Chat Archives
Let's Talk Trading (tm) with Ken Roberts
from 04/13/2004
As we begin this evening's session, let me state the reason I conduct these monthly chats: to provide you the opportunity to ask questions and pick the brain of a successful, long-time, real-money trader. It's not the highest and best use of our limited time here together for me to define basic terms and explain introductory principles taught in your Course materials. That's what my Course Counselors are here for... Now is the time for you to use me to help you apply the basics you're learning and to prepare you for what to expect once you're out in the market itself (either paper trading or with real money). And if we have some fun along those lines, so much better. Alright... I've got a Hoyo de Monterrey Double Corona fired up, here's our plate of freshly baked snickerdoodle cookies, the coffee's poured, so let's talk commodities!NOTE!!! When commenting on one of my Courses, please identify WHICH ONE. Also, when relating trading experiences and/or results, please give details: Futures contracts, options, options AND futures, etc. This helps others follow along and learn from your experience too.
DAVE FROM OHIO asks (6:18:37 PM):
DAVE FROM OHIO- HELLO KEN AND THE GANG!!!! KEN, FROM A LONG TERM TRADING PERSPECTIVE IS OJ THE LEADER OF THE PACK...??? THANKS DAVE
Yes, Dave, OJ's dragging the bottom of its Monthly chart, but so are many others (this sounds like the lyrics to a song Frank Sinatra used to sing . . . .), so we can analyze this more deeply by going to TOVI and sorting on TOVI's Long-Term ($ Value to Upside Target) which shows the Nasdaq as #1 ($204,772), Coffee as #2 ($46,899), and OJ's #4 with $22,150). Does this help?
Steve asks (6:22:38 PM):
Ken,July Pork Bellies just formed a nice 1-2-3. 50% looks like about 95 on the daily chart and about 82 on the weekly chart. I jumped the gun and went short 3 contracts yesterday. Worked out today. Limit down. I think this looks good for awhile. What do you think Ken?
Yes, Steve, Pork Bellies' May (front month) 50% = 94.50 and its Weekly 50% = 72.5 (I use the high and low that give me the greatest 50% retracement). So far, you're right: Pork Bellies is headed DOWN! TOVI still calls Bellies UP and Strong, so if I were you, I'd be ready to bail and take my profits on that put you hold. Happy trading!
Richman asks (6:23:28 PM):
Hi Ken, I would encourage everyone to get TOVI, my trading success has increased dramatically since I purchased it over the summer! Thanks
Thank YOU, Richman (does TOVI have anything to do with your name?)!
bondman asks (6:24:10 PM):
Ken, Tovi is pretty cool. I focus on the bond market, recently made some money, and tovi is supporting my models and all the stuff I learned from you since 1997. Thanks
That's how I see it too, bondman! TOVI on!
Big Trader asks (6:26:49 PM):
When you are asked why you use silent stops, you explain that, the floor traders will not be able to run the stop. My question is, how can a floor trader do ANYTHING to make a price move?
It's a great question, Big Trader, and I'd love to see a movie about what goes on in the pits --- it would be a thriller (maybe Brad Pitt should play the lead role?). To answer your question in a nutshell, Big Trader, just realize that floor traders actually trade too, so they can begin buying or selling virtually at will. Thanks for joining us this evening.
suzal asks (6:27:58 PM):
Hey KenJust want to say thanks for your courses. I purchased it in '99 & paper traded up until last year--successfully-on & off. Money can make one quite emotional. Anyway, I bit the bullet and made 14k last year and I am up to 3k this year. Got out of silver right on time. Missed cotton though. Quite happy and trying not to be too anxious. And those out there who has a broker who 2nd guesses you-FOLLOW your gut and you will put more $ in the bank.
Spoken by someone who knows what they're saying! That's right: No one cares for your money like you do! Thanks.
bondman asks (6:28:57 PM):
Ken, give me the name of a really good cigar (sold in US). I am smoking a Padron right now and watching G.W.
Padron's are great cigars, bondman. Also try OPUS X by Fuente. How's our President doing?
kris asks (6:30:47 PM):
Kaukauna, WisconsinHi Ken, I've been paper trading for about a month now and I'm wondering what your opinion is on averaging losers on options. For example I purchased 4 July OJ 85 calls at $30. Then I purchsed four more when premiums dropped to $15. Do you recomend this?
Absolutely, kris. That's called "Dollar Cost Averaging" and works wonders. The only thing I'd add is to run those "cheap" options by TOVI to be sure they're not RED options. This feature of TOVI ALONE is worth its weight in Oranges! Thanks and keep us posted.
