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I've been away for a few weeks and noticed in my old email messages
a discussion about Wade Cook. I have read much of what he has written and
have no particular position about the worth of his "stuff".
As I read his "teachings", his MAIN technique for profit (other
than selling his publications and seminars) is buying options on a stock
when they announce a stock split. He buys short term 1 or 2 month 'at the
money' options and longer term 6 month slighly 'out of the money' optins.
Much of his WIN network bulletin board is devoted to announcing stocks that
have announced a split (Hot off the press type stuff) Even if you miss the
initial option purchase immediately after split announcment, he claims
there are several opportunities along the stock's path where profits can be
made.
He claims a very high percentage of winners with this technique.
I'd love to hear some opinions about this technique from the many option
experts we have on this list.
Again, I don't care if Wade Cook is a saint or a sinner, does he
have someting here?
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