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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Chris McConnel who wrote (15192)	3/20/1998 3:00:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Well If I'd moved early this morn I could'v got $4 for them.. which would have given me a 39 target, considering my cost basis that would not be so bad..as I just totaled it and with commisions it comes to 25.73..but that 4 is now 3-1/2 maybe I should any way but hoping on a bounce. To go from 25.73 to 39 may not seem like a lot of profit , but it's good enough..and reduces my down side to were I could consider my self in at 21.75..if she don't climb to 35. or even if she does. As to the limiting of potentail, thats a two sided coin..the faster she gets there the better, and if things look rosy at that point there is nothing to stop me from buying back something that gets called but a $12 commission, or if the call vomes to the money I can buy it back if I want..sure the to moneny call "might" cost me more than I get now..but several things offset that. The time value will be less..and the relitive premium on money call is less than an out of the money one. The limiting factor is not that much, if you want to stay on board only the cost differace between what u got for it and redeming it, which may not be a cost at all..as if time eats up the premium she could hit 35 and me get my call back at the same price or cheaper than I sold it, depending on the time frame, an at the money call will only have about $4 premium in it as far out as 6 to 8 months with this stock unless shes on a real up trend at the time. Meanwhile I had some down side risk insurance. That's sort of acidemic now..as it looks like I won't get my target on selling the call today, Looks like I'l just have to ride it out, been here done that, it aint fun but it's better than taking a hit. Might start looking at selling puts instead. Jim