Spencer for Utah asks (6:32:15 PM):
Hi Ken, Thanks for taking this time to talk to us. I started your cources last year and did well for awhile. Turned $5500 to $18,000 in two months. But I did it with contracts and only used options as hedges. Everytime I tried to make money on an option alone I failed. My question is this, Are most of your trades Contracts or Options?
Most are contracts, Spencer, but the Options column is growing every day. But don't let that sway you. Find out for yourself by paper trading an options "account" on TOVI's two-week free trial. I know TOVI will open your eyes. Thanks.
KenF asks (6:35:13 PM):
If you are long a futures contract, are you required to offset your position by the FND? What happens if you go past the FND still long the contract?
If you're long, KenF, you may hold that futures contract all the way to the day before First Notice Day (but I don't recommend getting that close). If you're short, you must be out by Last Trading Day.
Tre-Tre from Toronto asks (6:36:10 PM):
Captain Ken I would like to relate a trading experience a month ago I bought Dec. corn off of a flat top triangle/pennant I rode the dips a couple of times and 3 weeks after my purchase I left after tightening my stop with $1680 after commissions and fees thanks for your courses and a few methods I devloped myself and you know what it felt damn good.
Good for you, Tre-Tre!
B Berens asks (6:41:31 PM):
Dear Ken,Do you shop for options after the market closes or during market hours? BB - Daytona Beach, FL
Both, B Berens. For example, I go to TOVI and/or U.S. Charts after the markets close for the day and take a look at those options I'm interested in. Then, I call my broker tomorrow morning to get quotes and/or place orders to purchase those. So the answer is "both." Thanks.
mkmsystems asks (6:44:24 PM):
Hey Ken and gang, Mike from Ohio! As a GAB course member, I've been currently papertrading several markets. Using TOVI, in the short term rankings, when the market goes from strong to moderate, does this mean that the market is cooling down and I should be looking to get out of a particular market? These chats are some of your best things you do for, Ken! Thanks!
Thanks, mkmsystems! Yes, a strong-to-moderate drop on TOVI does mean that that market is "cooling" off, but I don't exit that market at that point. Perhaps that is an exit strategy that someone out there does use, but I don't (and I've never actually heard of anyone using that as an exit signal). Be sure you DO have an exit strategy BEFORE you enter any trade, however. See TOVI's Four Trading Strategies for ideas and examples.
dtdmother asks (6:47:39 PM):
Hi Ken... I have been holding out for eurodollars to go back up before liquidating, but it doesn't seem that this is going to happen any time soon and I don't want to miss out on any of the other moves that are bound to happen... Do you see eurodollars increasing in value any time soon or would I be better off just cutting my losses and trying to rebuild my account with a move in another market? If so, which market would you reccommend? Thanks Ken for all that you do.
First of all, if you're long (or have calls in) the Eurodollar, realize that Eurodollars are at their all-time HIGHS (and, therefore, don't have much upside potential at all). If anything, I'd be short (or have puts) in Eurodollars now. No one knows which market(s) is/are going to move next, but TOVI has been a tremendous help along these lines. Have you taken advantage of TOVI's free 2-week trial yet? Thanks. (By the way, TOVI rates Eurodollars DOWN both Long- and Short-Term.)
kristos , England asks (6:50:08 PM):
Ken, did sugar really hit 1ct at the start of the year or is that just a missprint on the sugar monthly and weeklies? Also are you short bellies yet cos, as you know, what goes up must come down !!Love these chats ken nuff respect.
If it's on a chart, it did it! No, I'm still long Bellies (based on TOVI), but you're right --- they WILL come down again. How are things across the pond?
TedfromIowa asks (6:51:54 PM):
Hi Ken...I've discovered through paper trading that you could just use TOVI alone and have success, but I find it smarter to use the charts and TOVI together. For instance, some markets like Rice may be in a Strong Up trend right now and you could trade it just with that information, however, if you look at the chart, Rice is at 12 month highs, so with that additional information you can decide if it's worth the risk to go long that market or wait for a turn around.
Great observation, TedfromIowa. You sound like me!
Milver asks (6:55:59 PM):
Ken, What do you think of shorting July Beans at this point? If so, where would you put the stop loss? Thanks.
Well, Milver, Beans are down over 50 cents since last Thursday! So I don't know if I'd short it just now. (By the way, TOVI still rates Beans as UP and Strong Short-Term.)
dxw asks (6:59:10 PM):
You have mentioned asking for a bid/ask spread from the floor on thinly traded options. What do you do with this information?
