The stock had been just above and just below the line for about a week but today it was above the line all session and closed 18 cents above the line which today came in at $21.12.
However, I still see a period of further sideways to slightly down action as the line of ascent from the Thanksgiving low of $18.45 on a closing basis is still too sharp to be sustained.
On second thought, I now realize I can make the seminars last a full hour, if I spend the first 30 minutes telling everyone about my fascinating & impressive list of achievements, then we take a break for cookies & punch, then I spend the three minutes needed to explain my NP strategies, followed by questions.
Anybody who saw his utter inability to appreciate risk during Maniacal Methods would be nuts to put any credence in anything he says.
Somebody with FDIC-insured CDs at 1-2% or less, OBVIOUSLY has a need for COMPLETE safety. It is absolutely nuts, off-the-wall and actionable to IN ANY WAY equate such insured instruments with naked puts at any strike. All kinds of things COULD happen in a panic. I lived through 1987 and that was the best thing that ever happened to me as I have reduced risk while still doing very well ever since.
He was just as cocky about Maniacal Methods --the refrain: "there is a limit to all things" was sung almost daily.
He is dangerous because his whole life is on this board and he can post all day and night. Those with fulfilling lives and interests can't compete with him in quantity, but quantity does not create quality. If somebody wants to write 20 BAC 3 puts, be my guest. But he is recommending hundreds or thousands and that is courting potential disaster. I know of what I speak. I warned people about Maniacal Methods from day 1 and I was right on. No desire for kudos. Just do yourself a favor and don't get into trouble.
"Why would I ever want an inferior to be reviewing MY portfolio? Is there any CFP out there who is as familiar with the ins-and-outs of deep-out-of-the-money NP's as I am."
First thing, fatty, they are not "NP's". They are Naked Puts, and you are far from an expert.
"I consider myself to be one of the foremost experts on this arcane subject and I'm possibly the only person in the entire country who is seeking to teach what he knows about it."
ANSWER: You are a proven idiot. Investors flea from any strategy that you embrace.
"I'm not one who needs to READ books on the subject as I'm destined to be the one who will WRITE the definitive book on the subject."
ANSWER: Nobody will buy your book. 40 years ago, you had to buy the books that your mother and aunt would sigh over. They're dead.
I have forgotten that long ago my betters educated me that far from book length, my NP expertise could be reduced to a sentence, or at most a few wordy paragraphs.
That's why I decided to get a broker's license & ask my house to sponsor my lecturing career. I figure that with questions from the audience, my three minute talk might last 15 minutes.
Not that Ameritrade is crazy enough to sponsor me in actual stubborn fact, of course, after putting pencil to paper & consulting with legal, after the uproarious laughter settled down.