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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?


To: Big Dog who wrote (10821)2/6/1998 9:30:00 AM
From: Lucretius  Read Replies (1) | Respond to of 95453
 
You say it lowers cost basis--- doesn't matter if you get called out.
You don't own stocks to be able to sell calls on them. You might as well sell naked calls in that case.
All I was saying was the guy aking about selling calls is a little late to the party at this point. When the stock looks to trending down or stagnate, but you have a more L-T approach, you sell on rallies. He should have been doing this in Dec and Nov when our stocks were getting wacked. Tod so now, in my eyes is late. These drillers should turn around and head for new highs in 1 to 2 months. The risk to me seems on the upside at this point. Remember the GOM lease sale is in mid March! I'm hearing bullish things already about the sale!

-Lucretius



To: Big Dog who wrote (10821)2/6/1998 9:34:00 AM
From: sand wedge  Read Replies (1) | Respond to of 95453
 
Since the Big Dog (of purported greatness) is now a part of the working economy in H-town, we'd like to organize a meeting of the Houston based SI SD participants. We happen to occasion an establishment which serves adult beverages and is a known meeting place for several well placed oil types (its around the corner from GLM's headquarters). Let me know via email or private message if you might be interested.

Thean, it ain't snowin here so your more then welcome to come down and warm up. Glen, you need to come home and get away from all those left coast wackos. PapayaKing...well.... I wouldnt leave hawaii for houston either .... Teddy...you cant come for several yrs yet



To: Big Dog who wrote (10821)2/6/1998 10:21:00 AM
From: Lazlo Pierce  Respond to of 95453
 
Mike, I do the CC thing with some of my IRA. I just sold a CC on the Aug 40 FGII call for 5 7/8, as my basis is ~ 24 now, I figure getting 46 wouldn't be too shabby in 8 months (96%). I am much more conservative with my IRA account, and wouldn't want to sell something that far out in my trading account, and miss a possible big runup, so holding some more FGII in the IRA, but willing to part with some if I get called out.

Dave