no, i'm not kidding. he's been saying these vacuous platitudes as if they constitute real useful advice for as long as i've been reading these boards. he may be a gentleman, but he needs to get off his high horse already. here are his last three posts (sorry i don't know how to italicize):
---"one strategy that might work is to nibble at some in-the-money options or near-the-money options. If wrong, your loss is predetermined and limited. If right, the gains may be considerable."---
no kidding. buying options is a viable strategy? if you buy options, your losses are limited and your gains are unlimited? who doesn't know this? this is basically a definition of the characteristics of an option for crying out loud.
---"One way of avoiding short squeezes and suffering "unlimited losses" when shorting is to use buy-stops and be mostly in cash by 4:00. If you do carry a short overnight, try not to carry a big position."---
again, who doesn't know this? a stop loss or closing out your position daily can really prevent you from losing more money? wow, amazing insight.
---"Though it may seem to many traders that this vicious down market is unusual and unprecedented, it really isn't: it's happened many times before. I say this only because I've been around a while and have seen 'em before. If this is a traders first "bear," try to remember it, because it will happen again. And when it does you'll know how to "work" it."---
really, the market actually went down in the past before? i need to "remember" this market so i know how to "work" it the next time? exactly what about it should i remember and how should i "work" it the next time? i suppose since he's been through so many bear markets in the past, he must've made a fortune in this one since he must've known how to "work" it. |
