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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 (9548)	2/1/1999 8:53:00 AM
From: virgil vancleave	Read Replies (2) \| Respond to of 14162

Hi again herm. This thread is an excellent source of knowledge and information. Mostly thanks to your and a few others work. As most know, I am usually the one who cries "bear" first when the market starts to appear weak. Well, here I am again. I sold all my long positions last weak and bought back my covered puts since it looks to me like we may see a small correction at this point. The market internals have been looking terrible again and the a/d line and new highs verse new lows seem to be flashing sell. Also, is the fact of the narrow advancing issues to take the averages up. Just my opinion. Something to look at in my opinion. Two sectors that are terribly out of favor that it may be time to start looking to buy are oil drillers and precious metals/mining. I have some I am presently looking at for long term technical anlysis and fundamentals. I will post them in the next few days since there is no hurry for these( they will be longer term play/recoveries) Many of them should make excellent covered call plays. The one stock I did buy last week after I sold was cube. Used to be overvalued, but is now undervalued fundamentally. Technically, it ran into strong overhead resistance at around 30, but has very strong support at 20 which is where I bought. The premiums for the calls are ok. Here are some links to look at. clearstation.com bigcharts.com fundamental data found here. Notice the low debt, low price to sales ratio and cash levels. biz.yahoo.com Hope this helps everyone. good luck