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Pastimes : Richard Ney and the Wall Street Gang -- Ignore unavailable to you. Want to Upgrade?

To: ccryder who wrote (61)	12/17/1997 1:06:00 AM
From: BenYeung	Respond to of 492

Forgive my ignorance of tax or whatever, but what is "against the box"? Does it mean shorting "all the way"? You would cover before Jan 21, so you can put some tax gains into FY 97, right? Why dont you buy some calls to make sure that you can cover at a favorable price? eg. If stock goes back up to 50 while you have a cheap Jan 35 call. Exercise that call and buy that stock to cover. Well, since no one will cold call a poor young guy like me, I dont have to worry about the first rule. :( I also have a correction for No. 5., I say THINK NEY instead of READ NEY. You gotta learn how your stock's MM/S work using Ney's Theory, but then, you use your own judgment on the purchase. Lets go on with the list: 7. Only use PE, PB ratio when other fundamentals and charts look good. 8. Use calls to cover shorts, and use puts to cover longs when the stock is overextended either way. (One of my new strategy, learned from the rollercoaster ride of JBIL. I would suggest buying more options than the underlying stock for extra profit if thing go wrong) eg. buy put at 72 after stock when up for 5 day straight (dangerous sign for a downside). If stock plummets, you cover with puts (breakeven or make some money) and sell the rest of the puts for profit. Works for shorts too, just turn it around. 9. Sell for a little loss if you had to (if the fundamentals are unsure). Hold or double up only if fundamentals are strong. 10. If you know that the stock will dip after some sort of news or runup, sell them. Because you never know how far that dip can go. 11. Use William J. O'Neil's CANSLIM method (BAD A$$!!!) By the way, I found this company called NWCI (New World Coffee and Bagels) which is very competitive with strong management.....I cant put everything here. Go to NWCI thread and research. Buy at 1 - 1.5 dollar is good value. Very volatile, use only non-margined money. 12. Go margin AFTER a correction for maximized results. 13. Learn how to identify the next leader in bull market. Using Ney's Theory, what came down the most goes up the most. JBIL and other ECM, ASND, COMS...will be the best. Dell OK due to some sort of hammering. MSFT wont move much to make money because it did not move much at all since August. 14. Dont screw your friend's wife/girlfriend.

To: ccryder who wrote (61)	12/17/1997 2:40:00 AM
From: BenYeung	Respond to of 492

Couple things that I learned from listening Ney's updates on a regular basis. When I say stock, it refers to "market" too. 1. If the stock sharply goes to the upside/downside in the last hour, the stock will likely to go to the same direction the next day. MM/S's intention is to take the stock to that direction WITHOUT catching too much attention 2. If the stock goes to the upside/downside DURING the midday (few hours before close), MM/S's objective is to give investors enought time to buy (MM/S to sell short) / sell (MM/S to accumulate). Therefore they can take the stock down/up the next day. I still have to figure out how the play the opening. Such technique will be useful to play the general market trend (S&P 500, S&P 100, DJIA...) options.