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

To: yard_man who wrote (16836)	4/18/1998 8:46:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Tippit;RE>Of course one must be open-minded Jim, even in a bloated market like this one --there are good longs.<< I agree with the good longs, they are hard to find tho unless you already got them <G> ( stuff you got cheap but would cost you big in the TAX dept to sell..) AS for the open mind, not to oneup you but here is a saying I like.. An open mind is all very well in its way, but it ought not to be so open that there is no keeping anything in or out of it. :Samuel Butler (1835 - 1902, English novelist, ) ----------------------- We all have our strong points and weak ones.. I can't catch all the fish in the sea, I can't even count them.. so I have ruled out OTC;BB stocks..COMPLEATLY, and with very few exceptions I won't trade a stock that has not got enough status to have options on it..( I may not want to play the options but I want the stock to have them so I can look at them any way; as I can at times gleam more info from the options than I can news reports or PR ) ---------------------------- I'm closed minded about shorting naked..never have and if I ever get enough money that the risk would not bother me, then I'll retire from the equities market so I will never short naked. It must be against the box or against calls or warrents. ------------------------------ I do not use stop losses..if I'm tath worried I buy puts or exit the stock.. I may have a mental stop loss, but my broker will not know what it is. I will have to reconsider this if I go offshore..like I don't want to leave any open positions in stocks if I'm offshore..but might leave some funds working..and if they let me exit any fund say it drops 5%..untill I can look things over. My last promblems were while I was at sea..had I been in I'm sure I would have sold..( I had to much confidence..and left things ride last July when I went offshore..by the time I got back in it was to late..I made an exit on the Dec 5th bubble..on all but one stock..then never got back in till Feb1 ..while I've done real good since Feb that Oct dip offset a lot of gains I could have had. -------------------- I won't gamble on margins..were I may use them to grab somthing while I'm shifting money around..the money to pay them off is already in the pipeline or on stand by and is not nor does not come from hoping to make gains or sell other stocks at a profit.. Like I may have A CD coming due next week that I have already ear marked to go into equities..rather that lose interest on the CD or entail a penalty I may margin for that short time. I did get on margin once by accident.. lucky for me my pick was good <G> I bought some options that unknown to me at the time had a 2.5 X multiplier in them as they were post split , so 20 contrants really gave me 50 contracts.. I I didn't mean to buy that many ! And didn't have the cash either but had enough equity that they filled them on margin, heck if that thing had moved aginst me I would have gotten eaten alive that's leveraged two ways..options are enough leverage..to combine them with margins is to double the risk. ----------------------- Last If it ever comes a day I don't pay my credit card bill in full on the due date..and avoid interest..I will exit the stock market for sure. I can see a home loan, or some low interest loan..but not credit card rates. As it is I have zero personal debt and I feel that lets me take some risk I would not suggest to others that have a personal debt overhead. ------------------------ Jim