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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?!
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To: LWolf who wrote (277)1/19/1999 9:09:00 PM
From: John Koligman  Read Replies (1) of 611
 
Well good luck to you Laura. I have seen you posting on the Dell thread for some time now. As long as you maintain a healthy respect for the market you will be okay. I do think it has been almost too easy to make big money in the market lately. I remember the first stock I ever bought back in the 1970's, it was a company called Babcock and Wilcox. Shortly after I bought, the company was the target of a takeover and I pretty close to doubled my money! I thought wow, what an easy way to make money. Then, being 'super smart', I started buying large (for me) naked option positions, mostly calls. Lost the equivalent of a decent house back then, and almost got wiped out. A very good lesson indeed. It's funny, because IBM stock was the clincher for leaving a 'regular job'. I never bought the stock thru the employee stock ownership plan, but when it really tanked in the early 90's, (as low as 20 1/4 pre split), I loaded up. Turned out pretty well.

Regards,
John
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