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Strategies & Market Trends : Tech Stock Options
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To: Michael Hillman who wrote (2767)6/20/1996 3:55:00 PM
From: Tom Trader   of 58727
 
Mr M. & Ms J. what can I say?

Got creamed this month selling puts, so I am biding my time; great market to sell puts once it stabilizes a bit. Maybe tomorrow or Monday but the gutsiness that was so much a part of my make-up just two weeks ago has dissipated. Pascal has almost made a believer of me re "in and out" trading--another month like this and I might even become a convert. It's kind of tough when you are sitting on profits for the month well into five digits, just two weeks ago only to see it vanish and more. The only saving grace, was that it could have been worse if I had not stopped myself out. Just think, naked puts on AMER at 50, LRCX at 40 and others like that which I closed out before any real damage occurred. I've never had two losing months in a row that I can recall so may be July will make up for June. It has to since I told you Michael, how I am planning on splurging on vacation using profits from June trading!!

But the semis are the place to be medium/long term -- an easy 20% return on the rebound, but from what point and on what stocks. Come on "Ms gotta know the stock" give me some winners--you know that I am just a chart nut who revels in cycles and RSI and of course let's not forget about Fibonacci.

Going out to lunch--talk to you later!
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