|
PureBytes Links
Trading Reference Links
|
ASND just doesn't want to come back down, does it? While it did get
below 45 (just barely), it got nowhere near my prediction of 40. It
now looks like I'd need the luck of the Irish to buy it back at 47.
Unfortunately, I only inherited the luck of the Polish. :-)
I'm seriously thinking of buying back my shares, and then selling
covered calls at 57 like you suggest. I'm also thinking about just
holding the stock long term and selling puts at the bottom of the
channel, which is something I've never done before.
I really like Ascend for the long term.
Any thoughts?
On Thu, 8 May 97 13:27:35 UT, you wrote:
>Guy,
> It's never too early to claim victory <G>. Looks like you were right on
>the first resistance. ASND closed below my Raff Regression Short Term Up
>Trend Channel (STUTC) yesterday which is my normal sell signal. However, when
>I checked it to close the position this morning it was up 1 3/8 and back
>inside the STUTC. Since Raff Regression channels on limited data aren't as
>good an indication as a longer term Trader Vic type channels that has been
>confirmed a few times, I decided to wait and see. If it drops back out of the
>channel, I'll close the position. If the channel doesn't hold, my next
>support is at 45. If it drops through 45, then 38 1/2 is the bottom of the
>Long Term Up trend Channel. My best guess is that yesterdays break of the
>STUTC was a false break out, and the STUTC will hold. If that happens, I'll
>still be looking to sell covered calls around 57.
>Jim
>
>-----Original Message-----
>From: Guy Gordon
>Sent: Wednesday, May 07, 1997 10:27 PM
>To: MetaStock-List@xxxxxxxxxxxxx
>Subject: Re: ASND
>
>On Tue, 6 May 97 20:27:11 UT, you wrote:
>
>Jim,
>Is it too early for me to claim victory? :-) ASND hit 53.5
>intraday. If anyone sold at better than my target of 53 they were
>damned lucky. =20
>
>Now for the downside target. Would you believe 40? Just a WAG, but
>definitely below 45.
>
>Your comments on options are very instructive. Options are SO much
>more complicated than stocks, and I don't have much experience there.
>
>
>
>
|