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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Herm who wrote (13645)	3/2/2001 8:47:15 AM
From: virgil vancleave	Read Replies (1) \| Respond to of 14162

Hi again everyone: I hope everyone took my advice and are not long anything. Looks like the carnage is just getting going and there is some pretty significant downside left. The only thing I hope is that this is just a recession and doesn't lead into something more. I am making a killing by being short. I have been doing too many trades to list and unfortunately covered mostof my positions yesterday. Returns for 2001 for me are now at just under 300%. I do have some stocks on my buy watch list, but will not post them yet as this is not yet the time to buy. I see the nas dropping further and could even go down past 1800. The dow could easily drop below 10,000 and in my opinion could drop below 8000 before this is over. There is just still too much "fluff" in this market with many high valuation companies still trading at multiples of revenues. Believe me, we will see them correct and unfortunately will take most other stocks down with them, even the good ones. Some short candidates: I am still short igt, ppdi >56, just covered cah but will short at 102 again, slot >53, sgr >54, frx >70, and a few others. If you are long and doing covered calls, selling deep in the money calls might be the answer in order to protect your portfolio; or you could buy some protective puts. Looks like the blood will be flowing today on wall street. Hope this helps. Good luck.