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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: cowboyfan who wrote (11051)	6/16/1999 8:33:00 PM
From: Herm	Read Replies (1) of 14162

Wow! Cowboyfan! You picked a heck of a stock to CC for your first time. You like to live on the edge???? Setting the chart to daily plot indicated a low RSI and bounce off the lower BB pending. Although, CMGI was dragging that lower BB lower. I think today was a short squeeze for CMGI. $107 being the next upper price resistance. I would not cover those CCs and I would buy July Calls as a sideshows to cash out later. My choice would have been CCs further out for exactly this reason. More time and CC premies before the CC B.E. is reached and I have to make a determination of the risk/reward factors and not get emotionally or mentally involved. Setting the chart to weekly plot indicates a totally different picture for CMGI. Mostly negative! RSI at 65 and dropping downward. 50 is the last low value. OBV and stocastics both negative and dropping. So, today 20% gain was more of a technical rebound for CMGI. That is why I dislike vipers like this. If you nut is low, then sit back and allow yourself to be called out and do some sideshows. Maybe, we have some other opinions out there????

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