For example, dxw, let's say your broker goes to the Floor for a bid/ask and is told 75 bid, 100 ask. This means sellers want 100 for this option and buyers are willing to pay only 75. So you decide if you wish to bid for this option. If so, how much? Is it worth 100 to you? Then you'll get the option. But you may decide to only offer 80, for example. Then the broker would place your buy order at 80 and see if you're filled. Now the bid/ask becomes 80/100.
porteno1 asks (7:00:37 PM):
Hi Ken: I've noticed that the contract dates in US Charts don't reach as far as the dates Tovi have Would you elaborate on that?Thank you so much for everything you do and done!!!!!
Yes, porteno1 --- good observation! TOVI does cover EVERY contract/option month that exists. U.S. Charts soon will too. Thanks!
Tom&Laurie in Fr asks (7:07:34 PM):
Ken, I am a TOVI novice, and my question is - how do I find available unleaded gas puts. You are the light at the end of the tunnel! Thanks.
Hello Tom&Laurie, and welcome! I'm not clear on your question, but I'd have to say call your broker. If it's listed, it's available. Thanks.
ML asks (7:08:42 PM):
Can you give a recent example of how you used TOVI for a short term futures trade????
Sure, ML, I'd love to. I've traded TOVI's Futures Strategies #1 and #2 in all markets since last fall.
DM HydroPower asks (7:11:42 PM):
Ken, how have you been keeping? Me, well I've been keeping my soybean put and my coffee call for the eventual turnaround. Have to thank you for publishing "How to Make the Stock Market Make Money for You" by Ted Warren. In a word, brilliant. So much more than I ever imagined, and it makes perfect sense. What I wanted to ask was your opinion on coffee (doesn't everybody?). After reading TW's book, I "identified" a right triangle formation and it has been almost following it to a T. Coffee dropped hard again today, which is what I suspected it would do soon. Do you see it slowly recovering and starting the mark-up stage, or do you see maybe another shakeout? I'm already in, but I just wanted to hear what the Commodity Guru has to say about it. Cheers Ken, and thanks for these chats.
That soybean put's paying off lately, isn't it, DM HydroPower?! I'm long, long, long Coffee too, DM (even though TOVI's Short-Term rankings place Coffee as Strong Down as of today). Yes, wasn't Ted Warren something else? I would love to have met him.
scott in sebastopol asks (7:13:44 PM):
Howdy Ken, thanks for all the extra effort you give to the chat room for all of us--I am wondering how you and your buddy TOVI see the soybeans market moving in the near term. It looks to me like there is some support around 950 and then beans could drop pretty fast. (keep up the good work, and thanks again)
Yes, they HAVE dropped pretty fast, scott, and TOVI's Short-Term Rankings place Beans as Strong UP with the DTCP at 936 basis the May contract where Beans would change trend. Thanks!
Winthorp asks (7:15:57 PM):
Hi Mr. Roberts! Just wanted to say thank you for all that you do and have done for us all. My question is about the buying and or selling of far out futures contracts. My broker discourages me against getting in far out contracts based on the positions of the commercial traders vs. large funds and speculators. Shouldn't I be loading up on '05 OJ so I can relax like you and let the market come to me? Or should I be mindful of what the other heavy hitters charts and numbers say?
I pay NO attention to those stats, Winthorp. But let me suggest this: Keep paper trading until what your broker says doesn't phase you one bit. Thanks, and please stay in touch.
mikeylikesit asks (7:19:02 PM):
Ken,Soybeans broke through the no 2 point in a 1-2-3 top formation yesterday at 967 - do I have that right?Thanksp.s.You have a great collection at Four Star Books. If you haven't yet read a book called Three Magic Words by US Andersen - Check it out. I think you'll enjoy it.
Thanks, mikey! Yes, I read that book way back in the '70s and it IS a good one. Beans' (May) #2 point look to be closer to 980, but that was taken out yesterday and today. (Don't chase it now!)
Spencer for Utah asks (7:20:08 PM):
Ken, I have some follow up questions. Do you have more than one Broker? When should one incorporate and set up a brokerage account?
I have one broker only, Spencer. You should set up a brokerage account after you've paper traded so much that you're often saying "I'm tired of being right and not making any money on it!" Thanks!
