here is a simple formula for choosing stock direction without having to guess: 50MA is going up( higher than the day before): 20 MA is going up and is higher than 50MA. ADX is above ADXR and is up sloping. Stock is making new 52 week highs. You can also replace the adx with OBV, which is really easy to judge. Simple look for it to slope upward. The numbers on the side aren't important, just simply look for it to be moving upward. Each time you write a covered call, make sure you look for stocks with these characteristics.
I certainly won't argue about the short term similarities of a covered call and a naked put, and I don't want this thread to turn into that argument. Instead, I'll ask you this question: By writing a naked put, how can you ensure that you can continually write options each week? I personally get confused trying to think backwards... :\ With a covered call, you will either a) make profit and lose shares (at which point you will lose profit when you rebuy) or b) make profit and keep shares In a) the continual rising price of the stock can inevitably hurt you, but if you look at the maximum loss you will make by trading weeklies, it will pale in comparison to the amount of premiums you collect (unless the stars align and EVERYTHING goes wrong continuously each week). With a put, just by assumption, It would seem like after each week, like you mentioned, you no longer have the chance for your stock to rebound, because you don't own it.