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Technology Stocks : America On-Line: will it survive ...?
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To: yard_man who wrote (3236)5/27/1997 10:47:00 AM
From: James F. Hopkins   of 13594
 
HI Barry: It is often better to miss the party than to hop on to soon,
the worst thing on options is chasing them on momentum. There is some
luck to it all and I'd just as soon be lucky than good. I now set prices on my bid that I doubt I will get..( if it comes to me like
that I'v incresed my margin of LUCK )..on the short term I also set
sell prices just in case I'm not looking, the long term I don't put on
the table..as my outlook for them is that the big fall will hit
( when it does ) after the bell, or before the open..and I don't want
to give away the long term puts to cheap, or have them bought up
before I can twek them..but heck I may redo that idea to..her first
big fall will likely test last Nov lows..guess I could prorate that
into them and let em sit. I'v made more money on luck than smarts,
so I'v looked at how I might out smart myself, I see it it looks good
so I say well if it gets even better than I think it will, then
I'll get it..ah but I may not be looking if and when that happens,
so just in case it does I'l bid so and so..that builds in or alows
a margin of error in my best guess.."some times" it gives me time to
kill or tweek an order too, if I see even faster moves I want her at
54..dont look like I'm going to get it on this turn..but I won't
chase her.
Jim
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