Investing in Macy's (M)?
I have recently invested (U.S Market) few thousand dollars on Macy’s using the covered call strategy:
I bought the stocks at 30.80, was renting INT at 30 Strike at 1.75, but now have decided to roll up to the Feb12 35 Call at .19, which is OTM. Overall it only cost 2.25 to evict the tenant.
I am not as experienced as many others, so my confidence does waver. Regardless of my own research on the stock, which seems to be going strong i.e. going by basic and technical analysis,, my analytical skills are still very much in development. I am yet to learn many of the finer points of spotting a good investment and in determining the direction a particular investment stock is heading.
So, I would kindly request any more experienced investors here to share their opinion on where this stock is headed, how you would come to that conclusion and further offer any knowledge which might be of assistance in my learning process. Pointers, good advice, tricks of he trade and so on.
I’m very excited, having discovered this passions for stocks.
Kindest Regards – Dave
@dm_dragons That’s some valuable information there, thank you. There’s a lot to learn here. I’m not really asking for brokerage advice. but rather, I’m asking for ‘general’ advice, which may help me to determine the future position of any stock. I don’t mean heads and and shoulders, top/bottom reversals and all that, I mean less obvious things which may not be common knowledge.
