Originally Posted By: HibsOriginally Posted By: NdIndySoooooo many people are looking at a massive pile of what used to be their life savings, and cussing trump this morning.
Fortunately they still have a giant pile of beenie babies to console them.
What, because the market dropped in one day? You can't be a day by day spectator with the markets, means nothing. It'll rebound and their "massive pile" will still be there.
Noooo, the people that over the last several years have dumped their bank accounts into overpriced .22lr with the expectation that it will be worth a bajillion dollars tomorrow.
It does work if things fall into place. When the first clinton ban went into effect I sold my high cap glock mags for $100 each. Because they were never going to exist again and would be worth a bajillion dollars. After that passed, I bought them all back for $10. Not each. $10.
Ammo is the same thing. Short term, buy up stock and wait for the market to drain, then resell for a profit. But there are still people who have been waiting in line for hours every tuesday, spend every penny they can on the .22, buy it massively overpriced thinking it doesn't matter because of profit, and think of all the $$$ they're sitting on instead of eating.
But, without a ban, you've got nothing but scared that causes the shortage. That runs out. I haven't been to a gun show in a while but every one before then I found $15 boxes of .22 marked up to $150. Well $150 after you wiped away enough of the dust to read it. And then I got to listen to them complain that no one was buying it. The hoarders were basically selling to other hoarders and around and around it went.
Once they want their money back they'll sell at a loss, which is when you want to buy. You just had/have to be patient and you'll get deals.
ar15's were the same way after O got in. A $500 OLY would go all day every day for 2 to 3 times value. After that passed you could buy GOOD guns, never fired, for 200-300. One of the auctions I was at had over 150 AR's coming up, all from a speculator as above. After the first 3 sold for less than $300 each, brand new in box, they quit bringing them to the table at all. It would take the auctioneer 2-3 minutes to get down low enough to get 1 bid. I ended up at the same table as the seller and got a blow by blow of his entire life savings going to nothing.
It was sad.