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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: Philip B. Reitano who wrote (4884)9/19/1997 10:06:00 AM
From: jim clabaugh   of 14162
 
phil,

i'm hesitant to sell np when the stock is up against the upper band.
if the charts work, that means a reversal is coming and would cause you to buy high.
i try to sell the put when it bottoms or is uptrending off the bottom.

now ROST is a problem because it is suggesting that last week's high may become next week's bottom band. it is pushing the upper band way up. if that's the case, we may not see 30 again.

but if it returns to its old pattern, you could be put the stock at a high and then will have to start doing repairs. selling the upstrike np and the downstrike cc really cuts your profits way down - usually to $1 which is below the 10%/month i try to set as a minimum.

"you may have questions, but i have questions - no answers, just lots of questions."<G>

trying to tell the future is difficult.

cheers,
jim.
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