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Strategies & Market Trends : You buy a stock. It goes down, now what?
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To: Bald Eagle who wrote ()7/7/1998 1:12:00 PM
From: BWAC  Read Replies (2) of 112
 
How about an "Other Stategy" I used with LSI when it fell from above 30 last October. I am now back to even on my initial position at 33. First off I am assuming that all of us here are very reluctant to sell at a loss when the company is good. And that we have a severe lack of patience to just sit and wait until the tide turns.

1. Sell the stock. Replace it with calls at a strike near the new much lower price.
2. As the price stabilizes and comfort returns, start trading the stock on its daily swings.

Problem is I always seem to be in this position. I got stuck with LSI, CYat 10, WDC at 24, CS at 15.
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