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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: gregewing who wrote (4696)	7/13/2005 6:52:00 PM
From: Paul Kern	Read Replies (1) \| Respond to of 13449

I'll add yours to my master portfolio. As to when,I don't know. I've been watching and waiting for about a year but I'm also the guy who called seven of the last two recessions. In April, we sold a four-family property near New York and similar properties in the area haven't been selling for more than we received. Some owners are asking crazy prices and not getting any offers. There is one around the corner, a corner building with three apartments, two garages and a commercial unit in similar condition where the asking price is 30 per cent more than we received that's been sitting on the market for more than a year. Condos in the area that drew for or five offers over the asking price in one open house last year are taking weeks or months to sell now. Of course, this is all anecdotal and not very scientific. It may be time to look for cheap LEAP puts, say Jan., 07 to sit on -- especially if your long the stocks or the ETF. Paul