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To: mtnlady who wrote (132)5/10/2000 1:57:00 PM
From: Jill  Respond to of 10876
 
Stay kewl with cc. Don't panic on days like this. I've tended to buy them back at 50% of what I've sold--except the times I stupidly panicked and bought them back for same I sold 'em. For exmaple some weeks ago I covered my JDSU at 97 and bought them back. Now look at JDSU. I could've made a profit.

Think of Volatire--remember when he sold $250K worth of QCOM April 130's many months ago? Everyoone thought he was nuts. QCOM was making a nice rally before the NAZ turned on us and would've gotten into the 160s by earnings. He never flinched. He pocketed the change of course.



To: mtnlady who wrote (132)5/10/2000 1:59:00 PM
From: Poet  Respond to of 10876
 
mtn lady:

I like to trade cc's, so I buy most of mine back at lows, then re-sell when the stock pops again. Also, If you've you've written cc's on a stock and they're now worth $1 or less, my personal tendency is to buy them back and sell a lower strike. For instance, you could buy back the NTAP June 100's today and write the June 80's or 85's with some decent certainly that you won't have your stock called. And you'll make more money. <G>


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