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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (14995)	3/14/1998 9:57:00 AM
From: James F. Hopkins	Respond to of 94695

Hi Mike; I've never played options on the indexes at all, so I don't know much about them, I did buy and sell SPY some but that was not much profit and the couple of times I shorted her was real shaky..I lost on one and gained it back going long..the other one I just flat out got lucky , and closed it with a small profit as I had to go to the doctor the next day and didn't want to leave it shorted if I couldn't watch it, but I was sure tempted to, as it turned out I would have gotten hit kinda bad. Still I thought I could do better hopping in and out of her and just catching the up days and missing the down days, and worked my butt off. Well that was not worth anything but finding out that getting out and back in caused me to miss more of the upside than I gained..my first buy was at 92..and I can tell you had I just let it ride I would have done better than I did skiping in and out, but there was the fact that I was out a lot and "if" a big sell off had have hit I would have missed it, and so I was at less risk. The SPY tracks the S&P 500 at 1/10th the cost. I'm looking at the DIA which tracks the DOW30..and I think I can do it better as I can track every stock in the Dow..volume wise and all and get better signals. I haven't started trading it yet as I'm still improving on the indicators. I can see were they won't work over 50% of the time, but that's the trick, they mostly tell you when they can't tell, so you can avoid those bets. It seems to have a lot of promise but I've seen that before too with other systems that didn't live up to expectations. I need to back test them some more, and getting the back data into work sheets and linking to them is no small job. Working with what I got since I just started the new formulars is not enough evidence to stand on. If I do get it were it works good I'll likely upload and post it within my home page instead of on SI. Jim