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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 (8732)	10/1/1998 10:12:00 PM
From: virgil vancleave	Read Replies (2) \| Respond to of 14162

Sorry I haven't posted in a while. I have been working long hours and will soon be gone for two months. Out to sea on the sub of course. Just thought I would follow up on some of my past picks. catp finally rocked and should continue. I hope you kept your position and made some money. Also, check out tklc and file which I posted a while back. I covered for good as I don't want to be too greedy. Nice profits on both. I still have oct 55 puts on lhsg and chart acting normal technically for a nice downturn. Let me explain. I see a nice top formation followed by a strong break down and then that nice pullback (most stocks do this and the books and experience confirms) which stopped at both the upper bollinger band and 50 day ma. Now the trend is back down and if it breaks low 40's...... there is little to no support all the way to the 20's. As far as valuation is concerned, at 46, it trades at 18 times revenues (i would be afraid and not sleep well if I were long this one) and an astronomical p/e. It has nowhere to go longterm but down and those premiums look pretty nice going both directions. I think we could play this one both as a covered short with a side show out of the money call or as a covered call with a put sideshow. some others that recently made my list that i will post just the symbols. via, pixr (still, made money on it twice now), lhspf, vod, txcc, ccil, noka, ctxs, orngy, cof (again), anf (currently short at 47), aeos, ames, rcot, lvlt, and dis (head and shoulders top, just look, I was short at 35). I am still bearish and the above are for put sideshows or going short/ covered puts. I am long one stock though. symbol is anik, valuation is ok and I have done some covered calls on it also. currently, I am just long the stock. Just a little about market fundamentals before I close. The declines are still leading the advancers in mass. Even the recovery we saw did not signal a buy to me. New lows are clobbering new highs and have had the lead by at least 5 to one even in that rally. It was a short covering rally and we are just getting started in a bear market. Let's hope it doesn't match 1929/30. Even so, our strategies here will survive and make all of us money. I hope this thread is still going strong when I return from patrol (sea). It really is a great thread and herm has some excellent inputs along with links to back it up. Once I get back, I will have time to do the same. sorry for the long post and good luck all. If I have time, I may post once or twice more before leaving.