The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: saveslivesbyday who wrote (60477)	8/22/2006 9:13:13 PM
From: ChanceIs	Read Replies (3) of 306849

>>>how anyone can spin a 3% rise on that earnings report? Sorry, IMO this stock won't stay over 25 for long,<<< Very good sir. What I didn't relate was that after I bought my poots back for a quick 30% gain, the stock kept on rising - against my short. I never let emotion get involved with investing, but it really POed me. So what could I do but sell a nice fat $25 by $27.50 vertical call spread for $1.05. I could buy it back for $1.00 by the close, but that wouldn't quite cover my transaction costs. I will put in an order to buy it back for $0.75 in the AM, and to reshort my original poots for $1.40. (I know, I know - it probably will run down to $22.50 by Labor Day, but I believe in constantly taking profits and hedging. I used to swing for the fences a lot more). Lizzie pointed out that NSM laid an egg. See my next post about the FED presidents hinting that rates are going higher - as if anybody doubted. Iran being a whack job. Hurricanes on the way. Lowes laying an egg. Dow Transportations trending down again. Great time to be short. Some shorts are better than others.

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