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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: pbull who wrote (11983)	12/20/2003 7:54:24 AM
From: Sig	Read Replies (1) \| Respond to of 13815

<<This economy is rocking again, fur sure. Any CEO who warns now should be taken to the woodshed. >> Have been smoking for 62 years now except for a few short whiles. Bad stuff. Cant last forever. So dont mind saying how my investments are doing although I dont consider it wise to say it often on the threads as its irrelevant to finding good stocks or handling capital. Today my trading account contains 2400 assorted shares and 76 calls. Buying power this morning is 0.00 , so am margined out as they say. Been using margin for 7 years. Calls are not counted by a broker as equity. They have zero listed value and are not marginable. Sell a call and it will add twice its value to buying power. Sell one for $500, get about 1000 more buying power. Must be making money, as my regular income is at least 500/mo less than our expenses. Being a bull i tend to get too much invested which has hurt me in the past I now control that by removing money from my trading account.Which forces me to sell - the most difficult aspect because if i did not think they were good stocks I would not own them. At this time I am placing a bet on the oil companies- having just bgt 20 calls on XOM, COP, BP, and CVX Maybe my luck will hold, maybe not.Saudi Arabia is being threatened, oil shortages are being discussed, and Lybia will open up someday as an opportunity for our oil companies, and I think the market has some more upside. Does not mean I am a big fan of oil companies or in for the long term as the calls will expire. But if a company does well I would tend to buy more.Sell and roll out to a higher strike. And IMO there have been as many "crooks" in the oil industry an in Canadian mining companies Sig