Future option trading – If a stock is being accumulated for merger purposes and the merger falls through, you may have what the radio announcers call "that locked-in goodness.

" Incidentally, in mergers the shares of the company sought, rather than those of the buyer, are more likely to advance rapidly. In all of these fields of speculation, keep in mind marketability. When you buy for an upswing, you will want an assembly of eager buyers waiting for you when you are ready to sell. Don't get trapped in thin, inactive markets. The big active issues will usually provide the best arena for your trading forays. Resume

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