Go Flames Go asks (7:22:28 PM):
Hi KenI had great success with 280 Corn calls I bought it at 2 1/4 and liquidated 1 at 20 and one at 46 took nice profit. I wish I could say the same for OJ, is it ever going to turn? What do you think about Cocoa calls?
Good going in Corn, Flames! Cocoa calls is a contrarian play vs TOVI's Long- and Short-Term Rankings of DOWN in Cocoa. Yes, OJ's at the bottom of the ocean now, and it will turn (still in a Strong Downtrend short-term, however, according to TOVI). Thanks.
len reed asks (7:24:18 PM):
len reed from redbridge ontario canada asks; ken what is tovi and how does one subscribe?
Go to www.tovitour.com. Have fun!
HuskerTrader asks (7:26:19 PM):
Just getting started in the Rich Man's Secret Course. Do you still catch yourself watching your negative thoughts or is it second nature now. Also are there some videos etc for the RMS Course? Thanks for the Course and TWMPMM I & II Ken.
Nope, not second nature, but that's the idea! I'd recommend the videos (and everything else) in the Amazing Technique for Success Course. It's my BEST (and least popular --- which speaks volumes . . . .). Thanks!
Drew in Atlanta asks (7:29:21 PM):
Hi Ken, TOVI shows the June 2004 Euroyen in the short term rankings to be in an uptrend and going from neutral to moderate. Long term, this market is in a downtrend. Is this a market that you'd generally wait on the sidelines until TOVI shows that both the short term and long term rankings agree (long term rankings showing a green indicator)? Also, why does TOVI seem to follow the front month contracts vs further out months in the rankings?
Great questions, Drew. First of all, trading the Euroyen (or ANY market) all depends upon YOUR trading plan and strategy. Remember: TOVI is NOT a system; it's a tool. Personally, I like being in a market when it begins its takeoff, but that can be costly and painful too! TOVI typically does NOT follow the front month contract, but rather the "most active" futures month (the contract with the most Volume and Open Interest). That "Active Futures Month" is listed on TOVI's Short-Term Rankings page. Thanks.
DM HydroPower asks (7:31:13 PM):
By the Way Ken, who's your favorite to win the Apprentice? Bet you a coffee call that it's Bill!
You're absolutely right, DM! And I've been predicting the winner will be Bill since day one. I think The Apprentice is the best thing to happen to America in a long, long time. Such lessons! Isn't Capitalism great?!
vic asks (7:32:04 PM):
Greetings Ken,I am just starting out and I am wondering if it is truly possible to earn a "significant" return on a small initial investment? For example, let's say that I purchase 2 contracts at $200.00 each? What are my chances?Thank you,Vic
There's no one particular answer to your question, vic, so let me put it out there and see what responses we get tonight . . . .
heinybass asks (7:33:54 PM):
Ken,I've been a course memeber since March of 2003. Have taken some profits in Sugar, Coffee and I'm positioned in Beans, Copper & Euro Fx really like the looks of OJ. My review of Us charts hard and electronic would have me position myself short, puts of course in bellies. I believe it's time to subscribe to TOVI helping to refine my trading nothing like giving up profit to greed as I have in the past. Hope TOVI is as good as I suspect, I do enjoy your products. Thanks for the book by Vernon Howard, talk about calming down and becoming more focused it has really help my trading.Thank you for the kick start into Self Awareness, and of course starting my comodities buisness.
Thank YOU, heinybass! TOVI IS as good as you suspect --- just wait'll you see! Go sign up for your free two-week trial!
nic asks (7:34:52 PM):
Hi Ken We really look forward to your monthly chats and just started with TOVI and LOVE IT already!!! All of the time you put into developing it was really worth it. We do hope to see you out on the road sometime soon. Hogs have been doing amazing things lately and thanks to TOVI I have learned that all of my planning is paying off!!Thanks, Nic
(Those pigs haven't been flying, have they?) Thanks, nic! TOVI on!
Candyman asks (7:35:43 PM):
Made money in Corn and now Soybean but what about coffee? I need the exact date and time to get my call options please.
Hey Candyman! No problem --- call TOVI! Seriously, though, TOVI will help . . . .
buckeye gal asks (7:37:05 PM):
Buckeye gal from Ohio Hi Ken been watching Aug. beans it has a 1,2,3 formation was going to get a couple of puts but acording to TOVI it is still in the red an in the up position when do you buy options.
That all depends upon the strategy you're using, buckeye gal. Choose TOVI's Option Strategy #1 or #2 and give it a trial run on paper. Find out what suits YOU. Thanks!
