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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (30274)	7/26/1998 6:50:00 PM
From: yard_man	Read Replies (1) of 132070

Looking at the charts of the major airlines. Don't know all the components of the XAL, but can see that it would have been wiser to do the index or at least 2 or 3 of these. I would have been in the money even if I had only made a second purchase. I think your IIX puts are going to do well enough that if your favorite nets just sit there, you will still be happy. Your thirds approach really seems to be the way to go, but it is so hard to buy the second or last third sometimes, when you see one or two previous buys under water. That's where I am with LU and it always seems -- just as is the case with LU, the volatilities seem to expand considerably as a stock reaches the final nosebleed territory. Had I done this with DAL I would be in good shape on that one, also. Still learning. Can you tell me how you go about spacing buys. I believe you've said it has to do with percentage rise, given the story has not changed. Do you choose the allowable rise bfore the second and third buys using the volatility of the stock, i.e. for two given stocks one that is more volatile -- you let it rise farther in percentage terms before the next buy?

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