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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 153.77-0.5%2:38 PM EST
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To: Wyätt Gwyön who wrote (121030)6/26/2002 10:02:46 PM
From: Andrew N. Cothran  Read Replies (1) of 152472
 
Thanks for a very good and thoughtful response.
I don't confuse dividends with profits from calls. But I use profits from calls in the absence of dividends.

Granted, I would be a lot better off if I had sold ALL of my QCOM when it was above $150. But who had sense enough to do that. What I sold, I sold on a trail down theory, knowing that I would retain at least half of my initial position for whatever reason.

And no, I have not taken down in call premiums what constitutes the difference between what I could have sold the stock for and what it is priced at now. But I have taken down in call premiums quite a bucket full which keeps me from crying at night.

And I am happy to retain half of my initial shares as a 'call' against QCOM'S brilliant future prospects. If I didn't own it, I would want to buy it. And if I was trying to buy it, at what price would a buy be a reasonable buy.

I'm glad that I don't have to sit and worry about the price on a hour-by-hour basis, except as I consider the relationship of the price to the premium I got for my last covered call sale.

Hopefully, I will be able to discern the "when" when QCOM once again starts a long term upward trend. Then, I will want to be clean. I will not want to hinder progress by being burdened with outstanding calls. But when will the "when" occur? My belief is that it is near--if the end of the bear is also near. And most bears don't think that this is so.

Again, thanks for your thoughtful response.
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