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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: JimsJeeps who wrote (8496)	9/8/1998 9:32:00 PM
From: Herm	Respond to of 14162

Howdy JimsJeeps! We need to place your name on the certified Bear Trap Hunter's list. :-) It's getting crowded in that club lately. I heard today on CNBC someone talking about how SMOD sells more to CPQ than any other customer. So, up goes CPQ and SMOD follows. But, rebounds can change gears overnight and September/October is a rapid up/down trading month. CATP - TIMBER! Greenspan recently noted that forward stock earnings growth rates continued to remain on the high side and may need to be revised downward. CATP really halted the sound in the musical chairs earnings game. Now, everyone is making a mad dash for the remaining chairs. I looked at the CATP options and like you said, open interest was low. So, in the absence of CATP PUTs I shorted the stock itself. It is fairly easy to jack up the price 1/8 to 1/4 when trying to short and there are plenty of CATP shares to borrow. Virgil has a keen eye for spotting the big fat bears. We owe him for CATP. That stock will have to jump into damage control soon! I don't recall too many technology stocks that fall below a 200-day moving average that pull out of that overnight! Usually, they are dead money for four to nine months! The end of the year mutual funds house cleaning is fast approaching and that won't help CATP.