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RTs:
Good for Gary. I'm glad he had a good payoff. I too had a score in OTM
options the last time we had a big sell-off. It was a smaller overall move,
but the percentages were probably similar. However, the market continued to
rally and I dumped my strategy of pre-guessing "the Crash" and holding
useless options.
Talking about managing money is little tacky, though.. I understand he's
excited and that's great, we can all understand getting jazzed, but there
are other channels for soliciting capital.
That said, for anyone to try and emulate his trading on his vague
description would be dangerous. I trade futures, that's my way. A lot of
RTs trade options, like Gary. That's what they do. If you're just looking
for an approach, you have to search for yourself without biases and without
hoping to make 1000% returns in three weeks.
I've been watching the S&P and Dow for a while, looking for weakness, as
I'm sure we've all been. It is a once in a lifetime opportunity. I'm hoping
we'll have a nice rally at some point and then get to short again.
To trade consistently though, you need to find more common and less
spectacular opportunities. As I mentioned earlier, I'm much better off
going for consistency and smaller profits than I am waiting for "The Big
One". That allows me to control my drawdown. Maybe it's different for
someone else... I'm just learning my own style.
PG
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