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

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To: Herm who wrote (11074)6/19/1999 6:50:00 AM
From: JimsJeeps  Read Replies (1) of 14162
 
Hi Herm,
It is time for me to visit our old friend BTGC. I am considering buying back my July 7 1/2's and picking up another 200 shares. Then when it heads for the top BB, sell the Oct 7 1/2's in the 1 1/4 range. The daily chart shows a tag of the lower BB, but the RSI on a steady increase. Although on the weekly chart the lower BB has not been tagged yet, it is still headed south, will the RSI is on a steady climb. Not sure what to make of this, but did notice a 37% increase in volume on Friday. Are we ready for a reversal to the upside? Thanks Herm. Enjoy the weekend.
Jim
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