Rob from ND asks (7:39:15 PM):
Hi Ken, I've got two questions tonight. First what are Single Stock Futures and second any idea when you guys might be updating your website? Thanks for taking time for these chats! P.S - Just a reminder to everyone to not listen to their broker's "advice": My broker thought I was crazy to want to buy an expensive Soybean put (based on TOVI's recommendations). I would have been up $1000 had I not listened to him.
Hard lesson, Rob, but a valuable one. It will pay off many, many times over in the future. A Single Stock Future is a futures contract on one single stock (Microsoft, for example). Believe me: We're working, working, working on ALL of our websites as we speak (the sun never sets on us not working on our websites)! Thanks.
Steve asks (7:43:14 PM):
Ken,If a 1-2-3 formation indicates a downward move, but TOVI indicates an upward move in the short and long term, which takes precedence and why?
Now that I have TOVI, Steve, I let TOVI CONFIRM my chart formations. Give it a try . . . . Thanks!
Tre-Tre from Toronto asks (7:44:30 PM):
Ken, overall since implementing TOVI in your trading has it been better by a long shot or only moderately better.
It's been PHENOMENAL, Tre-Tre.
tradeboy asks (7:45:30 PM):
Hi, Ken and gang. Tradeboy here. I subscribe to TOVI and U.S. Charts. I love them both! One question. I am looking at Australian Dollars. My problem is, my charts don't have Australian Dollars. I love TOVI, but like to see the chart. Any solution?
Yes! Tradeboy. U.S. Charts ONLINE cover the Australian Dollar market. (Aren't you glad you asked?!) G'day!
Monika asks (7:48:18 PM):
Hi Ken, since the grains have dropped the last few days, do you think the recent support on the corn chart will hold? Or will it go lower and then back up again? To me it does not look like corn has formed a top. Many thanks for your answer.
No one knows, Monika, if Corn's support point will hold. TOVI says Corn Short-Term is still in a Strong Uptrend (Long-Term too) and the DTCP is 302 (where Corn will change trend). Thanks for logging on this evening.
Connecticut Bob asks (7:49:08 PM):
Ken: I join in praising the chatroom. Very helpful.My question is why are you long on coffee when TOVI says it is a strong down? My guess is that you were long before TOVI said strong down?If so, why not get out?Connecticut Bob
I've been long Coffee since I was born, Connecticut, so I just can't NOT be long Coffee!
treepartner asks (7:50:42 PM):
Hi, Ken and all! Got in late, but wanted to get in on the chat. Hope to see you soon. By the way, my cigar purveyor is having a smoker Friday--free Montecristos and other goodies! Wish you could be there. Thanks for all your support.
Free Montecristos???!!! Yes, I wish I could be there too! Glad you joined us this evening and look forward to seeing you in N'awlins!
Dean asks (7:55:12 PM):
Hi! Can one effectively combine the concepts of "The trend is your friend", and the contrarian Temmpleton statement that says "invest where the public is not"? Thanks loads for your input.
Great question, Dean. I'd say there's no conflict because the public typically buys at the TOP and rides the market down (with losses). I believe TOVI tells us that a market has begun its new trend way before the public is even aware that it's moving. Hope this helps.
proffitaker asks (7:56:32 PM):
ken did it take you awhile to fully believe in the charts and did you jump right in or keep slaving away until you felt comfortable?thanks for everything Proffitaker
I paper traded quite awhile (for me --- several weeks) before trading with real money. But I scoured those charts constantly (and still keep them mighty close --- even with TOVI). Thanks.
George asks (7:57:46 PM):
Ken, you've often said no one knowns as much as you think they do andno one cares more about your money than you do,I find both statements more and more obvious every day. Would you say that since you developed and used TOVI, your already succesful trading has further become more profitable?. Thank you!
Absolutely, George! (Is this THE George --- Donald Trump's trusted advisor?!)
Tre-Tre from Toronto asks (7:58:03 PM):
Tell vic to paper trade! the copper calls were like $250 in the fall and rallied up to $4200+ !
!
Profits asks (7:58:19 PM):
Vic, there are too many variables: commodity, contract month and volatility for starters. You could lose it all or buy cases of Kens favorite cigars!
!
sher bear asks (7:59:05 PM):
Yes you can make a very nice decent profit with just $200 investment. I made $2,ooo on Soybeans --could have made more but got out when it hit my point. But of course it can go the other way to
(Vic, are you seeing these?) Thanks, everyone, for your input.
im_hired asks (8:00:17 PM):
Hey Ken and team, thanks for the chat. I like TOVI so far... but the strategies almost seem too simple. Should I be trying to incorporate what I learned in TWMPMM I & II along with the TOVI strategies?
