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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: sam_o who wrote (19581)9/19/2000 6:17:56 PM
From: re3  Read Replies (2) of 436258
 
re nem, hm, au :

i have mixed feelings about NEM, i think that it tends to be a darling on this side of the atlantic, and that, ultimately the s.africans are better value.

re HM, i like it more than NEM but i have some oct 5 calls on it bought at a higher price :(

re AU : the option volume is high. this is not my biggest gold holding, the franco/gold combo is, followed by harmony which is well liked by many here. what i'm trying to do with au is write a covered call at a strike price of 20 to collect the premium until (if) it gets called away, then i'll only repurchase under 20. i'm keeping track to see how this strategy works out. i used to buy calls on gold stocks and will not do this again, the primo is too high. i am puzzled who'd be as much of a knucklehead as i was to pay such high primos for a one month right to buy my shares at higher prices than they are now. but, heck that's what makes markets...

good luck
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