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I don't know whether you'd have restrictions, my friend, nor what they might be. I thought "insiders" were entitled to sell stock, but I am not one. Is this a rhetorical question?

Waggie, I'm not really interested in the stock. I'm interested in whether you have defined stop-loss rules that you won't violate. For example, one might sell 1/2 his position at a 20% gain and hold the rest until the 100-day MA is penetrated or there's an apparent head-and-shoulders top or...

Did you hold LLL as it dropped from 65 to 35 during 2002? When do you cut your losses on a long-term investment?

Waggie, I've noticed from reviewing some of your earlier posts that you used to work for Paul Tudor Jones and Victor Sperandeo. That's experience I can only dream of. You've also posted recently that the DOW's pullback so far has lasted 28 days, and that the median bull market correction is...

Sounds like you're long already and out of ammo save good pr.

LLL has a great looking chart - strong move despite a bad market over the last few days. Too bad the market's volume looks like it's going to be lower than yesterday.

I enjoy your journal posts. Please keep them coming. I don't really understand what you're doing, though. Could you recommend a couple of books that would help? Thanks.

In his first book, Victor Sperandeo says that early in his career he traded the following strategy: XYZ is at 25. VS believes it will go to 21 so he buys a 90-day straddle at 25 for $4. If the stock rises to 27 he'll sell short 100 shares. The max loss is therefore $200. VS's idea is to...

Trader42, that is very helpful. Thanks.

Won't someone post a past option trade and the thought behind it? The thread for Optionetics is very interesting. I attended their sales pitch in Charlotte a few months ago. The speaker was pretty talented (at sales, anyway). Out of about 30 attendees I'd say 4 or 5 signed up. I sort of felt...

Woah - fast repsonse. This site is great. My IRA is at Datek (now Ameritrade) - only covered calls allowed there. I'd be doing spreads in my other Ameritrade account that has 10k in it. After reading the many posts on this site, though, I'd probably better open an account elsewhere for lower...

I'm not a professional trader - just trying to get better. I've been writing covered calls in my IRA with some success over the past 6 months, and I'd like to begin to initiate some spreads in my trading account. If anyone would care to share how a particular trade unfolded and their thought...