Buying Opportunity

With the NY Times article today, and the sudden plunge in the value of the L$, if anyone has been considering getting into the land speculation game, now would be the time. You can get your L$ for cheap, and land's priced pretty reasonably too. A large influx of new SL residents might drive the price of both back up quickly.

That ain't my cup of tea... but who knows? You too could be the next land reseller that gets skewered in the forums, while taking all your money to the bank.

- Ace

Ace, we all know that you are speculating at GOM. You need somebody buy your L$, huh?

I don't speculate, I trade. By that, I mean that I don't care which way the L$ goes. I buy on the Wanted side, and sell on the For Sale side. I eek out tiny profits with each transaction, but I do it over and over again. US$0.40 might not sound like a lot of profit, but if you do it often enough, it adds up.

I have to admit that I got caught a bit with my pants down with this latest slide, having more L$ than US$ at the time, but I'm in good shape.

I don't care which way the L$ goes. What I want is a wide spread between the buy side and the sell side.

- Ace

What will you do if this slide continue? And continue? And continue even more? Will you sell the L$ at loss value?

Sure, I'd sell them. I'd sell them, and then buy them back at an even lower price.

Buying low, selling high can also be done the other way around. That is, sell high, and then buy low. Margin is margin in either direction.

- Ace

Somebody just took my advice. Over US$2000 just got parked on the Wanted side at 3.70.

- Ace

Saw that... who knows if it is a temporary stop on the way down or the beginning of a new uptrend..

Seems most of those 2000$ are gone again and pressure on selling side remain almost unchanged

Ace, what can you offer me for, say, 1 million L$? I am tired of trying sell off little by little only to get constantly underbid.