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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 (8446)9/1/1998 10:54:00 PM
From: virgil vancleave  Read Replies (1) of 14162
 
Pixr looking good for nice bear trap. Stock has sold off alot and did not recover much today. I own some puts now and was going to take profits until I noticed the weakness this afternoon. Chart looks bad and kind of appears like a head and shoulders top.

I don't think today was a buying opportunity. Historically speaking, recovery was not that good and market internals not very strong. I am thus still bearish. Add to that it is earnings warnings season where stocks tend to get decimated in short time.

One that I am looking at is cof. It got whacked hard yesterday.

Also, it looks very much like retail has seen a top. Check out aeos, bby, tom, bke, ames, and dmmc.

Hope this gives you some more profitable ideas.
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