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: CCWriter who wrote (7991)	7/28/1998 7:49:00 PM
From: Herm	Read Replies (4) of 14162

Blaine, I subscribe to William O'Neal's fundamentals known as CANSLIM. That is only part of the picture since the technicals have more to do with the timing of stock price movements. You can take a dog of a stock (if it trades options) and still make money if you employ the right trading tools. You can have the best stock with all the fundamentals going for it and you get in at the top of a cycle you are going eat dust for who knows how long. I have been a believer in "teaching people how to fish" and not just feeding them fish! Everybody wants winners! The stocks mentioned are stock readers on this forum have indicated (via private emails to me) they own and wanted an opinion on what to do to reduce damage and turn a profit by any means. Kinda neat since all of them have turned out just about dead on what the BB and RSI readings had projected. We have a wide range of readers from novice to seasoned experts that like to CC and also like trading options straight as a sideshow. Some of the beginners need a little capital to get things rolling and are totally in the woods about how to begin. So, they try their hand at CALL or PUT options to raise some money. I have been watching IFMX for a few months because of the massive trading volume and mast liquidity in the options. Frankly, they are not turning a profit and still trade like crazy. I may just trade the options with IFMX. NOVL has been I my buy list and is coming around the cycle. ROST was our first CC workhorse that we started with and I still like the stock. Again, I'm not selling any stock, I not in the brokerage business as my day job, and you should always do your own homework rather than take anybody's word for it on the internet! I generally don't invest in stocks that are not making a profit. But, occasionally I do some hit and run kahunas when I predict the entry a 90% no-brainers. I get in/out fast. The only stock I have recently mentioned publically on this forum that I am holding long was BTGC with 700 shares and I like the warrants when BTGC finishes the current pullback. It's real close to that point! One of the problems with message boards is the amount of time it takes to do a good job. We are lucky we have many that contribute to the forum and make good suggestions and comments. The real hidden value and $$$$ payoff is discussed via the private email that is passed along to specific individuals. I truly feel that the individuals approach members that post and try to add value to the forum. They want to associate with other serious investors for the networking and sharing of their experiences, but, don't like to post in the public.

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