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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (6248)	8/11/2000 8:45:05 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 7434

I understand where you are going with this. Yes, the market should provide satisfaction regardless of financial gains/losses at the end of the day. I believe there are two types of market people. Gamblers and "Type A"s. The gamblers are trying to get rich quick, looking for the adrenaline rush and see the market as a big roullette wheel. These unfortunately are the majority IMO at least in terms of number of players but not in funds. The other type which I feel many of the SI oldies are, are the "type A"s. When I was going through the altitude chamber one time, one of the instructors started labeling us by personality traights. It was amazing since he was able to make specific statements that applied to over 90% of us. Things like fast burners, only children or next eldest sibling was at least 5 years older, bored with routines and overly competitive, did well in school, etc etc etc. Turned out that almost all flyers that stick with it are Type A personalities and that is what the Air Force looks for in screening for "special projects". The market is the same for me. It is a constant mental challenge with an infinite number of internal and external influences. The challenge to understand it all and learn from every experience and exposure of a new bit of information keeps it from ever getting boring. When I was away from the market for a couple years, I often told friends that I still missed it due to the way it forced me to constantly be in touch with the news behind the news. ( I feel the normal US news is a dumbed down version and investors/traders tend to dig deeper and find better sources). It also enabled you to dig deep into psychology due to the need to understand investor mood swings and perception. It requires math and accounting skills to read 10Qs and 10Ks. And then of course it requires you to understand government agency workings so you know how the Bond market works, the FOMC, Treasury Dept and foreign policy. Of course I didnt even go into the multitude of chart types that can be studied, Neural networks and other trader tools that need to be studied, selected and mastered. The market provides a life time of learning, challenges and self study. I often say that even if I didn't make money at it, I would probably keep in touch with it just to keep from getting bored. Unfortunatly, I also feel that no matter how long one is in it, they never finish learning to master it and end thier lives just wanting to learn that one more thing they never had time to fully understand. Good Luck and take it easy for a while. If you are in the eastern part of Show Me, Barnes is probably the best place to have your situation remedied. ( Of course I have been away for a few years so maybe things have changed. ) Maybe you can envision the golf ball is a stone and get even with it on each drive. Lee

To: Patrick Slevin who wrote (6248)	8/11/2000 11:13:46 AM
From: Gersh Avery	Read Replies (1) \| Respond to of 7434

Just had a thought .. (ouch) figured I'd pass it along just for what the heck .. Anyway .. there is supposed to be a very large OI on the September contract right now .. As September expiration draws closer, there would tend to be a roll over into the December .. The net of that roll over would be to drive the price of the September up while at the same time drive the price of the December down. It seems logical to me that as the sp00 was being traded, that this could be taken advantage of by every time that a contract is sold make it the December and every time that a contract is bought make it the September .. example: short at 10 and cover at 11 .. short the December at the 10AM mark and then use the September at 11AM to cover .. in the end, there would be a posisition set in place to take advantage of roll over time .. prolly thinkin' to hard again ..