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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: Teflon who wrote (4478)	3/9/2000 11:14:00 AM
From: Wyätt Gwyön	Respond to of 8096

The G&K thread has long emphasized concentrated positions in contrast to the "basket" approach that Geoff Moore recommends. That is fine and dandy as long as the stock goes up. But a sideways or downtrending stock can test one's mettle. When it comes down to it, there hasn't been a lot of fundamental negatives for QCOM since the price was at 200. But market perception has changed and it is no longer the stock du jour. When the stock goes up, people convince themselves that they hold it for "fundamental reasons". But if it goes down for just a market perception reason, and then the person sells, then the person has been living in the delusion of being a fundamental investor, when in fact the person is just a momo investor who got lucky (and then unlucky). Mucho@in.for.the.long.haul

To: Teflon who wrote (4478)	3/9/2000 11:16:00 AM
From: Paul Merriwether	Read Replies (2) \| Respond to of 8096

<< my review of the situation is starting to lean me towards a breakout in the stock >> Tef I am thinking of adding on QCOM. Specifically, thinking of selling 40 AAFOE(MAR 125 puts(watch me rehabilitate myself Jill)). AAFOD(MAR 120) do not have bad premiums either, esp. considering that there's only 6 days to expiration. Thoughts? -PWM btw: I will hold off on selling GMST common for now. I am taking my TVGIA(short term shares) off the table. Set limit of 1K @ 57, 1K @ 59 and will write up to 50 calls as soon as these turkeys allow me to trade MAR 55 calls.

To: Teflon who wrote (4478)	3/9/2000 11:17:00 AM
From: Poet	Read Replies (1) \| Respond to of 8096

Yeah, Tef, Jill and I have been noticing the change over there as well. Six months ago it was practically sacriledge to discuss areas of support and resistance, much less options trading on gorillas. Now Frank's daytrading options and LB's out of QCOM because he sees momo elsewhere. I'm quite content to write cc's on half my position in QCOM whenever it's near the top of the trading range, then buy back when it nears the bottom of the range. I find I can do this twice a month easily and pocket $10 to 15 k each time I do. I like the idea of earning incomeon QCOM while its quiet, just waiting for it to start moving again in the future.