Marty,
I agree with everything you've said, and I made the same initial mistakes in implementing Cook's covered call strategies...
However, since doing the due diligence I've found it extremely successful... Because I initially started out with limited capital as well, I was doing only one stock at a time...and of course lower price shares so you could buy more 100 share lots... I've since worked up to a portfolio of medium priced shares with 500 - 600 share qty's...which generate a decent monthly return. Now, I'm finding that even if one stock drops substantially, it doesn't really affect my monthly percentages..
I very very highly recommend the following site as a screening tool since it allows you to set your own parameters... ie...earnings per share/ growth rates, price, volume, percentages etc... you can weed out the majority of bad ones and then follow the research links on the site or at yahoo to do more winnowing...
the site is poweropt.com If I had to get rid of every resource except one to implement covered call strategies, this is the one I would keep...
At some point, I might try some of Fishback's strategies...however, after attending the seminar, I've decided to stick with a fairly well developed plan that seems to be working quite well... I think Cook deserves some healthy criticism for his sales tactics and pie in the sky musings...but I owe him for the covered call strategy...
Good luck
Lynndal |
