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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: RWS who wrote (10335)4/12/1999 9:00:00 AM
From: Herm  Read Replies (1) of 14162
 
ARTT is not expected to earn a profit this year. So, it is a
speculative investment. The upper BB has been elongated after
the narrow contraction (typical gap warning) of the two bands. The
RSI is high and falling off at this point. The block and ticks below
show the action on Friday. Indeed, the RSI is showing overhead
resistance at $14 with $10 being the first lower price support bottom
at this point.

askresearch.com

ARTT Trading Summary

09-APR-99 Ticks Money Flow($M) Avg. Price
Small Blocks +43 -42 +606.9 -679.4 12.9521
Large Blocks +0 -0 +0.0 +0.0 13.0000
Total: +43 -42 +606.9 -679.4 12.9543

08-APR-99 Ticks Money Flow($MM) Avg. Price
Small Blocks +49 -46 +0.5 -0.5 12.7813
Large Blocks +4 -2 +0.6 -0.3 12.8253
Total: +53 -48 +1.2 -0.8 12.7960

WINs Approach Suggestion: With some ARTT petering out taking
place, locking in some CCs would protect the downside. I would CC
either the 12 1/2s May CALLs @ 2 or the 12 1/2s Aug. CALLs @ 3 1/2.

If ARTT Moves Down I like big premies so I would personally
try the Aug. calls with plans to either hold or cover later when the
price is right! Otherwise, 3 1/2 downside protection would take it to
the bottom support level around $10.00.

If ARTT Moves Ups If ARTT does continue upward and gaps. Use
the CC premies to buy long sideshow calls when ARTT reaches $12 1/2
strike + $3.5 CC premie = $16.00 CC break even (B.E.). Until then,
sit back and count your money!
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