VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Venkie who wrote (29891)	1/25/2001 5:37:27 PM
From: Jill	Read Replies (2) of 65232

Venkster, I'm poor! I'm poor! Well, whatever.... Yesterday in da room dey said if it breaks 62 it'll go to 57. Charts do inform, though context and psychology drives the direction. If I'd put in a limit for 57 and been patient I'd be happier. I STILL have to learn these lessons! As a sidenote....I'm into this cc thing now while the market is recovering. I had wanted to do a buy-write on cflo at 14 and change....poor stock had been slaughtered...anyway....calls were paying 18%. However I was persuaded out of it probably wrongly..... I did a safer buy-write on PALM, calls paying 10%. We'll see. Although buy-writing protected Scott's portfolio enormously compared to the rest of us, its obviously dangerous in a falling market (well, a falling market is dangerous period)......and would provide limited income in a crazy uptrend....but in a trading range after recovering from a bottom, it's a nice strategy

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