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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: Jon Tara who wrote (10868)	5/21/1999 10:10:00 PM
From: Jon Tara	Respond to of 14162

LOL! Looks like maybe I was right the first time! :) After the bell, HWP announced an additional share buyback. There's apparently been some after-hours trading at 94+. Not a huge move up, but a move up. A move much above 95 would signal a flag breakout. Whether or not that happens, I think, though, is more dependent on the overall tone of the market than anything, as I don't see the share buyback as being such big news as to propel HWP through another leg up without the support of the market. If I was wrong about the short side, I will quicky reverse my position, because if there is a move up from here, I expect it to be steep and swift. THEN I will buy more puts. :)