The following post has generated so many PM to me asking if I can teach them about option and stock:
Message 10344787
Even though I would like to answer each PM individually, unfortunately, due to the volume I received, I won't be able to to that. I apologize for responding those PM's in this post.
a. PAL, that is me, is not an expert in the stock market, or in option. My knowledge is a pre-school level as compared to many experienced and astute investors like Mark Peterson, edamo, Don Martini etc.
b. Since my post illustrate how you can have a six to seven bagger in CMGI, it seems that the method is a sure thing. IT IS NOT. AS A MATTER OF FACT THERE IS A LOT OF RISK INVOLVED . You have constantly be on top of the situation.
c. If you want to learn more, there many books you can go to such as: a) Motley Fool (or you can go to their website) b) Peter Lynch or c) William O'Neil. When you Call Investor's Business Daily for a 2 week free subscription, they will also send you tapes describing CANSLIM method.
d. If you want to learn about option, just try to walk before you run. Maybe option is not for you, but if you want to know the general principle, start with something free: contact Option Industry Council (OIC). That institution gives free option seminar covering basic options, leaps and advance workshop, usually in a big hotels throughout the US. There is no obligation, nobody tries to sell anything, they even give you cookies and refreshment and validates your poarking ticket. So there is no excuse for not attending when OIC holds a seminar in your area.
e. Books on options; The grandaddy is of course McMillan: "Option as a Strategic Investment". This book is updated every so often. There are other books like Thomsett "Getting Started in Options" or Bittman "Options for the Stock Investor".
f. Before 'you start trading option with your hard earn money, do paper trade for 6 months: write it down what you buy and what you sell, keep a good record, and do it as if you really doing with real money. There is a lot of work, but make sure you have a discipline about it.
g. Please do not rely or based your decision on posting by me or other persons on this thread. Even the best still makes a mistake. And as I said before, I am one of the worst since I am still learning. My knowledge is a drop of water to an ocean.
h. After you make money, always remember: Share the wealth, give to the needy, remember your favorite charity. You will harvest what you sow. Planting good seeds will surprise you how happier you will be.
Good Luck to everyone, and hope I answer those who PM me.
Paul |
