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Pastimes : Generation Xers--saving and investing strategy -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (47)	3/23/1998 4:14:00 AM
From: Mike McFarland	Read Replies (1) \| Respond to of 100

This is just accounting for the $1000/week thread: Down to $3930 for the purpose of this game, plus my longs on margin to equal 100k of MINE (cost $7500) plus 2000 GMGC ($7688). I see now that I have over-leveraged myself for the game since I would only be allowed to have 2x3930. So, I will from here forward cut my holdings in half for the purpose of the game, that will squeeze me back inside my limit of 2x3930. Here are the details and some thoughts: A new week, the same old insomnia... Oh well, when that bowl of ice cream has you awake again in the middle of the night why not post on the sleepy $1000/week thread! Last week was good for the longs, terrible for the puts, thank God I only dabble in the options: Dow and Microsoft puts expired worthless: After trading twice in the money with a gain of 100%, the Microsoft puts died a quiet death, loss $600. Unfortunately, even as MSFT twice sagged toward 80 while I held the options, there was never quite enough room to enter stop losses around $2.5 (which would have been a 100% gain). That has been my strategy for options, after breaking even for the past year, now I am back in the hole. Here was the strategy in some detail...bot at 1 1/4....enter stop loss after they double...and hope they run up for a 400% gain, all the way ratcheting up the stop order...on options you hope to get a 400%, anything else will not pay for your losers. I've also seen stats that say don't expect more than 1 out of 5 options to pay... The Dow puts never really had a chance, loss about $650. So total loss for the week $1250. That takes me down from $5180 to $3930 in the game (recall my big winners this year were never in the contest sadly) Haven't cashed out of any of the longs: Holding 100k MINE at cost of .075 and 2000 GMGC which cost 3 27/32. Completely outside of the game I am mainly in cash. Also holding another 50k MINE and 2500 VRGN.