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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 (10241)	4/5/1999 5:05:00 PM
From: Herm	Read Replies (1) of 14162

BTGC GAPs Upward +1 3/8s (+23.16%) today on HEAVY Volume!BTGC Interesting how BTGC made a +23% price spurt today. The RSI shot up from a 42+ RSI reading to a 72 RSI reading meaning that BTGC is now just about in the other extreme overbrought condition close to 80 RSI. Typically, BTGC usually pulls back after such events based on the chart pattern history. The upper BB has been exceeded and it pulled back in the afternoon as the MMs milked the gap. iqc.com If you notice that on Thursdays before the Easter Holidays, BTGC had no large block ticks and only small blocks for a fairly large dollar sum of +$307 million at an average price of $5.99. Today, BTGC opened at $6 1/2 up ticks and most of the large blocks (+6) got in at $7.03 up ticks. The rest of the crowd got sucked in by the MMs at much higher prices and it would not surprise me to see profit taking before the end of this week. It is going to take some exceptional news to move this stock even with the earnings release coming up late this month. Until then, it will be rock and roll and an overhead resistance at $8.00 for sure. BTGC Trading Summary 05-APR-99 Ticks Money Flow($MM) Avg. Price Small Blocks +226 -213 +1.2 -1.3 7.0840 Large Blocks +6 -0 +0.5 +0.0 7.0326 Total: +232 -213 +1.7 -1.3 7.0798 01-APR-99 Ticks Money Flow($M) Avg. Price Small Blocks +51 -49 +307.8 -175.8 5.9926 I have been averaging down with BTGC by picking up more shares. I now hold 800 and may eventually make it an even 1,000 shares.

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