Not P but Moby-Dick (66)

[Mike Jing]

>From Chapter 84:

Handling the long lance lightly, glancing twice or thrice along its length
to see if it be exactly straight, Stubb whistlingly gathers up the coil of
the warp in one hand, so as to secure its free end in his grasp, leaving
the rest unobstructed. Then holding the lance full before his waistband’s
middle, he levels it at the whale; when, covering him with it, he steadily
depresses the butt-end in his hand, thereby elevating the point till the
weapon stands fairly balanced upon his palm, fifteen feet in the air. He
minds you somewhat of a juggler, balancing a long staff on his chin.

What does "holding the lance full before his waistband’s middle" mean
exactly?

And what is "covering him with it"?