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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: mc who wrote (8571)	9/15/1998 6:12:00 PM
From: Herm	Respond to of 14162

Hi Gary, The RSI is normally set to 14 day average and the BB depends on the stock itself. Adjust the BB to give you that best "fit" between the upper and lower peaks. In other words, where the price pivot tags the bands. The BB and RSI technicals provide an excellent approx. reversal date within two days. TNSI seems to move pass the upper BB while the RSI is dropping off JUST LIKE IT is doing right now! The real answer to your question to "wait for the train to stop" is difficult if you hold a normal job and are not able to monitor stocks all day. That means some sort of automatic pilot to do the buy and sell. SMOD, TKLC and even TLAB moved higher than I expected and my PUTs decayed a little. I still managed to get a nice profit in ALL OF THEM! That is better for you! Anyone can screw up and still walk away with a profit. Even the fellow who paid $1 for his PUTs yesterday! :-) Our fat bears are starting to feel the drug of the darts and they are slowing down. Drop the RSI and our bears traps start trapping profits. TNSI - TIMBER BY FRIDAY Transaction Network Serv. (NASDAQ: TNSI) Time: 3:54PM Last Trade 26 5/8 Change + 1 5/8 (+6.50%) Bid 25 3/4 Ask 26 1/2 Volume 240,800 Avg.Volume 111,700 Prev.Close 25 00 Open 24 3/8 Day Range 24 3/8 - 26 3/4 52-week range: 14 00 - 26 3/4 Date Close Change Day High Day Low Volume Sep 14 25 +2 +8.70% 25 1/8 23 170,600 Sep 11 23 +2 +9.52% 24 3/8 22 1/4 924,100 Sep 10 21 +1/2 +2.44% 21 3/4 17 5/16 177,000 Sep 09 20 1/2 +1/16 +0.31% 20 1/2 19 5/8 98,000 Sep 08 20 7/16 +2 3/16 +11.99% 21 1/2 18 1/2 113,800 LHS Group (NASDAQ: LHSG) Time: 3:59PM Virgil's fat bear is rolling over nicely! Last Trade 53 3/4 Change - 2 1/4 (-4.02%) Bid 53 1/4 Ask 53 3/4 Volume 141,000 Avg. Volume 355,800 Prev.Close 56 00 Open 55 00 Day Range 53 1/4 - 55 00 52-week range: 19 3/8 - 76 1/2 Date Close Change Day High Day Low Volume Sep 14 56 - 7/16 -0.78% 57 55 1/2 144,200 Sep 11 56 7/16 - 9/16 -0.99% 58 3/4 55 1/16 566,700 Sep 10 57 +1 3/8 +2.47% 57 50 751,100 Sep 09 55 5/8 -4 1/2 -7.48% 57 3/8 55 618,000 Sep 08 60 1/8 +10 3/8 +20.85% 60 11/16 50 3/4 1,105,100 Patterson Energy Inc. (NASDAQ: PTEN) Time: 4:00PM PTEN tagged the upper BB and starting to cycle downward back to the previous bottom. A second test of the lows is not uncommon. Last Trade 7 7/16 Change - 5/16 (-4.03%) Bid 7 3/8 Ask 7 7/16 Volume 737,500 Avg.Volume 601,200 Prev.Close 7 3/4 Open 7 3/4 Day Range 7 1/8 - 7 7/8 52-week range: 4 1/16 - 32 5/8 Date Close Change Day High Day Low Volume Sep 14 7 3/4 + 13/16 +11.71% 8 1/16 7 1/8 1,203,300 Sep 11 6 15/16 + 1/2 +7.77% 7 3/32 6 7/16 758,700 Sep 10 6 7/16 + 3/4 +13.19% 6 1/2 5 1/4 1,412,700 Sep 09 5 11/16 + 1/16 +1.11% 6 5 1/4 618,500 Sep 08 5 5/8 + 3/8 +7.14% 6 1/32 5 783,700