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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Uncle Frank who wrote (2226)	8/24/2001 2:33:56 PM
From: Road Walker	Read Replies (1) of 5205

UF, re: Buy-write can be viewed as a bottom fishing technique, with the usual goal of being called at expiry. We both agree that sebl is not at its short term bottom. I think SEBL will trade higher from here. I believe that ultimate support is $19. Do I know if SEBL will trade at $19, no, I don't. In general, should a person making a trade wait for their perceived absolute bottom before acting? I don't think so. You will miss more times than you will hit. I personally think that the bad news is in the stock, after it's 50% decline in ~30 days. I could be wrong, you could be right. If you are as convinced as you seem, then I'm sure you have short calls on your position? Or did you sell to try to buy back at the absolute bottom? John

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