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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 (8623)	9/19/1998 4:11:00 PM
From: Douglas Webb	Read Replies (2) of 14162

Herm, JimJeeps, Caroline: I'm not so sure about your assessment of BTGC... My current position is 150 shares @ $7.633, and 3 Jan 5 Calls @ $2.092. I can't really justify my gut feeling that BTGC is going up... the BB/RSI chart says that a withdrawal is imminent. My Three Line Break Chart says that we're in a strong uptrend, with no reversal in sight... Recent volume has been very high, with unusually high single-day price gains, which haven't immediately followed any news items. BTGC was publicized in Fortune as one of Americas 100 fastest growing companies, a few days before the price jumped. The current quarter ends on the 30th, and the results will probably be released in 4-6 weeks. I don't know... I just have this longer-term, bullish outlook on the stock (which is why I bought Jan 5 calls last month) and I don't think it's going to turnaround at this level... I think something must be pushing the price up now, and BTGC is going to establish a new high soon. I don't see any resistance levels between here and $8-$9, and after that it looks like a clear shot to the low teens... Well, you place your bets where they feel good, I suppose... Doug.

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