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: Herm who wrote (13317)	10/11/2000 12:08:42 PM
From: virgil vancleave	Read Replies (2) of 14162

I couldn't help myself this morning and covered my short on swcm at 166. I may have been a little early, but why get greedy? I made a nice 15% return for 2 days on my money. I needed the equity to buy some efii which was on a fire hot sale. I bought at 16 3/4, and think I will hold and just sell at 19 to 20 once the market recovers. I also bought some pdg at 8 3/8 and will sell for around 9 in a week or so. I changed my market outlook as I think we are seeing at least a short term bottom this morning. Earnings season is here and efii has already stated they will meet revenues for sure. I also noticed that efii is buying a little company called splash tech which looks attractive even at the buyout price. It has no debt and near $6 in cash and positive earnings, with efii buying it for $10. The more I see, the more I am liking the looks of efii, including the low price to sales ratio and the $8 cash per share with no debt. Good luck all. I will post more later on the general market and my viewpoint. As I said, I think this may be a good buying point here for some short term upside profits, as well as a good time to cover your shorts!

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