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Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: Clappy who wrote (29440)	8/18/2000 12:08:26 PM
From: walkman_99	Respond to of 35685

Morning Clappy and to the gang. I appreciate the welcome. I am always anxious to learn, but I admit it wasn't fun watching my initial vehicle (ELON) sink so quick. I guess its better to survive a close call to make you a little cautious when trading options and having some dry powder. I have had a different experience that initially made me a little too confident last Fall. It was around Oct 99 when I decided to take control of some money I had in a managed fund (don't take offense wstera_02). I decided to subsrcibe to G. Gilders piece and I entered the new world of telecosm. It so happens I read about Silicon Investor chat rooms and I quickly found Gorilla & King investing. Fortunately or unfortunately I quickly bought calls on things like JDSU, QCOM, BRCM and some others. My timing couldn't have been better. right? Naturally, the casino wants you to have some initial success at the tables. And so, my bets got bigger. My most difficult challenge to date was buying the Q at around 165.00 a share (which I still hold, but I'm averaging down a bit). (btw: I recently sold some puts around 60 to raise some cash). Meanwhile, I Had worsened my situation by buying '02 leaps in Feb around 150, and rolled them later down around 120. STill smarting. The only point is, I never risked more than about 30% of my holdings. So, even when the market tanked, I had enough in reserve to keep the ship afloat. Looking back, its been a great education and I spent several nickels learning it. Now I am maintaining my core holdings in G&K's like JDSU, NTAP, BRCM, GMST, INTC, CSCO. I still like to use a small portion to begin to write covered calls. So this thread seems to be just the ticket. Regards to you Clappy rzw@sorrytoramble.com