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options hotline , who is steve sarnoff??

post #1 of 10
Thread Starter 
i am thinking in joining options hotline

http://www.agorafinancial.com/THE_PUBS/OHL/index.html

and subscribe to get advises to buy options .

i want somebody who is subscribed allredy to tel me about it .
post #2 of 10
I know plenty of people who have joined some of these sites, one of the problems that occurs is that if they don't understand money management and how to save a bad trade they usually end up losing.
I say this because once they give you the trade your on your own, managing it. And you must understand the mechanics of the trade.
plus you still have to do some homework on the stock, to see if it has high risk. So by the time you review it and make a educated decision, you could have done it yourself.
post #3 of 10
Thread Starter 
Quote:
Originally Posted by chan
I know plenty of people who have joined some of these sites, one of the problems that occurs is that if they don't understand money management and how to save a bad trade they usually end up losing.
I say this because once they give you the trade your on your own, managing it. And you must understand the mechanics of the trade.
plus you still have to do some homework on the stock, to see if it has high risk. So by the time you review it and make a educated decision, you could have done it yourself.
Thankyou for your replay . as i read in this site that you dont have to do any studies. you have three job to do after suscribing :

1- wait for the bulletin every sunday
2- read the recomendation >
3- buy the option and wait for the result .

as shown on this sample:

Stocks Under Pressure and Looking for Support
By Steve Sarnoff

Sample Bulletin


This should be an interesting week to watch. The Dow industrials closed Friday below 10,000 and have underlying support around 9,850. Stocks may be set for a short-term washout low. Gold still has potential to drop down toward the $360 level. So now, without further ado, here is...

This Week's Option Recommendation

Buy the Barrick Gold October $20 put for $150, or less, good this week.

Shares of Barrick Gold Corp. trade on the New York Stock Exchange under the symbol "ABX". The symbol for this reco is, "ABXVD". ABX shares closed Friday at $19.49, looking lower. Their 52-week range is $16.67-$24.16. The $20-strike put is an "in-the-money" option, with $51 of intrinsic value and the rest of its premium for time and volatility. Your broker can give you more information on the gold mining company, but I'll tell you why I like a put recommendation here.

Negative character of price movement implies the likelihood that some more gold bulls may be shaken out. Formidable short-term resistance stands at $19.75-$20.75. Underlying support is at $15-$17.50. If ABX falls to $15, each $20 put will have $500 of intrinsic value. If ABX is at or above $20 on the third Friday in October, your option will expire worthless. That is your risk.

That's buy the Barrick Gold October $20 put for $150, or less, good this week.

Open Option Positions Review

Last week's put reco on Harley-Davidson was not officially triggered.

The Freeport McMoran August $30 call (FCXHF) closed at $360: Sell/Hold. Shares closed at $33.36. $32.50 and $30 support, $33.95 resistance.

The Eli Lilly August $70 call (LLYHN) closed at $20: Hold. Shares closed at $62.71. $60 support, $65 resistance. With a very sharp drop, I was wrong on this one.

The Rayovac September $25 put (ROVUE) closed at $75: Hold. Shares closed at $27.06. $23.75 support, $27.50 resistance.

The BP October $50 put (BP VJ) closed at $65: Hold. Shares closed at $54.35. $49 support, $54.50 resistance. I'm still bearish on oil.

The Placer Dome January 2005 $15 call (ZPDAC) closed at $195: Sell/Hold. Shares closed at $15.53. $14 support, $15.75 resistance
post #4 of 10
I disagree on not doing your own homework, but i'll wish you the best of luck if you choose this method of trading.
post #5 of 10
Hi,

I too am interested in subscribing to this weekly bulletin. Just wandering if you have and what you think of it, or if there is anyone else with thoughts on it.

Thanks,
Snof
post #6 of 10
Maybe we can get a whole bunch of people who never post in this forum to come here and pretend to be interested in this site. Then the rest of us will all gullibly follow along and join up and pay lot's of money to this site so we can get rich!!

Too rough?
post #7 of 10
Quote:
Originally Posted by Baggi
Maybe we can get a whole bunch of people who never post in this forum to come here and pretend to be interested in this site. Then the rest of us will all gullibly follow along and join up and pay lot's of money to this site so we can get rich!!

Too rough?
Baggi, we seen this before, He just didn't read the whole thread, and if he can't afford it on his own, he just don't want to sink alone.
Harsh words but true, those sites only work if you has a lot of money and can auto trade.
Which means they are triggering your buys and sells and there is no guarantee of profits they lose you lose. In a perfect world, you'll make money, in a market like this one today right now, you should spend money on education.
post #8 of 10
Im not sure why you seem to have taken is so personal. Didnt mean any disrespect to anyone

I have spent last few years trading on my own, with both good and bad results.

I am just trying to take the next step, true i do need some education, but obviously want right education.

Am scouring web sites to see which ones may assist thats all. Any assistance would be appreciated.

Again aplogies if i have offended.
post #9 of 10
snof,

I don't have much experience with options so I won't go there, but as far as trading/investing its best to do your own work.

These sites may offer some good picks but what about when their trades go wrong, do they tell you when to exit?

Its best to be able and develop your own style of trading that way you are confident in each play and know the reasons behind the move.

There are tons of websites promoting stocks and saying that they will make you rich.

Trust me these websites are making more off the membership fee they charge than actually trading the markets.

Truly successful traders never give out all of their secrets or stock/options picks.
post #10 of 10
Thanks for the advice amohedas.

I am happy to soak in advice from people, rather than take stock picks from them, have done that before.

It is also good to be able to chat to people with similar experiences and learn from them.

If you are smart enough about it, and dont let greed consume too much, you can be quite successfull.


Snof
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