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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: LindyBill who wrote (2542)	9/28/2001 3:24:00 PM
From: Mathemagician	Read Replies (2) of 5205

I shorted Brocade at 14.45. Placed a cover order at 14.15. Might even fill before todays closing. I think Brocade will be at 11 or lower before this downturn is over. An important question to answer before opening such a position is 'How high are you willing to hold Brocade hoping that it will come back?' Will you cover at 15? 20? 40? Defining a plan and sticking to it is one of the only ways (it is the only way for me) not to let emotions cloud your judgement in the heat of the moment. Remember that your last trade would have closed at your target, had emotion not caused you to close it too soon. Also, if you really believe 11 is the target, why not just let it drop as far as it will go and follow it with stop orders until one gets executed? dM

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