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Microcap & Penny Stocks : Short Term Picks From the 'Whiz' Kid
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To: VMan who wrote (4775)3/11/1999 11:12:00 PM
From: Joe Pirate  Read Replies (1) of 9115
 
Re: Options..

I mostly watch technology stocks including internet stocks
but all my options plays are companies I like. I only do
an option move when something looks really good, otherwise
I just trade the stock.

When the market crashed months and months ago, I was writing naked
PUT options on tech stocks when they came close to a bottom, pretty
much all of them expired.. cool... Then I did some covered CALL
options on some issues, even though profitable it would have been
better not to... dam stocks re-bounded quicker than expected, hee!
Should just bought the CALLS and held... :)

As the market soared, I played with FIRE and wrote naked CALL options
on rising stocks, I miss calculated the peak... :) Got out just in time with a small loss... fun.. <hee>

Now with these tech stocks over-extended, I am watching and waiting
for any signs of bad news so I can buy some PUTS on a few that
interest me.. <crash an burn!!>

Wrote some QOOOC for a buck, and some QOOOW for a buck last week..
Traded QOOOD for a small chuck of change...

I don't like writing or buying long term options.. I seem to do
better when writing PUTS 2 - 3 weeks before expiration.
I like to buying options 20 - 40 days before expiration...

No crazy strategies.... gut feeling most of the time ....

Pirate

P.S. James Cramer --> He said something like you have to be
a fool to write naked options..... <hee>

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