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

To: Rambi who wrote (11653)	3/14/2001 12:22:44 AM
From: Mike M	Read Replies (1) \| Respond to of 37746

Rambi, not everyone has the right temperament for options. I went through a lot of money a number of years ago before realizing that the odds were severely stacked against me. Don't kid yourself thinking that this is investing. It is gambling pure and simple. If you are fooling around with out of the money March options the likelihood that they will get into the money is minuscule. We will likely have a rally in the AM a pull back and then another rally. Possibly towards the end of the day or Thursday we will back off but I doubt we will see new lows. Unlike velociraptor, I don't think we are heading down right away. The NAZ is oversold and technically due for a bounce. The S&P 500 is also showing an oversold daily stochastic and isn't likely to drop significantly this week, IMO. My guess is that we will have a choppy rally for a month or so. I wouldn't be surprised to see 2650 on the NAZ. Yeah, I could be wrong but so can velociraptor and at least I have an oversold market on my side. If I could get you to do one thing it would be to give up the idea of becoming rich trading naked options... Maybe V can do it successfully, but if so, he is the rare exception rather than the rule. It is very difficult to maintain perspective with options and one is never able to relax. Without perspective we make foolish decisions...i.e. not taking profits when we should, buying and immediately wishing we hadn't, etc... The premiums and spreads in the typical option mean you not only have to be right about direction but also timing. My experienced advice is to find another way to waste time and money. Good luck.