The people have spoken. You have questions. I have answers. So for today, I would like to share with you some of the email questions that I have received.

Q:

Loved you when you were with the Phils, especially that big home run in the playoffs against Atlanta. I love "

Nails on the Numbers" even more! But I have a question about your "next buy" price target. Exactly what should I do once the stock hits that target? Buy more of the option at whatever the current ask price is? And how often do you act on these -- every day, multiple times a day? Thanks, and keep up the great work!

-- Steve from Somerset, N.Y.

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A:

Steve, my days in Philly were a lot of fun. Thanks for remembering how we pulled out that fifth game. We needed it.

As for your question, let me explain. When a stock hits its "next buy" level as outlined in my newsletter, you should place a market order for the options. However, you need to be sure that by doing so, it improves your position (i.e., you are lowering the average purchase price you paid for all your contracts). If you don't improve your position, you are not achieving the goal of averaging down and are just throwing more money into a position that is going down without reaping the reward. So make sure that before you complete the trade, it does achieve that goal.

Lastly, the scorecard (you can find this under the "Recent Plays" tab on my site), which is the key to following my rebuys, is updated once a day. If I am making further adjustments, I let the readers know.

Q:

When you place an order for an option, do you do it "good for day only," and then if it isn't filled and is canceled automatically at day's end, do you repeat it each day until it is filled? Or do you use the seven-day rule?

-- Gary

A:

Thanks for the question Gary. When I place an order to purchase an option, I place a good-till-canceled (GTC) order. I do this with the expectation that it will be filled within one week. If it is not, I cancel it. A lot can change within a week, so I have put a one-week time limit on my decision to purchase any of the picks. Essentially, what I am doing is walking away from the trade with cash in hand and hunting for a new bargain.

To put things in perspective for you, out of my 96 picks this year, I have canceled just 20 of my orders this season. With the bulk of the rest (69), I have already put wins in the books. I have six open positions, and the jury is still out on one of the picks -- it may be canceled shortly, or it may get filled still. We'll have to wait and see.

Q:

Do you notify subscribers at the time you close a position and the price? Life is definitely an adventure!

-- Lally from Maryland

A:

Lally, it certainly is. And I do notify readers through my scorecard. I keep and display a complete record of all of my picks for this season. Right now, if you were to look, you would see all 69 of my winners and information on them, all of my six open positions and where I am at with them, and the orders that have been canceled to date. It is updated every single day.

Always remember: Life is a journey, enjoy the ride!

Lenny Dykstra manages the "Nails on the Numbers" newsletter service for TheStreet.com. One winning stock pick is enough to pay for an annual subscription to "Nails on the Numbers." (Click here for a free trial.)

At the time of publication, Dykstra had no positions in stocks mentioned.

Nicknamed 'Nails' for his tough style of play, Lenny is a former Major League Baseball player for the 1986 World Champions, New York Mets and the 1993 National League Champions, Philadelphia Phillies. A three time All-Star as a ballplayer, Lenny now serves as president for several privately held businesses in Southern California. He is the founder of The Players Club; it has been his desire to give back to the sport that gave him early successes in life by teaching athletes how to invest and protect their incomes. He currently manages his own portfolio and writes an investment strategy column for TheStreet.com, and is featured regularly on CNBC and other cable news shows. Lenny was selected as OverTime Magazine's 2006-2007 "Entrepreneur of the Year."