BAY Ntwks (under House) Message Board

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Technology Stocks : BAY Ntwks (under House)

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To: Doug who wrote (5425)	4/17/1998 6:15:00 PM
From: Bald Eagle	Read Replies (2) of 6980

<<I am sure you will do well if you can shed that buy and hole strategy.>> Did you mean hold? Or are you talking about the hole where my money disappears into some times. Usually, nowadays, I buy stock and sell "out of the money" covered calls. If my shares get called away, that's good, because then I'm being forced to sell at a profit. Albeit, not as much as I "theoretically" could have made. If my shares don't get called, at least it means I have reduced my cost basis and live to sell more calls. This strategy is working very well for me since I started it this year. I'm up about 14% this year so far. Admittedly not a sophisticated method nor astronomical returns, but that will translate to over 50% for the year if I can keep it up. Considering that before I started doing covered calls, I lost money in last year's bull market (*&%^ disk drive makers!), this is a major improvement in my trading results.

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