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JLS

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Posts 7863
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Alias Born 12/14/2004

JLS

Re: None

Friday, 07/02/2021 8:50:50 PM

Friday, July 02, 2021 8:50:50 PM

Post# of 5495

Back in the chair again ... finally

As an adult I used to stay on a property for 7-years or so then get the itch to move. This last time, I stayed for over 20 years -- it was a gorgeous place with a pond with bass in it, and a short hike from there is a 100-foot waterfall -- then I discovered that the pot-heads In Lake county wanted my property to start a pot farm as California was going to make it legal. But there was a catch, as there was only a few more months left to get a grow permit then there would be no permits available for at least two more years (and, who knows, maybe longer). So what did I do? I put my property up for sale at a price 30% above normal -- the buyers swarmed in like locusts, every one of them looking for a place to crow pot commercially in good ol lake county, CA.

Too bad the first buyer lied about his net worth as he wasted over a hundred days of my time before I could convince my agent (a blonde) that he really didn’t have the money. Finally got ‘er done with a new buyer with money and only a few days left to close.

So now I have a new country place a few miles to the north/west of Healdsburg, and I’ve used up about four months unpacking and shifting things around, and now I’m eager to jump (but will probably creep) back into trading the market as it looks a little pricey to me right now ... :>(

My reasoning?

Check out the charts below. Bull traps probably hurt when they snap shut. Extreme PEs don't last long and the correction can be violent.





Given the current $SPX PE ratios, I'm going to be Vewy Vewy careful jumping back into the market at this time or I could end up like Elmer Fudd.

Elmer Fudd used to say: Be Vewy Quiet, I'm Hunting Wabbits!
https://tinyurl.com/3b6pw6jf

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