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IDS World Markets Tues 27th February 07


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Today is markup day, expected some shenanigans

 

Nobody wants to write a letter that contains:

 

"If you take out the last two days we were up for the year buying into higher highs and goldilocks as far as the eye could see. Then we got waylaid by China, India, subprime, housing slowdown. All these complicated things we never saw coming.

 

In response to the recent market meltdown we are enclosing two deposit envelopes.

 

Cluelessly reaching in the dark,

 

Bob

Mutual fraud manager"

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Oh, so that's why stocks recovered.  Another press release from the criminals.  Everyone cheer.

 

__________________________

 

 

http://biz.yahoo.com/ap/070227/economy.html?.v=7

 

Sales of Existing Homes Jump in January

Tuesday February 27, 10:07 am ET

By Martin Crutsinger, AP Economics Writer

Sales of Existing Homes Jump in January, but Median Home Prices Drop for Sixth Straight Month

 

WASHINGTON (AP) -- Sales of existing homes rose in January by the largest amount in two years, raising hopes that the worst of the severe slump in housing may be coming to an end. Median home prices, however, fell for a sixth straight month.

 

The National Association of Realtors reported Tuesday that sales of previously owned homes rose by 3 percent last month, the biggest one-month increase since a 3.3 percent increase in January 2005, a time when housing was roaring toward the peak of its five-year boom.

563219[/snapback]

 

I refuse to believe that. It's simply not possible. Look at the mortgage aps for 30-60 days before. Look at pending home sales (contracts) in November and December-- rock bottom. This is a bogus bullshit number if there ever was one. Absolute nonsense.

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DJ MARKET TALK: Put Options Suddenly Very Popular

 

 

10:29 (Dow Jones) "If you want to buy puts now, you've got a lot of

company," notes Jay Shartsis director of options trading at R.F. Lafferty. The

ratio of put-options to calls traded across all six option exchanges has

jumped to 1.50 - a level "seen very, very rarely," Shartsis says. And it's a

sign of extreme bearishness that could set stocks up for a bounce. "If you go

short into that you are going to lose money," he adds. (MHX)

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DJ MARKET TALK: Put Options Suddenly Very Popular

 

 

10:29 (Dow Jones) "If you want to buy puts now, you've got a lot of

company," notes Jay Shartsis director of options trading at R.F. Lafferty. The

ratio of put-options to calls traded across all six option exchanges has

jumped to 1.50 - a level "seen very, very rarely," Shartsis says. And it's a

sign of extreme bearishness that could set stocks up for a bounce. "If you go

short into that you are going to lose money," he adds. (MHX)

563230[/snapback]

 

Shartsis writes a daily options column on realmonkey.com.

 

After reading his work for quite a while, i'll tell you an easy way to lose money: follow Shartsis' advice.

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