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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: virgil vancleave who wrote (9549)	2/1/1999 10:40:00 AM
From: VincentTH	Read Replies (1) \| Respond to of 14162

Virgil, Good call. As a lurker on SI's Drilling board, here are my Oil Service favorites and why: 1. FLC. This is a leverage play, lots of risks, lots of potential. They may not survive the downturn however, but George Sorros made an investment in this company, and so did I. Strong support at 7. 2. RIG. Have a backlog of long term contracts in deep water drilling. The risk of contract cancellation is lowest with deep water drilling. Strong support at 25. 3. FGI. Have a long backlog of contracts for deep water services. Strong support at 10. Drawback: This is a small cap. 4. SLB. The bellwether of them all. Enough said. //V

To: virgil vancleave who wrote (9549)	2/1/1999 5:00:00 PM
From: Herm	Respond to of 14162

Like yourself, I have been watching that VIX and wondering when the next pull back is coming. BTGC - Upper BB tag and dropping RSI With such a large increase in volume on Friday, BTGC dried up fast today! It just goes to show you how a few heavy buy blocks can set a stock on fire. Average BTGC volume is now around 600,000 plus and only 360,000+- traded today. Once again, the technical chart was correct in pointing out the overbuying condition. Looks like BTGC is cycling down to $6.50 again! That's fine! I now have the money in position to pick up a few more hundred shares. This stock is still undervalued big time! iqc.com IFMX - Still Heading Towards Lower BB - RSI still dropping! IFMX had a fantastic run up over the past month of January to $13.00+. And now? Well, the first price support is around $10.00 and that should be tested this week for sure. Should be a nice buying opportunity. If it does not hold, TIMBER and hello $6.00 for IFMX. Don't know how the ORCL split announcement is impacting IFMX. iqc.com MER - Down 2 1/8 on Div. Day! Stocks usually get a boost before div. payouts and then drop after the payment. This is referred to as dividend stripping. MER sure did nailed that upper BB with a tag and is now dropping off. The RSI is below 50 as of today! So, MER is cycling downwards towards $70. iqc.com I keep looking at BB for MER and how narrow they are! That usually signals a pending gap in price. Well, it may gap downward unless something big is announced. Who cares? You can make money if it goes up or down! The LEAPs PUTs may become work horses. FLC - Oils Look SOOOOOO Cheap! - New Double-Bottom? From a technical perspective the oils are starting to get my attention. Even with FLC fluctuating between $6.00 and $7.00 that's a 16+% span. Add some CCs in that mix and you get over 20% hits in one or two months! iqc.com