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Strategies & Market Trends : Help me become a millionaire

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Nov 19 4:00 PM EST

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To: Sarmad Y. Hermiz who wrote (292)	11/26/2001 7:48:15 PM
From: victor pan	Read Replies (3) of 583

Sarmad, Did you get a good entry today on I2? It could have been a 40 cents gain already! How did you guess the $6 support! Not a penny more, not a penny less! What difference do you see between the current market condition compared to your prior two successes, if any? >the water is now safe again for speculation on the long side And what are the similarities? >need to figure out how to hold on to gains I have a plan for that. I would buy stocks of big names, e.g., INTC, and sell covered calls against it every month. This is equivalent to bringing down the costs (per share). Say if you get 1000 INTC for $50 a share, and sell 10 calls each month. If it's $2 per contract, you take $2 off the $50 each month. This way even if the share price is going down, you don't lose much money. The numbers are hypothetical, maybe the volatility goes down when the market keeps tanking. Just an idea. Maybe I'll try it when I have enough money.

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