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Strategies & Market Trends : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: space cadet who wrote (7746)	12/3/1997 2:53:00 PM
From: JEFF CHAPMAN	Read Replies (1) \| Respond to of 9285

6 figures makes a well off set?? >> started to really scare some of the well off set with 6 figures invested in the market.

To: space cadet who wrote (7746)	12/3/1997 4:58:00 PM
From: Pancho Villa	Read Replies (5) \| Respond to of 9285

Space >>Unfortunately I got into them much too early. No big deal if you're short but deadly if like me you are into puts. Well at least I've learned something. << With all due respect to people who use options activelly, I must say that people at SI seem to use options too much [and also trade too much]. IMO, options are expensive lottery tickets and should be used only in rare ocassions, if at all. The markets are fairly efficient. It is difficult [but IMO not impossible] to beat the market long term when your view proves to be right. Short, term the noise in stock prices works against you. I do not use options. So I am short AOL and YHOO and can afford to wait to cover in the next deep [of course there is a probability I may never see the price at which I bought; but IMO, given the market/individual stocks volatility, this probability is fairly small is you can hold for a while]. However, with options the clock is ticking fast. I have a post somewhere about how many professional successful investors do not use them at all, if I find the link I will post it. Pancho