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Strategies & Market Trends : The Options Box
QQQ 621.26-0.1%Jan 16 4:00 PM EST
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To: Poet who wrote (8354)12/8/2000 4:21:54 PM
From: fmikehugo  Read Replies (1) of 10876
 
Hi Poet - I tried daytrading and decided I just wasn't willing to make the commitment of time and energy that's required. I'm 64 and retired and there are just too many other things to do. I trade options only for play money, and hold a couple of Gorillas (PALM, QCOM) for really big bucks. (OK, OK *I* think PALM is a Gorilla (G))

So I find a friendly trend, and use options on the QQQ precisely because the underlying QQQ is relatively forgiving.

The hardest part of trading for me has been to wait for a friendly trend (like this one) and to take a reasonable profit. Sold my Dec 69s today for a 70% profit at about 2:30 with the NDX up 132. And I'n not second guessing myself because the NDX closed up 174.9.

Thanks so much for your work as moderator. One or two bad apples *can* spoil the barrel, and when you have to pick one out it can make a real mess (G).
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