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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Herm who wrote (8386)	8/28/1998 1:03:00 AM
From: virgil vancleave	Read Replies (2) of 14162

Hi again herm. The selling is not over in my opinion. Just getting started and finally getting noticed on the street and in the news. I have shorted tklc twice now. Shorted at 24.5 and decided to cover at 22 3/4 (two days) vice selling puts. I then shorted it again a few days ago at 24 3/4 and still have that position. I have not had time to post much lately since my wife is sick and I have been working longer hours. Thus, what little free time i have had, I have been looking at the charts and trading. I now have puts on lhsg (I tried a few times to short in the 50's but could not borrow any shares. ) Same thing with pixr. both have given sell signals and are already in a downtrend which looks to continue. In fact, there is not much support below the current price on either and they are funda,mentally way overvalued. pixr trades at like 50 or 60 times revenues. I hope people took the advice on xirc. I did not short it but wish I had. The old high did get beaten, but there were obviously many who were glad to get out even after all that time. And yes, I am a bear now. But I still have two longs and may add to one. That one is anik, which finished UP today on good volume. The call premiums are ok also ( I already did one covered call trade for a nice profit) some charts of interest. DIS nice head and shoulders top with neckline at 35 (yes, I am short) target using some book knowledge is 25, but could go lower. These patterns have a funny way of fulfilling themselves, especially when the underlying equity is overvalued anyway. Now I wish I had not covered my sctr. Just broke through it's 200 day average. Next support for it is 15. Another head and shoulder chart I saw, but did not take a position was cmgi. FEAR took over since my last internut trade on lcos was a loser for me. Look at it now. Neckline was in the 70's. Bummer. Keep up the good advice. I will keep posting some tech analysis picks as well as some i like fundamentally unless someone objects. For any other technicians, the trendlines on all the averages have now been tested AND broken decisively. I reccommend short selling and doing covered puts for safety on the downside. Many of these broken stocks will never recover. once again, just my opinion. Good luck.

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