Day Trading: Facts, Fiction and Discussion
- TONYBRIG
- TONYBRIG
- litab16
- TONYBRIG
- litab16
- RandeS
- TONYBRIG
- RandeS
- TONYBRIG
- RandeS
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» TONYBRIG - Santoli in Barrons
Nah couldnt find my notes from Barrons so had to scrounge around andfind my old copy bout the Options.
I was referring to Michael Santoli's article where he says:
"Covered Call strategies have beebn lousy [performers in recent years,
because by design they will lag in steeply rising Markets." Thats because
calls that are say 10% out of the money go in the money in a SOARING market and
a cap the call writers out of the stock."
Makes correct sense and is true!
Cept- thats for the amateurs who dont have the finesse or for the lazy who are
satisfied with a profit and some down-side protection or whatever.
I'd be willing to bet that Michael Santoli doesnt actually deal in these kind of
Instruments personally. If he does then I miss my guess and I'm wrong or
he needs some experience and some (dam I cant seem to find the perfect word)
..............I guess training and a series of WINS to gain some confidence.
Funny that we have in his case what appears to be a Savvy knowledgeable
Technician who knows his theory but is a NaySayer in this area of Covered Call
Writing.
So it is unfortunately in many areas of Investing in the Stock Market; where a
General Maven (apparently) is BIRDS-EYE WRONG in his summing up.
It is unfortunate since it puts an INCORRECT STIGMA to the Covered Call
GAME.
Then in the same article he talks about a few Funds which deal in options and
(ha : ) mentions Principal Protective Appreciation Fund by Pinnacle, George Fontanilis
11m in assets. George (the articele goes on) used to be a MM on the floor
Is never naked and hedges when the Market changes. Uses Delta hedges
(Rande............. help us on this!) His fund was up 47% in 98 and ytd 60%.
OK so a bit of a confliction here then rite? Youbetcha cept George is the (apparently)
ultimate Pro in the option arena so not just anyone can do it!
So the point I want to drive home is that it can be done but........................
It takes first General Education in the main area then specialized Education in the
Specific area and STEPS like dont try 6 b4 3 and patience and dry-runs (I guess)
and whatever else is necessary for one to get the FEEL of the GAME.
Cause another fails doesnt mean you will!
Cause another wins doesnt mean you will!
How bout confidence?
Doubt if Michael Santoli has it in this area.
Oh his Email address is............
MichaelSantoli @Barrons.Com
Yes I will write him and will report what he says here.
Sounds like fun?
VBOLHH
-- posted by TONYBRIG
» litab16 - Day Trader's Tale
Here's an excellent column of one day trader's experience from CBSMarketWatch.-- posted by litab16
» TONYBRIG - Good Article Lita
This person was doing well and changed histactics and then failed.
Doubt if Atlanta tragedy can be blamed on Day Trader Saloons this guy was just a Maniac.
How he was even a free man after the first
Murder beats me.
Things will settle down in the Day Trading World.
Wonder what BB said?
And other Gurus?
VBOLHH
-- posted by TONYBRIG
» litab16 - Day Trading Report
North American Securities Administrators Association released a damning report today on day trading showing that 70% of the people lost money and only 12% actually had profits. Here are some of the key findings:Deceptive marketing, including inadequate risk disclosure
Violation of suitability requirements
Questionable loan arrangements, including promotion of loans among firms' customers and loans to customers by brokers
Abuse of discretionary accounts where brokers have day traded customers' accounts
Encouragement of unregistered investment adviser activity through the customers trading the funds of third parties.
Failure to maintain proper books and records
Failure to supervise
-- posted by litab16
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