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Strategies & Market Trends : Anyone following Capstead (CMO)?? -- Ignore unavailable to you. Want to Upgrade?

To: Dawgfool who wrote (187)	1/4/1999 6:57:00 PM
From: James F. Hopkins	Respond to of 216

Dawg; Well I must admit I got in a bit early, but I've been milking her ever since, and still have what you could call my core holdings. The IRA rules are all screwed up, if you let them be, I just elect to do a FIFO ( first in first out )..So I bought more when she was below 3, dumped them at 4-3/16..but sold that batch against what I first bought, & that gave me a tax break, also the last time she hit 4-1/2 I sold march 7-1/2 calls, bought them back last week at half price. inch by inch I've averaged down and have some dry powder if she dips below 4 again. If she don't that's OK too, I'm on her like a snapping turtle. I think I see a bounce coming, and will watch the options, if they look good enough I'll make her pay me another dividend. As for my original buy, well sure she is down from there, but I'v been dancing with her, and collecting my dividend by proxy. She has cash well in excess of her stock price, so I don't lose sleep at night on her. At this point I think it would be hard to lose money on her, unless you happen to be fully margined. Jim

To: Dawgfool who wrote (187)	1/5/1999 2:51:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 216

Dawg; I happened to look at the June calls early today, the $5 was going at 1-1/16 , so I grabbed a 1000 shares 4-1/4, and then sold calls on them , that may be crazy, but it's a 41% gain if they get called from me, as it gives me the shares for 3-3/16. ( plus commissions ) Right after I sold my calls someone else sold another 100 contracts CMO don't normally trade many options, something must be up. Any way it looks OK to me, inch by inch I'm beating this rug, now if she hold 4 I'll be OK <G> -------- biz.yahoo.com Give these ambulance chasers a few weeks to stomp on a stock, then go pick up the pieces, before the shorts cover. I like PCMS, but they may take her lower.. ------ If the SEC needs to investigate any one it's these short then bash mills that are running. But until they do just keep an eye on the ones they stomp on, almost always after about 6 weeks they start back up. I didn't consider that when I first bought CMO, and tried to catch the bounce to early, then they started their hype..and I got caught sleeping. But I have dug myself out inch by inch. <G> Jim