VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Clappy who wrote (31663)	2/22/2001 8:25:37 AM
From: edamo	Read Replies (1) of 65232

cg..."easy money" only used tom's words as he described the extr buy/write.... correct me if i'm wrong...buy extr at 31, for the sake of getting a $5 premium for a march $35 call write, and claim that it could be the easiest $45k made, conveys a message... too me, it is a gamble that should be avoided in down trending issues....but i'm a bit more conservative then most.... agree that averaging can't be all bad at these levels, but why not be prudent and wait until bottoms are set and basing begins.....use extr as an example what cost $31 a share could be bought today for $22 or less.....we are not talking about a small move .....it was obvious at $31 that extr was in a downward spiral....so why buy a diminishing asset...it may bounce, it may sky rocket, but the position wasn't set on fundamentals or technicals.... good luck ed a.

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