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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (260179)	7/12/2010 3:39:49 PM
From: TH	Respond to of 306849

SK, Ok. Yea, volatility is my friend. I love that stuff. And more is coming. Here is a conversation I just had with a buddy who is NOT a trader. I bet he has never paid anything but long term gain tax his entire life. But, he has a good nose for value and does well. Yea, yea, I play little games, but I like to find out what people are really thinking without me leading them down a path <g> Buddy: This market is bullshit right? Me: I don't know what you mean. B: This market should be crashed on the news. Me: What news? B: WTF, you know what I'm talking about. Every bit of news for the past two months is bad. Consumer credit went down the tubes. Me: Well, the market is up, and that is news. B: You're Fxxxxxx with me. Me: Yes. Anyway, this "retail" investor is not buying it. He is holding 5 long positions. A couple of them were pretty large. I was actually surprised how large they are. I did not give him advice, but I did point out that he had a really nice gain on Ford. He has now gone away to sulk, but I bet he dumps in the next week. This "retail" guy thinks this market is fraud. He does not understand how we are not going down, and this is interesting, he does NOT want it to go down. He has five long positions. He is clearly concerned. I wonder why. GT TH