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Jaime,
I have seen two stories. I believe more that Lefevre is a journalist who never actually invested. Anyway, it's not a big issue here. This book is the number one reference mentioned by many in "Market Wizards: and "New Market Wizards". I highly recommend it for anyone who is seriously about trading.
I have reserved opinion on the equation: Low Volatility=Low Risk=Low Profit. As a matter of fact, low Vol. could be an excellent opportunity to buy straddle, esecially when one is not sure about the direction of the market. Okay, there is time decay work against the purchase. But the volatility will rise one day or another. One can make an aweful amount of money on one side of the straddle. If it's continue range trading, one can lift one leg by taking some risks. It could be dangeous to lift this leg one need to be carefull. I always try to convert to other position. Jaime, did you do any wave study on volatility? try it. it may be easier than try the wave of price. It's very amazing.
As I stated last week, there is a good chance that AAPL will close @25 +-0.125 today. This is my reading from the intention of the market makers. There was an intense selling yesterday morning. AAPL cracked one full point. The purchase was not very aggressive. Today, I am encouraged by the purchase of AAPL. Any real direction on future AAPL will be set next week. I doubt a quick rebound, still concerned by a meltdown, very encouraged by a strong NASDAQ. This is my true feeling. Come back to my quantitative analysis, still a cautious bull. I voted with my money.
Bernie |
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