Helen- nice to read encouraging letters from unknown folowers of this thread, this thread is a no-nonsense thread, if my accounts would have gone haywire I would have thought whatever I write is bull and not worth a dime, I look six-monthly at my bottom line as I trade every thing I write on this thread, and lately I have started looking very closely, I was never below 29% from Jan 1998 and now have surpassed the 51% mark in last few days as I betted hugely on this false break of composite, when everyone was buying puts I placed 50 contracts Nokia at 60 50 contracts Dell at mid 40's and citigroup at 31 hundred contracts all Jan-- when it was loking the darkest I was getting out of my long puts of 950 at 62 $ a straddle purchased for a difference of 14$ I left my 900 naked at 936 I could see the bond breaking which no one else noticed or even spotted, the moment I saw this I plunged big time in the market-- I will now sell 120's MSFT for Jan calls I am long 90 105- I will sell 65 Dells Jan and 90 Nokias if SOX or PSE breaks below 201 or 300-- I will sell covered calls of my long calls bought at dips and lock in my profits on one hand I am short 180 puts on SOX on other 220 longs - I just don't know any other moments than 28thJuly 1996 or 28 Oct 1997 or last Friday dip were not greatest moments to make wealth....
I look at global news, I talk to my brokers for atleast an hour from Europe to US, I talk to pits regularly and first thing is loking at global markets this habit forced on me recently as global markets started having a big bearing on US, I look at cross rates of various currencies to understand the dynmics of trades and last but not the least bonds armed with all this I amke my mental stops which I know by heart like graphs printed in my mind, I have no time to sit and expound on non-sensensical theories if theories would have made money the noble lauretes would have not lost their pants, keep it simple and take advantage of the moment, get into the action and buy Dell at 41, if one cannot do that one is to coward for this market, 16$ in one day or 13$ in case of Nok or 9 $ from lows of 28 in case of Citigroup is some thing if anyone has missed is a crime and those who were projrcting shorts at that levels have once again proven that they are here to confuse they would keep selling ice cream keep confusing the SI with their nonsensical approach, I just watch and see this story of shame written since lasat 28th \Oct-- INTC today after close hopefully will seal their fate the shorts-- but my mother has not born me a fool I have now a very good 970 900 spread just for some major surprise, I am long SOX to get advantage of INTC earnings and short straddle on the market to take advantage if INTC disappoints but I Know from $ we will have it good--- I am long INTC and will go like this in the numbers but to save my profits I will keep my hedge working until Nov end it is any way a low cost hedge-- |
