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Non-Tech : Bill Wexler's Trading Cabana
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To: JSB who wrote (2874)10/1/2007 4:31:04 PM
From: Bill Wexler  Read Replies (4) of 6370
 
The problem as I see it is that there is an inflection point forming, and I was on the wrong side of it.

I failed to see that there were way too many real estate bears who were getting too smug (notice how many news articles and blogs relating to the collapse of the housing bubble there are, many of them crowing about taking short positions in CFC etc.)

Instead of betting against them, I put on the tin-foil-hat and got even MORE bearish. The true contrarian was snapping up these stocks. That doesn't mean that houses and condos go up any time soon, it only signals that the stock markets are already looking years ahead...past this valley...and coming to the realization that the homebuilders and financials are now great values.

Once you subtract the fear and panic, I think CFC goes much higher. I would also be buying CTX...and USG!
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