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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: David Wright who wrote (10613)	5/2/1999 3:12:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 14162

David; Re > Sort of makes you wonder what's going to happen when 5% get scared about Y2K and decide to cash up their IRAs? Say about November, when they can roll-over after Y2K, but within 60 days, to avoid penalty. All us smart people just know that Y2K will be fixed..no problem. Do they? You sort of lost me on that one , like in the terms used "cash up their IRAs " I assume you mean go out of stocks into money markets ? " November, when they can roll-over after Y2K, but within 60 days, to avoid penalty" that lost me completely , guess I'm not up to speed on this roll over & penalty thing. Tell me more. --------------- As for In casino poker, you don't play against the house. They just take a pre-determined cut for every pot. All of us "regulars" played a net-sum-lose game against each other. Ah here is the rub, in the market you are not just playing against each other, but also against the house..( they don't talk of it much ) but market makers and even the specialist can and do take up short positions any time they see the order flow go negative, they don't just take the fixed cut such as the spread we see, they skew the bid/ask on a level we don't see. On top of that every major broker has what is called a "war room" while the brokers on the floor and at the office can get in deep kimshee if they are caught front running your orders ( buying or selling for them self in front of an order placed with them,) There is more than one reason for that, they only want the company "war room" to do the front running. -------------------- I play sector spiders all the XLs qqq, spy mdy and I'm really into them a lot deeper than I have the time to explain, by that I mean I don't just track the spider, but I track every stock in it with the correct weight spitting out where the "spider should be" along with a tally of the volume on each showing me which stocks in it has the attention of the BIG money. It's a trip, & also takes more work than any J6p is subject to do. I know which stocks in each sector has the most power over the respective Spider. Like knowing and watching the Aces.. I tally the GAP ups/downs of every stock on the open and have them sorted by their power, and can often see the cumulative effect the sector will have on the spider before it has time to react. When the sector is in or about to turn, it often gives signals, and often it don't , so while that causes me to have to sit out of the game more often than place a bet, when the GAPS , & volume do say bet. I have not lost on "one" ... as of yet since I got this thing set up. It's a trip..where the gaps , and the volume are in respect to the moves is like looking at a mullet who always rubs his nose when he is bluffing. --------------- I run two accounts and don't give my IRA as much attention as the regular account , while I do move from stocks ( or most often funds ) into cash or MMs this roll over thingy I never looked at. Tell me more. The Ira is handicapped when it comes to a lot of things, no margin , no shorting, no options except covered calls and such as that. To get around some of that I can buy FUNDS that have leverage, but I don't want to talk about that or they may change the rules again, and there are a few short funds, but getting in and out you have to be ahead of the curve as closing Nav gets you, so you have to short when the markets closing up, and go long when it's closing down if you know it will gap up the next day..this can be very difficult as my fund orders need to be in at 2:15 my time and the next day signals ( when you get some ) often don't really show up till 3:15.. Jim Jim

To: David Wright who wrote (10613)	5/2/1999 6:30:00 PM
From: Dan Duchardt	Read Replies (2) \| Respond to of 14162

Thermodynamics, Energy, Entropy, Closed systems, Open systems, Wealth, Value, Creation, Destruction, Conservation, Randomness, Predictability, Zero sum games, Human behavior, Labor of man, War, Peace, Invention, Innovation, Organization, Efficiency, Progress OK.. So now I have all the parameters. All I need is a way to quantify everything, and the formula that will show me given state A (now) what is state B that follows. Then I'll have as much money (wealth???) as I can ever use. On second thought, can somebody just give me the high and low prices on one stock for tomorrow. You name it, any one of them. I'm not fussy. Sorry I missed the morning party, I might have added one more post that said something right, or close to it anyway, and something that was oversimplified, or misguided, or just plain wrong. I happen to know quite a bit about Physics, and Engineering, and how systems behave, deterministically or statistically, and precious little of that has any relevance to what goes on from one minute to the next in the marketplace. The simple fact is that most of us are not content to settle for what statistics will bring. If we were, we would all be buying and holding index funds. We are trying to beat the odds by getting inside the market and finding the hot spots of the moment to tap for our personal gain. We all want that cozy seat next to the fire where we can absorb all we want, and give away only what we choose. How come that darned fire keeps moving and I keep getting the chills? Something in that formula of mine must not be quite right!!