Simple is GOOD! Yes, use the basics you've learned and incorporate these WITH TOVI's tools.
Bonita Joe asks (8:01:43 PM):
Ken - I don't see how anyone can trade without either TOVI or the Charts. Sugar in Jan was Moderate Down in Tovi but way down on the charts so bought 20 Oct '04 600 CALLS. By March 5th I have liquidated half of those, bought 14 more Sugar Calls - the May '05 with 650 Strike Price. Based on the charts I liquidated the other half of the Oct '04 Friday the 12th all for over 100% return. Now Sugar is dropping (maybe) and may buy more, BUT half of these decisions are made from the charts. The options are from TOVI. Have done the same with Cocoa PUTS and started buying CALLS in OJ when it was moderate down in TOVI, but out far enough for the turn around! My only loser, and not big, is Natural Gas and it may come around!!!!Thanks KEN!!!!
Thank YOU, Bonita Joe! Hey everyone: Are you seeing this?
Bonita Joe asks (8:02:21 PM):
Ken - Bonita Joe again. Using options that are at, or near, the money is a lot easier on the pocketbook as there isn't a single margin call. My trading for 3 years has been so-so but with TOVI I have become more patient and thinking "in the present moment" more which helps each decision. The profits are tremendous! I won't go into too much on that but 100% should be expected with patience, TOVI, and Charts. Gotta use "silent stops", not get greedy, and don't look back!
!
nic asks (8:04:14 PM):
Hi Ken, using TOVI futures strategy #1 I am monitoring June canadian $ and I wonder if you pay much attention to the momentum ranking when all other criteria is met. And hey why did it take so long to fire Nick on The Apprentice? I was pulling for the country boy Troy for a while but think Bill was always the right choice. Thanks for all Nic
That's right, nic: Nick and Troy are great salesmen, but not CEO material. I pay NO attention to TOVI's Momentum Ratings, but I know many traders who do. Glad you joined us this evening.
bubba asks (8:05:07 PM):
ken, just getting started with your course. which is best to get me up to speed, paper charts or online charts?
I'd go ONLINE, bubba: There's so much more information available (and coming soon) than can be printed on paper charts. (Plus, they're interactive.) Thanks!
scott in sebastopol asks (8:09:38 PM):
Hey Ken, Scott from Sebastopol, ca -- Is there ever a time when you go against what TOVI says? And would you say that it might be a "gut" decision? (all based on careful study of the charts of course) Also, would you ever characterize yourself as addicted to trading, or could you stop today and just teach us all how to be full time traders?! THANKS FOR YOUR COURSES!
I LOVE trading, scott. It's a passion. (But my wife Krista's sitting here right now and just said that I COULD quit, but WHY?) I AM going against what TOVI says in Coffee right now, but that's probably just because that's what I was doing BEFORE TOVI. It's cost me a LOT of money waiting out the drops and the LONG, LONG years, but I WILL be there when Coffee takes off this time! Otherwise, I don't think I've ever seen a TOVI ranking and deliberately gone against it. Thanks!
Mad Max asks (8:10:51 PM):
Evening all. Ken, Cotton still isn't showing any type of pattern, I know TOVI sees it to the downside (majorly) but how do you short a contract of cotton with it's severe price volatility. I've got 4 CTZ4 puts at 55, but I'm too chicken to pull the trigger on a futures contract. What are your thoughts? Great forum.
If you're "chicken," Mad Max, then paper trade, paper trade, paper trade. Glad you've got those puts, though!
Sabrena asks (8:11:29 PM):
Sabrena asks; Iknow Im late but I want to coment on your Rich Mans Secret Novel. Is there another book in the making?
I have one "brewing," but haven't begun writing it yet. Thanks!
Well that's it for another month. Check out my favorite web sites: www.tovionline.com (Have you taken my personal tour yet?) ; www.uschartco.com ; www.fourstarbooks.com ; www.historictrees.org ; www.billoreilly.com ; www.wildlifeimages.org ; www.salestax.org (Let's abolish the IRS!); www.LP.org (Take The World's Smallest Political Quiz and see where you stand politically). My next chat will be Tuesday, May 11th (The next TOVI Chat is Tuesday, May 4th!). As always: Use these newfound powers only for Good. Good night, God bless, and watch where you step!
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