Hi Nostrdamus: Thanks for your well wishes, & roger on the dry powder,
Never got into it before, but before this e-trading got going I
use to make a race track, so I'm not new to waggering..but each
form of gambling has it's own style, and I'm slowly but surly
getting the hang of this. I might sound like a bragert if I tell
you I was a regular winner at the track. Believe me it was not
easy..nor was it big money, but it was a great way to spend some
time away from the grind. I dreamed of making a living at the
track, and by the time I learned enough to do so I knew then
that it wouldn't pay me enough to make it worth my while.
(1) You have to move close by, eat, think an sleep with all the
data, and work the odds, and bet on the races you wound not think
there would be any way you could get odds. You have to pass up
far more races than you bet on too. The sure things are the worst.
(2) There is no system..not at the race track nor with stocks,
the min you buy into a system you set yourself up. A system always
fools you sooner or later. You just have to see the things the
majority of crowd misses, or over looks. One month you have a
certain type person coming to the track, next month a new bunch
even the days of the week can make a dif. With what we are doing
with puts/calls here and now is no more or less than Paramutual
betting, and if you look beyond the bid/ask..at the hidden
MM spread..you will see that you have considerble odds to
overcome to make anything like regular profits..even modest ones.
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Keep in mind the call/put has a supply/demand side that is not always reflected the same in respect to stock price changes,
The Bookie..has odds on his side.."always". This Stock market
is more of gambling house than a investors tool. The Racketeers
that run it make the Mafia look like choir boys. <G>
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With all that said, let me add I never short a stock, and would
not do so under any conditions except I had calls to cover my rear,
or was shorting aginst the box. What little I bet on calls/puts
keeps me busy and lets me escape from other chores I probable ought
to be doing. My long positions are very conservative..and I'm not risking the barn on any of this stuff. If I want to risk some big money, I'll go in bussiness , and buy a tug or oil field supply boat..that I really understand, troble with it is if you own the
boat it owns you. Been there and done that.
Jim |
