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Non-Tech : Bernie Schaeffer's - Option program
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To: Mike Fredericks who wrote (98)6/5/1997 11:49:00 PM
From: Alice M Bryant   of 203
 
Hi,

I am not willing to do all that homework and technicals if I am paying for a subscription. In my opinion that is what I am paying them for. I usually do a lot of research on the company though and read the boards. For instance one time I stayed out of a stock because I read they had litigation pending. All the technicals won't help if bad news hits and it did.

I think a few months ago Bernie was on a roll and I could have made great money but I wanted to observe at first. Lately his picks-the options are very expensive. I like options that are 2 bucks or so.
I do not like paying four or five dollars for options because of the risk. I usually buy at least ten contracts.

I am one to stay out when the market is weak. I do not like puts that much. I know my methods are a little wacky but I only lost once on that damn iomega a few months back. (hasn't everybody lost
on this one at one time or another) Other than that one I do all right. Prodigy has Wall Street Edge and they have options picks.
Some of their picks are the same as Bernie's. For instance they had Telmex calls. I made money on them.

I seem to break all the rules but I do all right, I just bought ten contracts of MTSI Microtouch and it has almost no volume but it usually just takes off with little warning. I got the July 25's
at 1 3/4. If I lose money on them it will be the first time and I have played them too many times to count. There is not much open interest.So you can all watch me sink or swim. I think next week
it may move. It is very unpredictable. The last person you would want to listen to is me. I do not care for Netpicks.

Alice
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