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Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: Brian Sullivan who wrote (2491)	9/24/2001 9:04:50 PM
From: Mathemagician	Read Replies (2) \| Respond to of 5205

The market indicators say that this market is extremely over sold right now... If I had a nickel for every time I saw that phrase over the last 18 months... Then again, all I had to do was bet against it and I would. :) I suggest that we refrain from criticizing Lindy's individual market calls (and stick to criticizing his overall strategy <g>) since it is not constructive. Inevitably, we will either agree or disagree for whatever reason with each day's position and the discussion here will degenerate into a market timing debate. I leave it to FaultLine to determine whether it is even appropriate for Lindy to post his trades here. I for one am very interested in continuing the discussion, though I do think it may be a bit outside the scope of this thread (anybody remember covered calls?). Perhaps it would be more appropriate to create a "Legend of the Sleeping Day-Trader" or "Sleepless in Hawaii" thread for that purpose. Ken? Lindy? M

To: Brian Sullivan who wrote (2491)	9/24/2001 9:30:30 PM
From: LindyBill	Respond to of 5205

Brian, IMO, this market will go lower. By selling short, and looking for only about a four bit return, I think I am well within the volatility of QQQ. I am in at 29.15, which is not the low, and trying to sell at 28.65, which is not a low. All things are possible in this market, and you may be right that we could get a 10% to 15% rally that lasted. I don't think so, and I am willing to make the short term bet that it is not going to happen. The way things are, I would rather be short than long right now. However, I do respect your opinion and am glad you posted it. BTW, as far a sleeping while the market is open, I would rather do that, with a cover order in, than set there and stare at the screen for no reason. I am not trying to "clip nickels", but 50 cent pieces. AlanS, I think you missed what I am doing. This thread is for Option Dummies, and you thought I was trading naked options. I am not that crazy! I am a short term trader dummy, posting here for lack of a better place, and because I respect the people here.