Close Position
The act of taking the opposite position of the current position thereby getting out of a position in a particular stock or security.
Also referred to as "Closing Transaction." Investopedia Says:
If a broker recommends that you close your long position on a stock they mean "sell it immediately." For example if you have a short position in a stock for you to close the position you will need to take a long position, or in other words you have to buy back the stock. Related Terms:
Buy
Long (or Long Position)
Sell
Short (or Short Position)
Trade
Weak Shorts |