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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: im a survivor who wrote (9874)	10/26/2000 9:36:49 AM
From: Jill	Read Replies (1) \| Respond to of 65232

KG, I could be out of my mind but I'd say don't sell. It's such a volatile market and probably will still be. I recall last spring when JDSU plummeted...I held short puts at 100 and 110 for June...I rolled them out to leaps that I still hold...but by June JDSU had "recovered" and I could have closed those short puts out worthless, now I sit and wait, since volatility brought JDSU back down again. They are "profitable" but that profitability waxes and wanes. I do think a good lessson in times like these is to put in sell stops like RR does--I got blindsided because I was away on vacation and not able/willing to watch the market, thot about putting in sell stops on everything but did not--and eerily, on the morning I return my top 3 holdings are whacked. But a good idea at a time like this is go read Market Wizards. It's a great book, and every good trader learned by his mistakes. It's only when a mistake really "hurts" you that you get serious and learn from it. RR puts in his sell stops now because he got burned in the past. Stay calm...learn from it...that's the best to do. The market seems to have changed from a charging bull into a panicy volatile one--more $ can be made on trading now--and that requires learning some stuff. Including t.a. since its a self fulfilling prophecy--I like Theresa Lo's thread and her style. Best Jill