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To: Voltaire who wrote (12183)	4/11/2000 7:03:00 PM
From: abuelita	Read Replies (4) \| Respond to of 35685

Hi Voltaire. Last Christmas I told my sister about JDSU and QCOM and that we held some shares in our rrsp's and that we had done well in quite short time. And I suggested she consult with her broker before considering adding them to her portfolio. She did and subsequently sold all her bonds and mutual funds and airline shares etc. and dove right in. Was happier than a pig in sh-- for the longest time. Except last week and today. Now she can't sleep; said she was going to sell it all because everything she reads is doom and gloom and "just like 1929" and it just keeps going down and its never gonna come back up and she's going to lose her money and on and on. I've been passing onto her what I learn by lurking on various boards (because believe it or not, she doesn't have a computer) but I feel a real weight. I think I managed to calm her fears today but I am so sorry that I spoke to her in the first place. I know that whatever she decides to do, if it ends up being the wrong decision, it'll somehow be my fault. I don't tell her what to do. I just tell her what I'm doing and that she should turn off the TV and get on with life - go for a walk, make love, transplant rose bushes, whatever. Anyway, I can just imagine how you must feel to have so many, many people hanging on to your every word. Just wanted to share this with you and the porch. Kind regards, Rose.

To: Voltaire who wrote (12183)	4/11/2000 8:10:00 PM
From: bozo1	Read Replies (1) \| Respond to of 35685

re: Writing covered calls long term V and et al (et.al. that's lawyer talk for "and all the rest" I think, I'm not a lawyer but I know some good lawyer jokes!) I'm thinking about writing CC on some wonderful stocks I own in an attempt to suck the premium out. this is my question from a long term perspective...don't I increase the risk of spending down all my capital if I am consistently required to buy back smaller amounts of more expensive shares of the stock...obviously this is only an issue if the price of the stock is increasing (not a problem past few days at al). I understand that this is not a problem if the stock is not called out. Additionally, I would adopt this philosophy (not strategy...see I read the Beano family story)as a way to build wealth...I don't need the income (God has blessed far beyond my dreams from an income perspective) but I am concerned about spending down my capital beyond what I would make from writing the calls. I do understand that one might be able to buy the calls back closer to expiration but only if the stock (and thereby, call value) has not increased significantly. What am I missing? Thanks for your help and assistance on this issue. You will never know how much this thread and your willingness to share has meant to my life God bless you all Kerry