To: freeus who wrote (211) | 6/12/2002 8:42:21 AM | From: Bill McCabe | | | freeus, yes I went through a pullback like this back in March from 11 down to 8.5. I sold at $9.50 & got back in at $10.50 which cost me @ $120K & moved my 20% capital gain from October to March. With this pullback I started with butterflies in my stomach & the runs, then it went to a stiff neck, & yesterday my brain was vapor locked with the Pre market at $12.15. I should have had a margin call yesterday but they missed it. Thank God we closed at $14.30. I do not use covered calls but may look into for this next run.
Bill McCabe |
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To: freeus who wrote (212) | 6/12/2002 8:49:55 AM | From: Bill McCabe | | | freeus, I still believe we will be at a minimum of $25 by August ( earnings will be out 8/5/02 ). I have to guess this was an ordinary correction based on my readings of what the old timers say.
Bill McCabe |
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To: Bill McCabe who wrote (214) | 6/12/2002 9:47:18 AM | From: freeus | | | Thanks, Bill. Do you do any selling/buybacks to earn some $ or to buy more at lower prices? I'm retiring this week and would like some income from my portfolio to supplement a rather weak pension. Freeus |
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To: freeus who wrote (215) | 6/12/2002 11:19:43 AM | From: Bill McCabe | | | freeus, I am planning on just holding my position. I am margined to the maximum with 80k shares. I can not buy any more at these levels. I will consider selling some in October, March, & June when they are treated as long term gains. The dividends HGMCY will pay should help on your income. The last dividend was a 50% bonus & I think the August dividend will be at least a 100% bonus.
Bill McCabe |
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To: Bill McCabe who wrote (213) | 6/13/2002 12:56:03 AM | From: freeus | | | remargin call Oh my gosh I forgot about you being fully margined.
Your stomache butterflies must be MUCH worse than mine! Let's hope it stabilizes and begins to move back up soon. We may have a stock market bounce for a day or two but I think the trend is clearly down which OUGHT to be up for gold stocks. Freeus |
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To: Bill McCabe who wrote (220) | 6/19/2002 12:49:42 AM | From: freeus | | | I was holding my breath for you when harmony went down in the 12 area again. Is your account ok? No margin calls? We should be starting up again one of these days...although my service says gold will have a low at the end of June (and advised us to buy a few puts on the xau for July). Then I guess start on its next rally. Freeus |
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