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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Abner Hosmer who wrote (20183)	12/15/2002 5:26:24 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 30712

Well Our timing was close together, even if our style wasn't. I started buying early in OCT..actully I bought fairly fast when the mini panic set in. ------ A trick I learned over the years from looking at my own mistakes, is this. During a panic stock prices fall rather fast BUT the calls don't fall as fast. It seems I'm not the only sucker in time who has dumped stock BUT had to by back my covered calls to do it. It's that buying back of covered calls that keeps them up and new suckers come along as fast as old ones quit. Anyhow while I was buying early in OCT I was taking advantage of the call prices before they dropped and sold CCs at the time. Crap I'm in GLW at 1.10 , they can call at 5, in AMD at 2.78 they can call at 7.5 my worst position is GT at 5.05 they can call at 7.5 but I played her for the dividend. Well that's not really my worst position I got stuck with some SMH bought back in August..and have had to twist & work hard to stay above water with it. Jim