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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Murrey Walker who wrote (54222)	8/7/2002 9:38:02 AM
From: Clappy	Read Replies (3) \| Respond to of 65232

20/20 hindsight makes it appear that Beano CC writing is best done in a bull market. Perhaps Bebo should have been writing puts ever since it was clear that the bear was born. -PorquenBeano

To: Murrey Walker who wrote (54222)	8/7/2002 11:42:44 AM
From: marginmike	Read Replies (2) \| Respond to of 65232

You are kiding right? I sold my Qcom in Feb-march 2000 for 130-140 a share. I have been short the market until a few weeks back. I never attended or listened to Voltaire about CC, I wrote a scolding post at the time on the Qcom thread which is what provoked Voltaire to open the porch for business. I baisicly trade options and stocks for a living, and I have many friends who run derivitive desks. Ask any of them a nd they will explain that selling CC on a stock does not protect your downside and thus is not a proper hedge for a highly volitile stock. If you had sold CC on Qcom youd be down like 50% even with CC income(if you timed it perfectly). What I am angry about is a guy like Volts who has lost people(less knowledgable then myself) a boatload of money by calling bottoms. For christ sakes you think selling CC on rambus would have helped you? The fact he has the audacity to make comentary here, and make pronouncements after his absolute obliteration of many is sickening and pathetic. If this market hasnt tought him that his knowledge and expertise are nothing compared to the catastrophe's in a bear then g-d help him or people like you who think he has a clue.