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Non-Tech : Bernie Schaeffer's - Option program
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To: JACK MARCEAU who wrote (78)6/2/1997 10:42:00 PM
From: William H Huebl   of 203
 
Hi Jack,

Last question first... I agree - Bernie's picks are confidential for at least a week... at least that is the length of time you have to open a position... after that, the pick turns into a pumpkin I guess.

I haven't checked the hotline yet tonight... I usually do it first thing in the morning. He gives you the maximum entry amount you should pay... you can put in an order at that price and if you get it, okay.

As far as the option strike prices, I haven't had any problems with them. I will let you know tomorrow if I have a problem.

If the I interpret your question the way I read it, then you really do need to read his materials about strike prices and so forth. I believe you need a much greater understanding of options, their risk and how to trade them before I would do what you are trying to do. I know you need to start somewhere, but you really do need to read up on options BEFORE you start trading. Otherwise, you will just end up older, wiser and a whole lot poorer... like many of us out here trying to do the same thing but now understanding WHY we lose the money we do... (NOT KIDDING).

I have just started making money trading options after 20 years and tens of thousands of dollars down the old tube. And the only reason I feel like saying that is I have turned a losing situation into a winner... thanks to everyone else but me.

AGAIN, my advice as a fellow SI poster (I am NOT an investment advisor) is to wait until you understand what you are doing before risking even another penny.

Regards,

Bill
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