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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: Herm who wrote (11963)	11/30/1999 10:53:00 PM
From: jaytee	Read Replies (1) \| Respond to of 14162

Herm: Incredible site! You've outdone yourself. Can't wait to have some free time to dig into it. Will check it out tomorrow. Thanks for all of your efforts. Also, is there any news (which I may have missed) re/ your CD coming out? Not the one featuring you and Gloria Estefan . . . but the one where you "sing" the praises of WINS. Jaytee

To: Herm who wrote (11963)	12/1/1999 2:15:00 AM
From: Mike Scott	Read Replies (2) \| Respond to of 14162

Herm (and others), I'm relatively new at this CCing and need some help with my current situation. I purchased 200 shares of PILT at 22 3/16 last week based on a chart that showed upper BB tag and high RSI. I then sold 2 ARR 17.5C for 9 1/8. The stock has droped to 17 and the calls I bought are worth approximately 4 3/4. If I look at the weekly chart, my read is that the stock should keep coming down... siliconinvestor.com If I look at the daily chart my read is that it could rise... siliconinvestor.com Am I reading these charts correctly? My TA skills are weak at best. Should I be buying back my calls at this point? Should I then roll up or down with new calls? I am a little confused about how I treat this. I guess this is the hard way to learn. Again I'm just learning and would appreciate whatever thoughts people out there may have. Thanks in advance, Mike Scott