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Microcap & Penny Stocks : Ames Department Stores (AMES) -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (1771)	11/1/2000 10:58:48 PM
From: Dan Duchardt	Read Replies (1) \| Respond to of 1911

Better activity today Nice to see the action picking up on AMES today. 856 trades totaling 609,800 shares. Top 10 trades only accounted for 80,000. Up almost 17%, and no easy pickings to cover the shorts. I sold 20% of my position, which I had pushed a bit larger than I really wanted to lower my average cost. Will be very happy for the rest to cross into profitable territory if this move gathers steam. I looked at selling some calls, but near term were still too cheap, and longer term is too limiting if the fall rally sets in. Selling the 20% looked like a better play raising more cash than selling calls and leaving a lot more upside potential. Dan

To: Dan Duchardt who wrote (1771)	11/3/2000 12:33:35 PM
From: Yogizuna	Respond to of 1911

Hi Dan, The shares are trying to break above the 27DMA today, which sometimes acts as an area of resistance or support..... Yes, it's often a good idea just to keep selling the calls to get some money back while waiting around rather than to take an immediate loss. I have a small position in PBY that I have lost faith in, so that is what I'm doing with that stock. The trouble with these types of "dead money" stocks is now we have to hope they will stay close to 5 dollars per share, or they will eventually phase out the options available for us to write. (I hate when that happens) Have a good weekend! Yogi