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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 (13438)11/28/2000 7:02:13 PM
From: James F. Hopkins  Read Replies (1) of 14162
 
The market is in a serious down trend, with rotation
into DRUGS , Tobacco , Health care ..( bets on BUSH )
BUT that is already priced in and it will lead to a let
down for anyone going in now.

Rotation never works in a down market, and a few sectors
does not a market make.

Even rate cuts will take time to help , if they help
at all. Spam has been worried about full employment..
hmmm who will buy stocks if they wind up in an
unemployment line ?
Keep your powder dry , and wait for a panic to hit,,
& it's coming too.
I don't own anything now that don't have calls sold
already..and I wouldn't buy a call on any stock in
the market, if you just must play DIS buy her outright
and sell some calls the day you buy her.

This is time to play defense , any one who gets cocky
buying right now is going to have their head served
to em on a platter.

Wait for a blow off down day or two when nothing at all
goes up and the world looks like it's coming to an
end. You want the Naz dropping over 200 pts with the
curbs in on the NYSE and the VIX busting above 35
before you even think of buying.

Jim
PS Dis broke support at 30..while she may get a dead cat
bounce it's risky. Next support is 25, and she could go
as low as 20.
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