come. Now you pay to see if we rally hard to 60 or higher from here...or not We cannot tell you, it's a secret. Shhhh.