Glen,
Sorry, I can't help you with AC since I don't
follow it much. It's had a good run, so I
would wait for a pull-back before buying. If
this is going to be your first foray into options,
a few words of advice. First, get a broker who
understands options. (I don't recommend going
to a discount broker until you have a lot of
confidence in what you're doing, although in the
end you should deal exclusively with a discount
house because commissions will kill you other-
wise.) Tell your broker you want a break on
commissions...if he stalls, tell him you know
Greenline's number. Secondly, always put in a
stop-loss order. If you buy something at $2.00,
put in an order to sell it at, say, $1.50, depending
on your risk tolerance and bankroll. My late partner
gave me great advice, one of which was your first
loss is your best loss. Meaning, if you're wrong,
admit it and get out, step back, and take another look.
Don't turn from a trader into an investor, hoping
your position will come back your way. It's just
another way of saying cut your losses and let your
profits run. A lot easier said than done.
Don't know much about US Robotics either, although
they make damn fine modems. People often ask me
about the openings for the next day. In my sixteen
years of pro trading, I can tell you that more often
than not, you will make money by 'fading' the opening.
Whichever ever way it goes in the first 30 minutes,
go the other way. Don't be stubborn about it, but
it works more often than not for me.
Hope this helps.
"Mind the gap."
Porter |
