I’ve written previously about my plan to make easy money buying November 2012 housing contracts by taking advantage of the morbid negativity of those markets.
I started buying at 161, and have had to pony up for margin calls as the price fell. Yesterday, I bought 3 more contracts at 130, and today, the bid is at 130.4. Another turning point, I suspect. I intend to buy more as the market slowly heads back up.
Notice also that Las Vegas is the only contract that is up today. I’ll be the first to admit that 40 cents is not much delta, but if there’s any one motto that underlies Frothing Developer, it’s that today’s trends are much more important than yesterday’s results.