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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (7937)	1/24/1998 7:05:00 AM
From: Chandler H. Everett	Read Replies (1) \| Respond to of 12039

Bob......watching "dinosaurs" for my clients is most of my business, so I am in that arena most of the time. Because I have this "quirk" of never letting myself own a stock for any reason that I wouldn't want to own long term, I have just recently set up a trading program that involves Intel (INTC). I've divided my position into 3's, 2/3 of which I will own long term, 1/3 which I will buy long when TA says to do so, and sell (holding the cash in MM) when TA says get out. During the negative TA phases, I will write the nearest in the money options on EITHER 1/2 of the long term held stock (ie...1/3 of the total), or on the entire 2/3, depending on the momentum of the move. Real money is in play here, so this I hope will be the precursor to my way of making a living (not using JUST INTC, of course) in the future. I am currently "long" the entire position, with a near term target of 80 (resistance there) and then, who knows. We'll see if this is the type of strategy that I can trade for others with as well. Any comments for you or any others would be welcome! BW Chan