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

To: Jorj X Mckie who wrote (38640)	5/2/2003 8:38:59 PM
From: shoreco	Read Replies (1) \| Respond to of 57110

"" I'm actually looking to open a futures account in the new future "" Here's some advice, If you chart the SPX like I do, and I know you do, then make it a point to get that account open... No more "Vixtastrophies"... I've traded stock options for many years before I realized they were a suckers game so I gave up equities and played the SPX only... I traded SPX options for over 2 years and found I had to "anticipate" the index moves to get filled on a bid or an ask. I never liked paying the premium spread and I never traded anything with less than 4 weeks premium left (mostly 2 months out)... With doing all these things right, there was always 1 thing that could fick up my trade... You guessed it, a melting "VIX"... While calls seem to be out performing puts (they actually go up a little, while puts just go down right now) it hasn't been like this for over 3 years and if the "War" premium is really getting sucked out of this market the more we trade sideways (which I think we're stuck in this sideways channel), the more both calls and puts will lose value in tandem (no winners in the long run)... This is why I switched over to the es... I like to position trade and I use price targets on the SPX for my trades. Sometimes I hit them fast, sometimes (like now) I have to practice my patience (wait for the blowoffs to add shorts) like today... Was today the top?? I doubt it, but I'm not about to fall for Mr. markets voodoo... EOM Shoreco