Falling Knives

I am writing to you this morning from my partner's location in Bloomfield Hills, MI. I have been here since Saturday morning and have been busy working filling our orders for the All Star Game and buying and selling tickets. Right now it appears that get-ins for tonights Home Run Derby are going for around $100 and in our opinion very soon to break through that barrier to the downside, and the All Star Game get-ins are getting around $250 and also heading lower. The situation is that there is just more supply here than there is demand or more sellers than buyers. We are unaware of any brokers that still need tickets, so the only buying to hold this market up is retail buying and the retail customers who wait to the last minute are usually not looking to spend a lot of money. When I used to work in the securities industry one of the traders I worked with used to talk about markets like this and say that you would feel tempted to buy into it and take shot but that was like stepping in front of falling knives.

Until tomorrow - Adios!