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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: space cadet who wrote (15294)	11/10/1998 11:48:00 PM
From: Greg Jung	Respond to of 18691

No I've never done it, and it would still be hard on an internet unless you're ready to hang it out there long at amzn=140 looking for a break on the spread. Gives me the shivers. I was well in the money on 3com in 1996 just from writing calls at 50 strike, and did some rollouts with that. Of course it ended badly in Feb/March '97 when I had covered 1/2 of the short calls and looking to write more near 80, instead it tanked to 40. Generally there's a lot of premium so rolling out is easy enough when the price is a bit stable. With internuts there's no such stability but if I were going to try and call a top that's how I'd try it, 100 shares only. I'd have to do a few dry runs before even doing that much. Now I'm just hibernating in (dull) stocks hopefully staying above their 50dma on the way to the 200 dma. Besides a few shorts I'm saving for armageddon. Greg