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Ric.. read my posts.... the
discussion was in ref to the bank starting bidding with a min bid
and the winner of the house went to the highest bidder........... that's how it
works.. What's your point?
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
ric
ingram
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, November 09, 2001 2:56
PM
Subject: [RT] Auctions
Dorothy,At Date: Fri, 9 Nov 2001 10:34:26
-0500 From: "Dorothy K. Carter" <<A
href="mailto:dorothy.carter@xxxxxxxx";>dorothy.carter@xxxxxxxx>
Subject: Re: DebtThe 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.<A
href="http://www.traderscalm.com/"; eudora="autourl">www.traderscalm.com
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