Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pezz who wrote (60801)	3/11/2005 12:08:02 PM
From: TobagoJack	Read Replies (3) of 74559

Hello Pezz, <<insanity>> Toninight's Gambit: I increased my less than sane but otherwise perfectly rational wager against the following via the mechanism of purchasing LEAP Puts: Centex finance.yahoo.com 2007 Jan Put strike 55 at USD 7.6/shr Lennar finance.yahoo.com 2007 Jan Put strike 50 at USD 6.0/shr Pulte finance.yahoo.com 2007 Jan Put strike 60 at USD 7.0/shr In for a penny in for a pound, what the heck. It is a personal thing, for I want to either be vindicated, or learn the harsh lessons once again. I thought about shorting Google/Martha Stewart or buying their Put options, but then figured: - look Jay, if the market is going to stay insane, it can do so with Google far easier than it could with housing, because housing requires mortgage, and mortgage requires monthly payments; and - if the market is going to be more thoughtful and reflective, perhaps it would do so first with Google, but then surely housing will then tag along for electro-shock therapy morning wake-up call. I just dunno, so let's watch. Chugs, Jay

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