Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Big Dog who wrote (14032)	3/7/1998 1:47:00 AM
From: SJS	Read Replies (1) of 95453

DOG, You're comments are right on. MDCO is defying everything (TA, stochastics, BB's...etc) ...as stocks do when there's rumors about them. Being a disciplined trader, I did a buy/write with known objectives and a great return valuation within the context of the buy/write. I might be re-evaluating this write in light of the "wave" in progress. If this this goes to low 30's (as a poster mentioned to me), I might leave a lot on the table from current levels. Here's a new way to look at it. Compare the downside risk, to upside potential. If MDCO were to drop to 17 with no deal (it's a good support level), that's 5 points downside. If it were to run to high 20's or low 30's, that about 8-10 upside. That works for me. So...I can leave the current write in place, take a healthy percentage on existing long shares, and re-establish a new open long position at current levels. Or...buy the current call back at a loss, and stay long with original shares. Not sure yet what I am going to do. Let me know your thinking on the swirl around MDCO. Regards, Steve

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