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: Herm who wrote (8554)	9/13/1998 8:53:00 PM
From: virgil vancleave	Read Replies (1) of 14162

Just my slant at the charting aspect a little longer term. Sorry I haven't had much time lately and will have less and less for the next month and after that I go to sea for 2 1/2 months on my submarine (I am in the navy). tnsi made a high back in march of 1996 at what looks like 27 or 28. Stock should get to around that area and pull back. The pullback may be short term depending on how deep it will go( chart says it could easily reach 20 or 21 and support there is fairly strong with support below that being at 15). It appears that it has formed a nice base and the volume friday is very bullish. If the stock pulls back, it could very well move back up quickly and if it doesn't break into new all-time high ground at that time, that would be bearish and the trend would more than likely reverse. That volume spike on Friday says that we should see a new high at a minimum before some profit taking. Be sure to watch closely as if it breaks the old 1996 high, there is no overhead resistance which technicallly could put it over 30 quickly. just my 2 cents. good luck

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