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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Bill/WA who wrote (8434)	9/1/1998 8:09:00 AM
From: Herm	Read Replies (1) \| Respond to of 14162

Hi Bill, I don't recall your email, sorry. Yes, I sometimes spend Sundays afternoon (after church) sipping ice teas on the dock of Sailboat Marina. I have anchored boats off Peanut Island with the other boat yuppies watching the surf, boats and tanned young ladies (over 30 that is).:-) Ok, payday for XIRC! Although, I think XIRC has more fat to trim at the current level, the chart does show significant bottom support at $14-$15 like you indicated. Now, it may dip this morning and then rebound some and move sideways at best for the week. Hence, your Sept. 20s will be working against the option time decay remaining. I would cash it out and sit tight. If XIRC starts to break down from current level in a few days, then I would jump back in for the next panic exit. It would be MUCH LARGER than what we have seen. An overall market dump would do the work for us. People are still a bit too positive and this correction needs to cause more pain! XIRC CHART bigcharts.com Here is the range of your XIRC Sept. 20 PUTs. You should be able to grab and get 2 1/2 at the open today! Nice kahuna I would say! XIRC SEPT. 20 PUTs tscn.com XIRC P/E NASDAQ: (XIRC : $15 5/8)$354 million Market Cap at August 31, 1998 Trades at a 32% Premium PE Multiple of 23.0 X, vs. the 17.4 X average multiple at which the Communications Equipment SubIndustry is priced W.I.N.S. BEAR CLUB Alright Bill! You get to place your name in the W.I.N.S. certified Bear Club. This is your license to set bear traps from now on without supervision and to train others in this exclusive club. Only 7% of all investors ever ATTEMPT to profit from the short side of the stock market. Most of the time they are worrying about vanishing dollars. Use your CC premie dollars to hedge and protect!