How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Rodney Lockhart who wrote (3177)	7/16/1997 5:15:00 PM
From: Herm	of 14162

ROST has been dropping on increased volume. My guess? ROST is going through a minor profit taking correction. If you recall, ROST also has a stock buy-back program in place. The fundamentals have not changed for ROST. It's still undervalued and the profits continue to increase. The MMs are clearing the slate down to the 50-day moving average. It's pretty close now! The down volume today was MASSIVE! So, a trader's bounce off the 50-day moving average is MOST LIKELY NEXT in the next three trading days! Maybee tomorrow or Friday! The closest strike price is what usually happens! Friday would be a nice way to end the week. Price support should come in around $27+ and you should wait until it bounces up and buy at $28 or HEAP of the Aug. 30s. The ROST buy back program WORKED GREAT for the company. They will come back strong. Aug. 30s Calls Just when it seems that EVERYBODY IS jumping ship is when YOU JUMP in with BOTH FEET! There is NOTHING WRONG with ROST PROFITS!

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