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

To: Wallace Rivers who wrote (210)	3/30/1999 12:04:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 216

Thanx Wallace; I made a few dollars but very few, CMO was a tough one for me, I bought a bit to soon last June and followed her down adding to my position until I had a lot more of her than I ever intended to get. Twice I sold covered calls and bought them back a bit cheaper, and after fighting with her for almost a year I came out ahead a little , nothing to write home about. ------------------------- It tied up money I would have used to trade the indexes on, and that's just about all I'm going to play in the future. I'm mostly cash right now and waiting for a correction to hit the NDX. ____________ Since the time I bought CMO I've changed my trading style, and now focus on indexes and spiders. I really like the QQQ. The surprises are less dramatic. <G> Subject 26037 Jim PS When things are mixed up like now I also hedge, ---- Long the SPY and Short the MDY. Picking stocks takes away from my keeping up with the dynamics of this Mo Mo market, it's a tough habit to break, but I'm doing it, I have two more positions to liquidate, and after them it's going to be index or sector baskets for me no matter how good a stock looks. I don't have the capital to buy enough diversity any other way. The long Spy short Mdy is almost a layup, then leg in and out of one or the other. quicken.excite.com Jim