How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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

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To: hpeace who wrote (1334)	3/18/1997 9:04:00 PM
From: Robert Graham	of 14162

A top is forming, but a downtrend technically has not started. The price has touched its 16 day MA. The volume did not confirm the drop in price. I do not expect the stock to go much lower befoer a pullback to possibly 28. This type of pullback is not unusual for this stock. However, if tomorrow's close is lower than 26, then I think there is a fair chance it will continue on a downtrend to possibly 24. If this were to happen, an increase in volume would also help to confirm the beginning of a downtrend.

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