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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 676.41

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Dec 18 4:00 PM EST

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To: craig crawford who wrote (67300)	1/19/2001 6:23:02 PM
From: Stephen M. DeMoss	Read Replies (1) of 99985

Craig, I agree with everything you said except going on vacation (although I just came back today from a week in Sunny Florida!). I agree we likely will see a sideways market, unsatisfying to bull or bear, and likely a slight up bias for seasonal reasons in nothing else. However I would argue it is a perfect time to be selling calls. The volatility is giving us nice premiums and since the market is not going anywhere, it is nice income! I sold across the board last month in all my long positions (slightly out of the money). I will be assigned on more than 1/2 my longs this weekend and the other half is right at the strikes I sold. Thus on monday I intend to sell those calls again and on any weakness, buy more long positions and on minor strength mid week, sell additional calls on the rest. The returns are great and you don't need to sweat the daily jirations (day trade them with margin but your core holdings sell calls). Just my opinion, don't totally get out, especially if 'our' scenerio is correct. Steve D.

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