capitall Posted June 16, 2009 Report Share Posted June 16, 2009 Take it away, folks! Link to comment Share on other sites More sharing options...
shorty Posted June 16, 2009 Report Share Posted June 16, 2009 Second-Half Recovery Is "Nonsensical": Economy Still Descending, Ritholtz Says Wednesday's report of a 17% monthly rise in housing starts made for some dramatic headlines, but don't confuse that with an actual recovery, says Barry Ritholtz, CEO of Fusion IQ and author of Bailout Nation. "Housing Starts did not ‘soar' as Bloomberg claimed; you soar high in the sky, and a move from ankle to knee level does not qualify." Link to comment Share on other sites More sharing options...
shorty Posted June 16, 2009 Report Share Posted June 16, 2009 Stocks Cheap? Don't Be a Fool Fund manager John Hussman looks at stock valuations a few different ways and comes to the same conclusion we have: They're not cheap. In fact, Hussman actually thinks they're moderately overvalued. This doesn't mean the market will crash, although Hussman thinks there's a reasonable chance that it will. It just means that this isn't the opportunity of a lifetime so many idiots keep crowing about on TV. Link to comment Share on other sites More sharing options...
shorty Posted June 16, 2009 Report Share Posted June 16, 2009 we lost six million jobs gov't claims it will now magically create six hundred thousand jobs out of thin air even if it does, that leaves five million and four hundred thousand families with NO INCOME they call that a recovery? the denial of reality is stupendous Link to comment Share on other sites More sharing options...
Bungster Posted June 16, 2009 Report Share Posted June 16, 2009 Bear showing Cramer some McLuvin..... Link to comment Share on other sites More sharing options...
Bungster Posted June 16, 2009 Report Share Posted June 16, 2009 Linda Blair has got some green shoots fer ya Shorty! Link to comment Share on other sites More sharing options...
shorty Posted June 16, 2009 Report Share Posted June 16, 2009 Linda Blair has got some green shoots fer ya Shorty! Roubini sees weeds amid green shoots Nouriel Roubini, who rose to prominence for predicting the global credit crisis, tore down the "green shoots" theory that a rebound is imminent, saying there was a significant risk of a "double-dip" recession where the economy expands slightly only to begin contracting again. "In addition to green shoots there are also yellow weeds," he told the Reuters Investment Outlook Summit in New York. He pointed to the growing divergence between the false hope of business sentiment surveys, which have been improving in recent months, and the reality of industrial production, which is down sharply and receded another 1.1 percent in May. Link to comment Share on other sites More sharing options...
DrStool Posted June 16, 2009 Report Share Posted June 16, 2009 The Luxury of a Perfect Entry – Professional Edition by Lee Adler, Tuesday, June 16, 2009, in Professional Edition, Today's Markets | Permalink |Comments (0) Edit It may be time to begin shorting more aggressively, although it would be nice to have a bounce to short into. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information. Link to comment Share on other sites More sharing options...
BusKow Posted June 16, 2009 Report Share Posted June 16, 2009 Got through the first step and close just below the next minor support...the lower line of the recent secondary channel is ~8500 tomale' Link to comment Share on other sites More sharing options...
joe3pack Posted June 16, 2009 Report Share Posted June 16, 2009 Link to comment Share on other sites More sharing options...
Bungster Posted June 16, 2009 Report Share Posted June 16, 2009 Agreed! Not at all displeasing... Link to comment Share on other sites More sharing options...
Dr.Correll Posted June 16, 2009 Report Share Posted June 16, 2009 Here are a few things to lead me to believe that there is a place were there is no recession: Gainesville, FL 1. I work for Publix Supermarkets, and during the summer when students are away and families are on vacation we tend to have slower business and hours are cut for part-timers. Well I have been keeping an eye on our forecast and previous years sales. We are beating those numbers by 2,500-6,000 in sales a day. A normal week last summer was in the 480,000 range. The last few weeks have been 520,000+. There are 13 Publix' in Gainesville. I see the consumer, and they are not letting up on the spending by any means. Plenty of grocery orders north of 250.00 all day long. 2. My friend and I have been looking into purchasing a house to avoid wasting all this money on rent.($500/mnth)each. My friends father said he would like to buy a house since he will have 2 boys going to school here for 4 years. We figured with taxes and all around 1,100 was the highest we wanted a month, and thats what he could comfortably afford after we all move on in 4-5 years. He pays 600mnth, and we split the other 500-600 3 ways. We located a few homes, and finally decided to make an offer on one. 3/1 with 1300 heated sqft. Listed at 138,000. Made an offer of 132,500, and they countered back 136,500. Its unreal when you can get a better amount off of a car than a home. The RE market here is unreal. Down close to the University they are getting $1k/mnth for a 1br/1ba. Link to comment Share on other sites More sharing options...
