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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: GTC Trader who wrote (28)	12/11/1999 3:09:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Happy, I think that the whole drug segment (I have some MRK on which I keep writing covered calls) is still in the dumps and may stay this way until the techs cool off (like February or so), thus the January calls might be risky on PFE, IMHO. If you have a taste for calls, I think that CCRD is ripe for a good 10 bucks plus advance from Friday close (unfortuunately, XIRC already took off). I personally do not play calls (except covered writing), so I am not the one to advise you, maybe Steve can help. Zeev

To: GTC Trader who wrote (28)	12/24/1999 1:30:00 PM
From: Steve Lee	Respond to of 30051

Happy, PFE does have good support at this level. That support is even stronger now than when you first pointed it out a couple of weeks back. Generally, I like to buy calls when I have reason to believe that there will be a substantial move in the next week or so. This could be caused by a recent breakout, very strong momentum, impending news, or very often simply the history of the stock's personality showing that it doesn't sit at support for more than a few days - as is the case with JNPR and was the case with RMBS. I haven't looked at the call prices for Pfizer, but I would guess that the Feb 30's would be more likely to rise than fall over the next 2 weeks.