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Someone wrote re:Neid "It's a sobering reminder of what kind of risks we take.
This guy is a best selling author on the subject and he got washed out."
I have a different take on it......It's a sobering reminder that just because
someone publishes, get accolades...etc.....doesn't mean diddly to me.
Sure I may learn something from them, but to hold them up as trading gurus
is foolish.
Point 2 for some of you that sell options naked(or is that naked
options???).....I learned the hard way, but ALWAYS have a buy/sell stp in the
futures market that will offset your option position in case of
melt-ups/downs......getting out of short options the wrong way can be a tough
experience......Imagine some of you web-traders trying to get through on
Monday to cover short option trades.....ouch........
Point3...next time the "wealth without worry" guru calls on you about what a
breeze selling options is....remember Mr. Neiderhoffer.
Point 4- The market is always correct...I'm not......
Hope this helps.....Tom Stein comfut@xxxxxxx
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