To: Clang who wrote (51307 ) 7/19/1999 9:24:00 PM From: Jenna Read Replies (1) | Respond to of 120523
When its time to go short or buy puts, just do it... I had INKT and DCLK on my overbought list but didn't have much time today, but satisfied with OEX puts and YHOO, and EXDS.. They say hold let your winners run, but thats ridiculous if they are net stocks. You will run right into a brick wall. I have had VIGN, I have made money in VIGN and I also knew when to get out of VIGN with a nice profit. It gave 8 points in just a handful of trading sessions. I didn't get all of them but enough. For some reason, whenever there is a stock that is exploding people just think that will last forever. I don't. I take my profit, leave about 3-5 points on the table, but don't get too burnt. I do tend to keep my earnings plays (AFTER THEY REPORT) like ALLR, or LXK for longer intervals. I keep explaining that if you don't take your 10-20% profit you are going to lose it and more. I like my hit 'n run trading style have tried to impart it on our subscribers and its worked, but there ar those that see attached to stocks in an uptrend and think the ride will go forever. I tried to short EXDS once, I covered for a 2 point loss, I did not give up now I'm up over 23 points on my last short, but I probably won't hold it over tomorrow. I have 5 OEX puts that are doing fine also but I don't plan to hold them long either. My YHOO puts are okay so far but expect them to give some more action tomorrow. NTBK one date came from e-mail from the company the other was from first call. Trading is not an easy job, I do most of the 'gritty work' the night before. I am so attuned to my own earnings plays now that I 'can visualize them using memory projection' much like you memorize the key strokes in a tennis serve etc. It takes time but its worth it, but you have to devote some time to study, learning price patterns and when to recognize when a stock is overbought and is ready to retreat. Of course I mean the internets here. I do tend to hold earnings plays as close to earnings or through earnings on rare occasions (SNDK, LXK, ALLR,INTU,VNWK etc)