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To: elpolvo who wrote (8433)	3/21/2000 4:58:00 AM
From: lurqer	Read Replies (1) \| Respond to of 35685

(1) Yes, Happy (belated) Birthday! (2) Thankyou for the wordball and all the other times you've had me ROTF. (3) As an "industrial strength" lurker, one of the most valuable tools one has is your "read" on the various posters. It allows you to assign a weight factor to what's being said. So I want to also thankyou for giving me an early "read" on Clappy. I knew he was bright, creative humor is a sure sign. But without your "heads up", time would have been wasted in learning his talents. Today I picked up a small "starter kit" of RMTR. I know it may plunge if the Naz tanks, but the DD I've done implies a lot of promise in a two yr time frame. So I thank both you and Clappy. (4)Good luck on timing your BEANO strategy. Sometimes it requires patience. "Someone" once told me "Patience will come to he who waits for it." --unknown lurking... lurqer

To: elpolvo who wrote (8433)	3/21/2000 8:57:00 AM
From: Jeffry K. Smith	Respond to of 35685

Sounds like my response to yesterday - nothing! >eom<

To: elpolvo who wrote (8433)	3/22/2000 2:19:00 AM
From: elpolvo	Read Replies (2) \| Respond to of 35685

POLVO BEANO GUINEA PIG --- Chapter-3 here's what i did today (and my flawed? reasoning). 1) first off, i froze more as the market plunged this morning. 2) later in the day as the market and QCOM recovered, i decided to ease in. i sold half of the margined 1300 qcom (700 shares to be exact) at 132. 3) i sold 10 contracts of the qcom CCs on my planned 1000 share core holding for 11 (about an 8% return) 11K. 4) i didn't write any CCs on the 500 ELON (hoping for that to recover a little more first) 5) i put in a sell for the remaining 600 margined QCOM shares in afterhours market at the "last trade" price (it was at 135 1/2)... order did not fill. (i don't care - i'm not in margin danger and hope to get more for those shares before i let go.) <so POLVO BEANO is halfway through executing monday's plan. although he got less for some of the margined shares and got less on the CC premiums than he could have first thing monday morning - more than he could have monday night or tuesday morning - his timing so far was "average" i'd say> i'm watching the market for a move up in ELON to sell 500 CCs and i'm riding the fence on the remaining 600 QCOM. i felt very good with what i did so far. i learned to look up call quotes on the accutrade website, learned to place orders, cancel orders, place extended hours trades. i didn't make any bad mistakes and didn't have to talk to a broker. (although when i got home tonight there was a message on my answering machine to call them for a confirmation - i don't know what that's about - i'll call them tomorrow) overall, i feel about 10 times more experienced and comfortable at doing this than i did yesterday. i have bad comments on accutrade website vs. datek: the acctrade website is not immediate in updating positions and is very slow to report transaction completions and order cancellations. it does not offer free unlimited realtime quotes or streaming quotes. the trade commissions are $29.95 as opposed to $9.99 for datek - there goes my lunch money for the week. <G> the positives: accutrade has people you can talk to that know what they're doing and will actually help you whereas, with datek it's just customer service reps. much like a fast food restaurant with new workers in training. accutrade has more liberal margin requirements (at least for now) on my stocks - QCOM 30% and ELON 50% versus datek's QCOM 50% (concentrated position) and ELON 100% (not marginable) just moving the stock got me way out of margin trouble whereas i was still getting a final day margin notice from datek wanting $5000 the day AFTER my stock was transferred - the sorry bastards! any and all comments and questions are welcomed on POLVO BEANO'S public stumbling into the monthly covered call writing strategy. thanks for any help or advice. -polvie

To: elpolvo who wrote (8433)	3/25/2000 7:38:00 PM
From: elpolvo	Read Replies (5) \| Respond to of 35685

THE WEEKEND POLVO BEANO UPDATE recap: polvo beano jumped into the beano family strategy by selling 10 contracts of qcom april 135 covered calls and 5 contracts of elon april 90. i have 600 margined shares of qcom which i tried to sell in extended hours trading at 135 1/2 just to get out of margin but the order did not fill. i'm glad. i think i'll ride them for a while. i got a PM from a friend today suggesting that qcom might be on the verge of a run up of sorts and that i might want to know how to get out of the CC position gracefully. it made me think over my decisions and my actions for awhile. i answered thusly: i'm not looking for a repair strategy for my CCs. when i sold the 10 april 135 calls and received 11 per share i was, effectively, selling my qcom shares at 146 for a nice, quick little profit. in my mind they're gone, i have 11,000 bucks income from them and i still have the original 135,000 bucks to buy stock and sell CCs next month for may's income. is this a perfect world or what? the fact that qcom may be readying for a major upward move tickles me to death because i still have another 600 shares that are NOT covered (for growth and speculation). still, i very much appreciate the information you sent me. it helped me understand the bull spread repair strategy. (i learn a little more every day.) question: 1) am i all wet or am i a true beano now? is my reasoning correct? thanks, -polvo beano