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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 (11986)12/2/1999 10:13:00 PM
From: Dan Duchardt  Read Replies (1) of 14162
 
Herm,

Are you still following ABTE?? Gave us a nasty dump today on news of possible earnings restatement resulting from an SEC investigation. The vultures immediately descended with Asensio putting out one of his scare letters hinting at bankruptcy (no foundation for it that I can see), and then this evening the law firm handling an older class action suit seeking leave to amend their complaint to include the issues raised by the recent investigation. I had noticed that ABLE was late in reporting their earnings, but never saw any news about it until now.

Anyway, I've made some money on this one over the last few months, but I'm regretting I didn't bail out this morning around 9 when I had the chance, and even more so that I held out for one more day instead of taking what was there when it touched 11 yesterday. I'd be interested in your thoughts on this one.

IFMX is doing another of it's deep pull backs, touching the level it was at when I sold it (in lieu of writing ITM calls) the day before it took off. I'm looking for a re-entry point. Support at 9 looks possible, but there is plenty of room to fall before tagging the lower BB with low RSI. On the other hand, I don't see any solid lower BB tags or low RSIs on recent pull backs. Any thoughts??

TIA

Dan
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