Portfolio Strategy Focus
Editor's Note: Eric Bolling is new to TheStreet.com. A top Wall Street trader and an on-air television personality for the Fox Business Network, Bolling specializes in commodities, technology, resource trades and ETFs. He will provide regular picks in a column for TheStreet.com. Have you been to a baseball game lately? If not, you may get a case of sticker shock. Be prepared. At $65 to $80, those box seats are the most expensive they have ever been. Even a seat all the way out in the bleachers goes for $14! I cannot imagine how much they are going to be next year when the new Yankee Stadium opens. After all, MLB is expected to out-revenue the NFL this year. But the demand for a day at the old ballpark with my son Eric Chase is most definitely worth the extra bucks. Now, guess what would happen if the Yankees discounted all the seats for the heart of the summer season? I'm guessing they might sell every seat of every game. There is already demand for the coveted Yankee seats. So, drop the price and see what happens. They would basically fuel the demand (pun intended) for the seats...any and all seats. Our candidates for President have little, if any, understanding of the simple relationship between supply, demand and price. I love to talk about this on Fox Business because it amazes me that we have three (that's right three) candidates who just don't get the basics of Freshman Econ 101. If I am reluctantly getting used to a $3.50 pump price and all of a sudden I see the price drop 18.4 cents I think I will fill up. I also realize that this tax waiver is only going to be around for the summer, so I will cut back after the summer. Or maybe October... yeah like after Halloween...or maybe right after Thanksgiving...definitely by Christmas...you know its cold then.
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