Ann: December Quarterly Report , page-20

Fine actually... You just do not get it do you.

When you short a stock you get the "cash" IE $9.15 per share. I then open a long position in XYZ Ltd using that cash. (need extra collateral for margins)

The question is NOT has NCM gone up or down but rather has NCM gone up or down against my long position.

So as not to cross promote lets say XYZ is a gold producer that I believe is a better proposition than NCM. My trade is short NCM Long XYZ. I am not interested in how they perform individually but rather what is the relative performance. XYZ could be anything eg gold, asx s&p500 or even a basket of stocks.

disc short