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Dorothy,
At Date: Fri, 9 Nov 2001 10:34:26 -0500
From: "Dorothy K. Carter" <dorothy.carter@xxxxxxxx>
Subject: Re: Debt
The banks have insurance that covers their you know what.. so they just
want
to peddle it and get it off their books... so part will be the value of
realestate going down part will be the banks just want to get rid of
it.....
.. auctions ... highest bidder wins....
"Highest bidder wins" is a common enough phrase for an auction
- but a perhaps a sloppy use of English.
I attend at lest two antique/bric-a-brac auctions a week - nothing to do
with trading stocks of futures you think? The highest bidder
sometimes obtains the 'lot' - but not if the reserve is higher.
And the highest bidder sometimes loses - he or she paid more than anyone
else and cannot find anyone to buy it at a still higher
price. I can think of one fellow dealer who often pays more
than most other dealers are prepared to pay - she thinks she is so clever
- I heard her boasting to one that she 'won' almost all the lots she bid
for.
Ring any bells from trading viewpoint. The jump on the trend
guys and gals often find themselves in this sort of trouble.
In fact from a day trading perspective, in a generally rising market, it
is quite common for more than half the contracts/shares to be purchased
above the closing price.
Market makers have to make a living too.
So the highest bidder often loses again. English is a
strange language.
Trading with good feelings, Ric.
www.traderscalm.com
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