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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: Dan Duchardt who wrote (11475)	8/30/1999 10:18:00 AM
From: Herm	Respond to of 14162

It just happens I was discussing IFMX with Bob. Here is what I wrote. Sorry for the delay. I have been without a computer at home after discovering a major virus causing havoc on all the major components and zapping my laptop power supply as well. So, I have been blind for the past few days and worrying about my online banking information and a project on the hard drives for work before I ship the laptop back to Dell. I had to take another laptop out of the box and swap the hard drives to get to this point. At least my bank stuff, projects, and email list will be salvaged. Everything else can be re-installed over time I guess. The weekly chart profile does show a continued narrowing of upper the lower BBs and a sideways trend. The daily chart profile does confirm an upper BB tag and reversal starting. The stock is cycling between a range of $6.50 to $8.00 at this point . Writing a spread against your LEAPs at this point would not be very profitable since you need to exceed the strike price plus what you paid for the LEAP. Say, 12 1/2 strike on the CCs for about 1/2. Would that be worth it to you? The earnings release is in October. September should be a good consolidation month before the take off to the up side. It's ok Bob to have a variety points of view. I sure make mistakes at times and I'm always trying to learn. :-)