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Strategies & Market Trends : Options
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To: Seldom_Blue who wrote (5005)3/14/2000 11:57:00 PM
From: cthruu  Read Replies (1) of 8096
 
That is psychology. I had lost money in NSOL during its last drop from 300, so I was afraid and did not buy it back at 60 this time - missed the entire run to over 500 because I was afraid. Same with RMBS and DELL.

I have played entire runs up in YHOO, QCOM, CMGI, etc.as well. Unfortunately I did not ride them down and gave up some profits by holding on too long.

Such mistake make better traders out of us.

Even though Biotechs are volatile, those are the stocks where a nimble player can make lots of profits.

I gave up some in AFFX today but I have no regrets: I have been in IMNX since around 30 - that was 120 two splits ago. I have no reservations about riding Biotechs down.

Remember: The thread is about options - not only calls :-) So we trade calls and puts. AFFX confirmed one of my beliefs that selling puts is dangerous. Worse yet, not buying them back for a HUGE profit is more dangerous.

Regards:

GP
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