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Tom Stein wrote:
> 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
Greetings Tom:
All are well taken. Among them, point no. 4 is always my favorite. Regards.
Have a good one
Jeff Harteam
Hong Kong
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