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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Shell R. Poust who wrote (11431)	8/26/1999 10:28:00 AM
From: Herm	Read Replies (4) \| Respond to of 14162

Well Shell, It is getting closer to my current IFMX CCs B.E. at $9 1/8s for the Feb. 7.5s. At that point, I would have to decide to cover CCs at a loss and roll up and out or buy long sideshow calls to offset any losses. Again, I don't like to cover at a loss so I would go long on CALLs on this one and score a long term capital gains on IFMX if called out. I still believe based on the weekly IFMX chart that it will stall at $8.00 because the RSI is dropping, OBV is neutral to negative, Stocastics negative, and very low volume. Not what you see in typical gaps. So, an extended sideways is in the cards for IFMX. Also, IFMX tends to do better when the overall NASDAQ goes up like it has for the past few days and down on so-so days. iqc.com