My tip for today:
Always hedge your bets. I went long wbc friday, and thought it would go to 1600. When it stalled, I become frustrated and considered getting out. I considered the alternative which was to do a bull spread. So I wrote some calls. Lucky, because otherwise I would have dropped a lot of money today.
Moral of the story - no matter how right you think you are, never expose yourself to a large risk if you are wrong. Because we are all wrong 50% of the time.
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Ron Miller, Non-Executive Director
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Non-Executive Director
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