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I have just started subscriptions to both of these services. I find they are useful both from a trading perspective as well as an educational perspective. Many newsletters I have subscribed to give signals but not much explanation as to the meaning of the signals. Larry McMillan does both. I would recommend that you be familiar with his book(s) or attend one of his seminars because there is a certain degree of knowledge assumed. The daily fax or email service covers the previous day's market action for the positions being followed as well as providing info on an OEX timing indicator from his book. There is always a list of stocks, futures, indices with unusually high options volume or high implied volatility. There are usually a couple of recommended strategies each week. For each position there is a recommended entry point and exit point. Each position entered is followed each day until it is closed with recommendations for moving stops as necessary.
The Option Strategist comes out twice a month ( I have received 2 so far) and covers longer term positions, typically for options on stocks, indices or futures. I am learning a great deal about the various option strategies by following actual trades rather than just reading about hypothetical positions in a textbook. There is also a hotline service that updates any positions if a change is needed. One of the areas that I am finding very useful is the followup changes to option positions. This to me is extremely valuable because I have been concerned about entering option positions and then not knowing the best way to modify the position as the markets change.
Hope this helps.
Ross Lumley
-----Original Message-----
From: DDibu51051@xxxxxxx [SMTP:DDibu51051@xxxxxxx]
Sent: Friday, September 05, 1997 7:12 PM
To: RealTraders Discussion Group
Subject: GEN: McMillan
Anyone subscribe to Larry McMillan's daily fax service or newsletter? Any
opinions.
Thanks,
Dom
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