joe3pack Posted June 17, 2009 Report Share Posted June 17, 2009 Agreed! Not at all displeasing... may a relatively lengthy spell of whackage begin. i smell hamburger in the air. . . . Link to comment Share on other sites More sharing options...
bundys_dodge Posted June 17, 2009 Report Share Posted June 17, 2009 Oh my... who do we have reporting their yearnings on Thursday evening, on the eve of triple/quadruple witching OPEX... who else but one of Cramer's Four Horsemen - RIMM !!! I guess the results can be used for the "Scaled Dog" TM Shorty runoff in either direction. Link to comment Share on other sites More sharing options...
psyche doctor Posted June 17, 2009 Report Share Posted June 17, 2009 Here are a few things to lead me to believe that there is a place were there is no recession: Gainesville, FL 1. I work for Publix Supermarkets, and during the summer when students are away and families are on vacation we tend to have slower business and hours are cut for part-timers. Well I have been keeping an eye on our forecast and previous years sales. We are beating those numbers by 2,500-6,000 in sales a day. A normal week last summer was in the 480,000 range. The last few weeks have been 520,000+. There are 13 Publix' in Gainesville. I see the consumer, and they are not letting up on the spending by any means. Plenty of grocery orders north of 250.00 all day long. 2. My friend and I have been looking into purchasing a house to avoid wasting all this money on rent.($500/mnth)each. My friends father said he would like to buy a house since he will have 2 boys going to school here for 4 years. We figured with taxes and all around 1,100 was the highest we wanted a month, and thats what he could comfortably afford after we all move on in 4-5 years. He pays 600mnth, and we split the other 500-600 3 ways. We located a few homes, and finally decided to make an offer on one. 3/1 with 1300 heated sqft. Listed at 138,000. Made an offer of 132,500, and they countered back 136,500. Its unreal when you can get a better amount off of a car than a home. The RE market here is unreal. Down close to the University they are getting $1k/mnth for a 1br/1ba. I am a former builder in northwest Ohio. Housing prices around here have fallen, but only moderately, especially when compared to other areas of the United States. However, housing in this area never experienced the steroid appreciation that places like Kali did, either. New construction here has held up relatively well with old construction experiencing more depreciation. I guess, when considering real estate, the old maxim that location, location, location still holds true. I am not familiar with the Gainesville area, but I doubt you could accurately gauge the state of the local economy from super market sales. Maybe you are right in your assessment, but you may want to pay more attention to shorty's posts, as they suggest otherwise. One of the reasons I got out of building other than to devote more time to trading, was the fact that people seem to want everything for nothing and, lately, that especially holds true for housing. How do you know what that property is really worth? Have they already lowered the listing price? Because the economy is in the tank and it's a "buyer's market," somebody should take a hit or give something away so you can get a deal. Now, forgive me if it sounds like I am venting on you. Maybe the house you were looking at isn't worth your original offer. Recently, I just sold a home, the last one that I built, after sitting on it for more than a year. I gave that house away. I had previous offers and interest from other prospective buyers and it was all the same, gimme, gimme, gimme. Not only did they want the house at deep discount, some wanted all closing costs paid for and other concessions and upgrades. One even wanted an olympic weight bench and some tools that were being stored in the garage thrown in with the deal. They did this because of the belief that all builder's or sellers are desperate and the buyer has them firmly bent over a table with bare ass exposed. I eventually sold the house to a young couple. They got a really good deal. I could of held out longer and maybe got a better price, but, at this point, I just wanted it gone. A builder friend of mine just sold a property that he had been sitting on for nearly two years. He owned it outright, so there was no note running on it, and he is a stubborn mule. He had several ridiculous low-ball offers over the course. One was a written offer. He photocopied his middle finger on it and faxed it back to the realtor. Anyway, eventually he got what he wanted out of it. Me, on the other hand, I just wanted out of the industry, period! I just had to get that off my chest; I feel better now. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.