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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: John Lee CA who wrote (18357)	11/10/1998 1:22:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

Options..I am getting further away from them rather than closer. I never hold them more than 1 week. They are good for me just for earnings plays when I want leverage in a stock like LOW, HD and don't want to shell out the big bucks for 1,000 shares. They are good only for large capitalization stocks moving with high ranges in fast markets. You have to judge if the premium you are paying is too much so that if your stock moves a few points, the option can stagnate and even decay.. I prefer options in stocks that I have played many times so I can figure the 'value' of the option. That gives me only about 25-35 or so stocks, but that is quite enough as they are stocks like COF, CCI, DELL, QLGC, MSFT, YHOO, DELL,AVEI,HBOC,MDT, ELNK, and others like that. So I wouldn't concentrate on options. Sofware trading analysis: I like is Metastock 6.5 for windows. But you can use Window on Wall Street Pro.. or Telescan Prosearch 5.0. I use that as well as Technifilter for Point & Figure breakouts. I have not updated my technifilter but they probably have a new one. You will need a trading platform for realtime streaming quotes and preferrably real time charts as well. You can get Tal Trading Tools by Townsend Analytics. They are available through the best discount brokers like AB Watley, The Executioner, Wall Street Access. You might not need Nasdaq level II. I had it for a while and did just as well without it. The kind of stocks I buy and the amount of time I hold them (more than a day usually) I don't need nasdaq level II. You will need one or two books on trading..The Electronic Day Trader is a good one and so are Elder's Trading for a living and Bernsteins the Compleat Day Trader.. You might want the book on Options by McMillan. I only read about 3 chapters of it myself. you might need an option software for volatility ranking, etc. I don't use one. You might want a scanning software like Chart 2000 by Worden brothers. I don't use it but I hear it is good. I'm going to try CATS on a trial for scanning the market in real time through my telescan prosearch module. It might be overkill since I can only trade so much and I'm very satisfied with what I have and how it works for me. Don't get hung up on very expensive professional trading platforms like tradestation or advanced get.. at least not until you have traded for about 6 months. I have tried them and again it was overkill.