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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: Seldom_Blue who wrote (7030)	4/28/2000 10:54:00 AM
From: Poet	Respond to of 8096

Seldom, That was a really thoughtful and fairminded post. So happy to have you among us. le petite gambler <g>

To: Seldom_Blue who wrote (7030)	4/28/2000 11:44:00 AM
From: edamo	Read Replies (1) \| Respond to of 8096

sb...thanks the kind remarks... some may take my comments as "reality" or just consider them "nasty".....reality at times is not so nice... nothing wrong with "speculation" or "gambling", as long as you identify this amount as that which you are willing to lose. but as in gambling, you must know when to leave the table...best to do so with a bit more then you started with... many have realized what "investor psychology" is truly about, and they have learned their personal levels of risk aversion and tolerance. if you brand these levels into your head, you will be much better going forward....i wiped out all i had accrued in 1973, options that had no secondary market, as no such market existed....arab embargo created havoc.....i still lose, and at times quite large, but on balance i win more then lose....check my posts prior to the carnage...i went from 30 to 70 to 100% cash in a two week period...why? because something didn't feel correct...on the threads alone talk of call buying and put selling on speculative issues, timing of the positions not even considered....hard to get rid of stocks like msft, intc, emc with single digit costs, difficult watching them inch up further after the sale....but in retrospect a move that allowed me to stay even, asset wise with january figures....holding many, many short puts for january...if stocks recover by then, i make 70% on my assets....i'd be happy for one half that amount! watch investor psychology/sentiment...even on these threads..notice a lot of talk of put buying for insurance..consider the timing...easier to buy and profit on insurance on a "just turned sickly, for whatever reason" individual(stock)...not much left when the reaper man appears... closer to the bottom then the top....still trend reversal has not been confirmed....just be patient, opportunity will outlive both you and i....but opportunity doesn't exist, if you can't seize it!!!! good luck...ed a.