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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: Herm who wrote (8483)	9/7/1998 10:03:00 PM
From: virgil vancleave	Respond to of 14162

Only one comment on the lhsg chart and price action. Current stock price is at the top of a downward trading band which also corresponds to the neckline (50 to 51 actually) of a head and shoulders top. It is hard to tell if we are forming the right shoulder or it formed rather abruptly in july. If the market surges tomorrow, it may be the opportunity we look for as it is optimum to short or buy puts into strength. On the other hand, if the advances lead decliners by 3 to 1, I may change my outlook and start buying a few longs without hedging for a while. It is my opinion that the market strength will once again be selective and weak. The key would be to watch what were the leaders in the lasst advance. That being the banks and internet stocks, (some of which gave sell signals friday) and the market breadth. some new sell signals I have follow. I do not have a position in any except lhsg, which has not given me a cover signal. I am also reentering a position on pixr into any strength (and using the chart which is very much like lhsg). new sell signals: cof, aol, anf, aste, xcit, rpc, itcd,intv,pvtl,lcos, and vrts. As you can tell, I only follow the highest of the high fliers and short on weakness. I currently have a small cash position as well as 2 longs and 2 shorts. I am also not recommending positions in any of the above, but just giving input to new ideas. Another one with a nice chart you may want to look at is lhspf. it has quite a bit of resistance from what i have observed at 41 to 42 range. good luck and I hope these help

To: Herm who wrote (8483)	9/7/1998 10:44:00 PM
From: virgil vancleave	Respond to of 14162

Another one that might interest you. Alo. I was thinking of it on the long side until I looked at a longer term chart. It has been here before, twice. Good short or put buying price would be at 26 or thereabouts. Look at a chart and you will know my reasons. Lots of past overhead supply. Let me know what your opinion is on this one. I have watched many time now when a stock just could not break old resistance and never taken a position. I may have to take one onthis one. Some prior examples include: file, uis, acol, and rbd recently. I know there are some more, but these are the ones which come to mind. Markets are up overseas for the second day in a row. But that doesn't mean they will be here. I think we will see a rally though. Just my opinion. good luck