wndysrf Posted November 7, 2003 Author Report Share Posted November 7, 2003 Check out FAR OUTS close ( FAR ). A breathless hot pick given to me at 10 am as it was hitting 30. That thing fell faster than a china mans pants surfing porn sites on SINA into the close. Here's a picture. Down again AH. Link to comment Share on other sites More sharing options...
wndysrf Posted November 7, 2003 Author Report Share Posted November 7, 2003 Other than watching AMAT, here are the key Bubble Indexes: Housing Retail Finance 2 out of 3 broke to the downside today. Hardest hit was the Homebubblers. Link to comment Share on other sites More sharing options...
wndysrf Posted November 7, 2003 Author Report Share Posted November 7, 2003 Party Hat. Party over on Monday? Link to comment Share on other sites More sharing options...
wndysrf Posted November 7, 2003 Author Report Share Posted November 7, 2003 Lenders of Last Resort Link to comment Share on other sites More sharing options...
summoner Posted November 7, 2003 Report Share Posted November 7, 2003 WOOOWWWWZAAAAAA Reloaded all putz at the gap open.... Sil smoking.... Planning on reviewing a few dozen charts this weekend.... TRADE SAFE Link to comment Share on other sites More sharing options...
Jimi Posted November 7, 2003 Report Share Posted November 7, 2003 in certain areas people are jamming into real estate likes its the last bus of the night outta the bad part of town. in more than a few instances, cap rates below mortgage rates and properties are selling super fast. as one "player" told me, "its the only thing left." having seen folks from 1989 ony recently getting made "whole", the next decade could be very interesting. if the market weakens and the economy falters, can we look for the FED to jam rates low via all means possible to ignite at least one more refi liquidity blast and support real estate values. values are moving so fast here, i can understand people why people get sucked in as they face the prospect of perhaps never being able to afford to buy a home in socal. kinda SCARY Pee, My wife came home yesterday with a story from a coworker. Her husband's been unemployed for ~2 years. She does basic research... maybe $45K/year. They own a townhouse--not wure when they bought--that they think is now up about $100,000. So, they're going to pull out the $100K they've "made" on the first place, buy a second hom, move into it, and rent out the first, which they're just sure can bring them in $1700/month. My wife just kept saying, "Uh-huh... uh-huh... that's nice... uh-huh." She & I have both given up on recommending anything to anyone. It's not enough to be leveraged in 'merica. It's not enough to live beyond one's means. And it's not enough for people to pause and think, "Gee... we have a one-income household not by choice. That suggests something... maybe we should get rich in real estate?" You now have to extend yourself into two properties to keep up with the friggin' Joneses. I suggested to my wife that instead of simply saying, "Uh-huh" to her coworker, she should have asked whether she or her husband would be stuck being upside down in the townhouse when their wreckless approach to personal finances resulted in the inevitable divorce down the road. Friggin' madness here in SoCal. Link to comment Share on other sites More sharing options...
Ags Nightmare Posted November 7, 2003 Report Share Posted November 7, 2003 Friggin' madness here in SoCal. Thats right out of the Carlton Sheethebed no money down infomercial. I don't know how people do it. I'm always what iffing stuff before I make choices and ran across a similar expeirence with a couple of freinds in their 20's who just got into a 400k home on a 300k 5 year ARM at 3 %. So before he bought I what iffed him and got an earfull. They sold a beautiful townhome also to get this place as well. So after they close they then proceeded to buy a big screen TV, throw out perfectly good living room furniture for a new set of leather couches, put on a huge deck, leased an acura and and new accord, landscaped the property fully and the dude bought a motor cycle when my brother in law was in from California over the summer cause he turned him on to riding and got him into a Honda showroom. The wife teaches karate part time and the guy was selling light bulbs two years and became a mortgage broker right at the height of the euphoria. He was processing about seven loans a week a lot of em who were serial refinancers. Now I don't know what he makes and I know they don't come from wealthy families but I think that just shows you how much leverage there is out there today and how easy it is to get. Link to comment Share on other sites More sharing options...
agent.5 Posted November 7, 2003 Report Share Posted November 7, 2003 Now I don't know what he makes and I know they don't come from wealthy families but I think that just shows you how much leverage there is out there today and how easy it is to get. I think a lot of loans are based on "stated" income. In essence, you can just make up a number and pretty much get however big an amount that you want. Recently, I applied for a credit card at Amazon, so I can get a $20 discount coupon, Bank One called and said that my credit limit is $19,000 and if I liked a balance transfer or a check for the "available cash." I told her "No Thanks." It is freaking unbelievable. Link to comment Share on other sites More sharing options...
