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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Hiram Walker who wrote (721)	11/24/1997 10:44:00 AM
From: ahhaha	Read Replies (2) \| Respond to of 29970

One of the reasons I'm revealing my failure at it is I've quit. Horribly addicted to the gambling drug. Been clean for 2 years. My point was to encourage others not to use options, even in circumstances of conservative buy-write. You can short option - long/short stock hedge the position and realize say 15% +/- 5 per year. To stabilize the return you have to be on the floor obeying the enunciator board, obey the market like a machine getting on the opposite side of the public. You might as well get a job which most likely will pay as well without the stress. Each of the eight times looked like this: I'd start out with a G. Over 12-30 moonths I'd run that up to 100-300 G's. Then in a briefer time I'd loose it all back. At about 4 th or 5th time, I didn't care if I'd lose it back, because I knew I could just run up another pile. You'd think that one would quit eventually when ahead. Doesn't work that way. You have to quit as a looser to stay quit. You can't understand any of this unless you've been there. I speak glibly about running up a pile. It isn't easy. In fact, you can't do it unless you're completely detached from money. The objective can't be to make money to buy things, support yourself, etc. You won't even take 1G to 10. because then the money means something. When it means something, you can't hold. You can't sell for a 30G loss in three days and then turn around and retake the position. You become attached to the spending power and you know if you loose you won't be able to get the goodies. So, I'm talking to those that need some encouragement to quit and to discourage those that are just entering the Way of Grief and Ruin. I certainly am willing to field all arguments purporting to prove that the option game makes any sense. I especially invite those that have extremely technical or sophisticated backgrounds to make their formal claims.