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

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To: virgil vancleave who wrote (13309)	10/10/2000 10:22:26 AM
From: Herm	Read Replies (1) of 14162

Hello Virgil and Everyone Else! You have remarkable instincts for the stock market Virgil. I recall when you announced your bearish mood the last time when everyone was thinking up, up, up! WOW! There have been some down outright haircuts in those tech stocks once again. History repeats itself over and over. As a sidenote, this month in the coveredcalls.com newsletter I'm doing a follow-up to one of my topics last month on MSFT which is approaching the next bottom support level of $50. There is a good chance for some kind of dead- cat technical bounce upward. A reader emailed me a month ago asking how and why MSFT was appearing on our LEAPs Bear PUTs reports. One of the technical reasons I gave over a month ago after reading the charts was" "You can see in the chart below where I underlined in red the low RSI readings in the past 4 years for MSFT which appears to be a solid 30 RSI. The current MSFT reading is about +40 RSI. Meaning? MSFT sure can go down in price beyond the current $70+ price! The +40 RSI tells me that the bottom for MSFT can go lower than the current RSI trend and a declining stock price of $70.00. So, you see I'm using the RSI and charting as a doctor uses an x-ray to see the big picture. It would take some major good news to pull MSFT out of this decline. And, with the pending court case outcomes, you can see how the fundamentals are being played out in our technicals as being presented here for you." stockcharts.com[L,A]WALLYYMY[PC20!D20,2!F][VC60][IUB14!LG] I had another fellow who could not believe AAPL was on the LEAPs Bear Put list when AAPL was at around $68 in early September. Today, it's around the low 20s. stockcharts.com[L,A]WALLYYMY[PC20!D20,2!F][VC60][IUB14!LG] MedVed Stock Quote Tracker By the way, Virgil. I don't know if you are aware of the free fantastic quote tracker by MedVed? They just released another update. I use it with our Silicon Investors free real-time data streaming off this web. It smokes bigtime all for free. You can see Level-II orders on the ECN sidelines for razor sharp price entry and exits. A real plus for the serious covered call, LEAP Spread writers. You can pull it off my web site and some other free software goodies for investors. leapspreadswins.com Enjoy! Herm mailto:wins@adelphia.net coveredcallswins.com

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