brian4 Posted November 7, 2003 Report Share Posted November 7, 2003 Zippety doo dah, zippity eh-well it was "a beautiful day" was it not. I rode the futures Short from the top to the bottom and closed 1 point off the ES low of the day. This rally is TOAST folks they sold the piss out of it after the close and during the day as Ned pointed out. You know market timers have their hot streaks and then their cold streaks what sets the great ones apart from the herd is their ability to call the BIG turns. On Oct.27th I posted the following quote by Bob Prechter from his "Theorist" published that day "This rally should end no later than November 7th and no higher than 10,116 intra day-ideally it would peak a few percent below the maximum allowed." I ended the post by saying "will he be right!" well he was and boy was he due. At the mo 60 of the top 100 on the Island are getting whacked and the SELLING both during and after the close tells me Da Boyz know it's over as well-I'm sure the report will show the Commercials have flipped heavily to the short side. I got a garbled, angry, manic pm from Tonto aka Stryker which i think AG also referred to what happened or why I don't care about-what i don't understand is why the ANGER thing has been so prevalent lately-trading losses?? who knows. Still short Dec. Spoo's and long Gold and Oil and NG. Trade Safe! Link to comment Share on other sites More sharing options...
GTNWORSE Posted November 7, 2003 Report Share Posted November 7, 2003 Hey Guys, I smell something in the air, and it just may be that CIT that oh so many of us have been waiting for. Not gonna jump in yet, or with both feet when I do, but looking for confirmation next week. Current holdings: BGO, CDE, IVAN, LU, RAD, RBAK(I know I know), STHBX, NBHIX, and lots of liquid green stuff to go short with!! Be well Link to comment Share on other sites More sharing options...
GTNWORSE Posted November 7, 2003 Report Share Posted November 7, 2003 Is that you out there Piles, or just a figment of my imagination? C'mon back, the waters just gettin warm. Link to comment Share on other sites More sharing options...
Guest Posted November 7, 2003 Report Share Posted November 7, 2003 Real estate appears to have gone into a lull here on the west coast of Oz. A few months ago I would answer the doorbell to find a RE rep on his/her knees on the doormat begging me to sell and even the phone calls/free valuations have dried up. Also charts of the building materials suppliers have swung into downtrend so I'm thinking we might be on the southbound trail. ------- With all these big economic numbers coming out in the US maybe the Fed doing a bit of massaging to justify a rate rise? Link to comment Share on other sites More sharing options...
agent.5 Posted November 7, 2003 Report Share Posted November 7, 2003 Is that you out there Piles, or just a figment of my imagination? C'mon back, the waters just gettin warm. Yes, we do need PD here, especially the portfolio to hold for the Matrix Collapse. Link to comment Share on other sites More sharing options...
Butterfield 8 Posted November 7, 2003 Report Share Posted November 7, 2003 AB just posted this on stool's gold. Fraud watchers "pluvia" all over IVAN http://www.siliconinvestor.com/stocktalk/m...?msgid=19476469 Link to comment Share on other sites More sharing options...
bubbadropping Posted November 7, 2003 Report Share Posted November 7, 2003 Something is amiss, don't know what but something. Greenspan frontruns the insider news on the employment report today with his appearance and prediction yesterday. An ugly,old diabolical criminal with an insatiable thirst for power. Sad,pathetic,prostate- challenged Monkey. Hopefully we will cruise into a surprise storm that leavens this piece of mouse turd and sucks the yeast right out of the 'Giant Fece Formerly Known As Wall Street'. Reading Adam Hamilton lately again. Valuations ofcourse are far too high to sustain a new bull market and were far too high to begin with last March when this war run started. Now the Vix readings indicate the classic complacency of a top in a bear market rally. I'll admit I am very shy of trading against Mr Magoo. He is far too hideous a spectre. Like a comic villian straight out of BatMan. I will no doubt miss any further runup in the indexes. Its 'Road Warrior' time now. All parts super octane. The Mohawk Man has just landed bare assed on the roof of my bored out 78' Camaro and is swinging a chrome muffler pipe down thru my front windshield. Something foul is afoot. All significant Wall Stuck movement is off insider news. Even that ahole Poindexter knew this. I smell a rat. best to all riverboaters, buddha Link to comment Share on other sites More sharing options...
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