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: jaytee who wrote (13405)	11/8/2000 12:59:57 PM
From: virgil vancleave	Read Replies (1) of 14162

Hi again jaytee and all: Just thought I would update on some of my latest trades and ideas. I sold hi short at 52 and covered this morning at 50 5/8 for a little 2 day gain. I am still short hgsi and think it will break below 90 soon, maybe even today. It is so overvalued at this level it is funny. I am waiting for oat to get back above 90 now that I have some free cash once again. It has mega debt and trades at a price to sales ratio of over 2. That is quite high for a company that sells food products. Just think, if you are long, for every dollar invested, you buy $2.50 worth of long term debt and no cash! WOW. Now, for a few long ideas. I sold my hlit too soon and will think about picking it back up on weakness. I also like egls, sfam, and ames. The ames calls a few months out have a nice premium. With the price at under 5 a share for ames, it seems people are thinking the company is going out of business. I don't think so, as looking at insiders, they are buying and above current levels. I will get back with more later. Good luck

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