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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: PoetTrader who wrote (1143)	6/20/2001 8:47:42 PM
From: Uncle Frank	of 5205

>> I'm going to ride it out for a week or so, and hope for the expected Fed rate cut to push Cien up and buy Aug45's more than likely... I presume you meant to say write Aug45's. Don't count too much on the fed event. I see it as a lose-lose-lose proposition. If the fed doesn't cut the rate, the market will drop from disappointment. If the fed cuts 25 basis points, traders will sell the news and the market will drop. If the fed cuts 50 basis points, people will think the US economy is in REALLY BIG trouble, and the market will drop. I don't see a winning scenario in this passion play. duf

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