The Futures Market Turns Up in Las Vegas

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.

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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.

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3 Responses to The Futures Market Turns Up in Las Vegas

  1. Alex,
    I’d like to hear your thoughts on Harvard’s State of the Nation’s Housing 2008 report. (http://www.jchs.harvard.edu/publications/markets/son2008/index.htm)
    It really doesn’t give clear direction. Although it does remind us of the 14 million echo-boomers approaching household formation age in the next 10 years.
    Thanks for the great blogging.
    -Paul

  2. […] Futures Still Going Up. Chortle Long-time readers (heh) will recall that Frothing Developer has put its money where its mouth is and bet big on Las Vegas in the housing futures market. […]

  3. […] read the sage of Frothing Developer’s commodity bets on Las Vegas, start here, then go here and here. Possibly related posts: (automatically generated)Futures Still Going Up. ChortleWelcome […]

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