To all:
I had the day off today. after getting up early and putting on a pot of cofee, I tuned in CNBC where we were confronted with gloom and doom, with the S & P futures limit down. after being told that we would open at least 100--and maybe more--down on the dow, I recalled somthing I read in some book years ago. one of this book's characters said that the best piece of advice he ever heard was that if one is in danger, then, if at all possible, sleep.
that sounded good to me, so, after placing an order for some puts to partially hedge one stock I have (not APM) that has been very strong lately, I went back to bed to test this theory.
I never woke up until after the market closed. when I did I found that the only money I had lost all day was on my puts! it was a very good day.
now, I am not trying to say that this somnolescent strategy will always prevail, but when it doesn't I at least intend to be well-rested and broke.
best regards. |
