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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Dominick who wrote (9147)10/23/2001 11:26:30 PM
From: James F. Hopkins  Read Replies (2) of 19219
 
Dominick: I forgot to mention that option spreads are
only usable in a regular account.
In my IRA I can do covered calls, and can also buy protective puts but I must own the underling security.
-------------
Some people don't like covered calls and saying they limit
your upside, while that's true to some extent they
offer some downside protection & only limit the upside
to the extent I let them.
After all the Money I get for the CCs helps
my cash position and taht can be put right back to work
in more stock or a mutual fund, or even used to buy puts if things get looking bad.
If I'm real bullish I'll have about half of my holdings
with CCs out but then that cash from the CCs will
go into something else more liquid ( without CCs )sold
on it.
Also with Spreads I try not to get over 20% to 30%
of my money in them. More like 20% , I convert to
Longs with CCs if I get to much in order
to keep my spread risk manageable.

----------------
Your 28 average cost on the QQQs is a lot better
than I've done.
Jim
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