traderfromhell Posted June 27, 2006 Report Share Posted June 27, 2006 I could be wrong, but the risk to reward is to the downside here. Back kiss broken trendline. I call this the kiss of death. <{POST_SNAPBACK}> Nice catch. My two favs stalled at Monday's highs. NG and SLW. I doubt we swan dive from here but there should be a good move down over the next couple of weeks. Might pop a little tomorrow first but I wouldn't count on it. Link to comment Share on other sites More sharing options...
traderfromhell Posted June 27, 2006 Report Share Posted June 27, 2006 For anyone who cares Kern is now monster short looking for a good decline now. He thinks we will get a not to be missed move higher after some short term carnage. His crystal ball has been off a bit lately but I agree here. Link to comment Share on other sites More sharing options...
beardrech Posted June 27, 2006 Report Share Posted June 27, 2006 This was found on a RE speculation board: I purchased a home in south Tucson (Vail) through Chris Szabo and closed on it 1 month ago.? The market is flat and there is now competition and plenty of homes for sale in my neighborhood.? I had planned to flip this right away but I have had NO offers and very FEW lookers. I'm feeling seriously burned and need out! Here are the numbers: Payments (all inclusive): $2500/mo first payment due 7/1 Loans (100% financing): $299k Lowest competitor on mkt priced at $298k and not sold. If I COULD sell it at $299 I would lose the RE commissions and closing costs estimated to be about $14K.? Of course, the longer I hold it that $2500/mo starts to really add up.? I want to prevent getting even deeper into this.? I need to either dump this asap and take a sickening loss or...? Should I contact the lender and tell them I can't make payments?? What would foreclosure/ short payoff/ deed in lieu do to my credit? Given the way the market is going(looks flat) is it worth it to try and lease option?? Can you think of any other options? I acknowledge I have made a huge mistake so please no flames.? I know there are great minds on this board so any help would be greatly appreciated. Read the replies here! Some of the suggestions are dubious to the point of being outright fraudulent. The two pages of replies are downright entertaining. <{POST_SNAPBACK}> Lord, can you imagine someone buying a home a month ago (in May) in AZ looking to flip it by July? The rest of that chat board should chip in and buy the guy a newspaper subscription. Seems as if he hasn't been reading the news for the past 8 months. He says he even contacted one of those "We Buy Ugly Houses!" outfits and they said they weren't interested. When the RE vultures take a pass, you know you're in trouble. The vulture companies only like carrion. If there's still a pulse, they won't bite. They wait until the stench is overwhelming. That's when they dig in. <{POST_SNAPBACK}> DMM You're referring to the SQ,the Stench Quotient which is a symbol for the literal,shortly to be sniffed, stench wafting over, heretofor, overpriced stands of decaying real estate- For as the highly pensioned garbage collecting heroes of hyper- and sub-urbiania will begin to get their pink slips, and FBGI NOTICES;and they will then start tripping the light fantastic and gracefully depart. Then will commence the feeble attempts to sequester the Garbage:in holes,in packing cases, midnight dumping,and then, finally, the dark brown clouds of myriad fires,all set as the last resort by desparate and untutored hygeinists. Sometime thereafter, the fires will diminish, and then,merely dim embers finally dissappear, as the last remnants of food packages vanish into history, beyond memory. beardrech This period, once renowned as the 'Age of Everything is Possible" might be terminated and denominated with a new sobriquet:The Age of Garbage Link to comment Share on other sites More sharing options...
GregFokker Posted June 27, 2006 Report Share Posted June 27, 2006 The poor fokker could try to hedge his overweight RE long by going long bond yields (ie by buying IEF puts, shorting IEF or TLT, or shorting a long-bond future or two), or by shorting homebuilders. Or, given that everything trades in lockstep, he could just buy some QQQQ puts off me Too bad he can't write calls every month against his house... or maybe he could, by renting it out. If he can't cover the $2.5K in carrying costs with a straight rental, he could get created and try renting it for parties, or by the hour to desperate housewives, or some such thing. Link to comment Share on other sites More sharing options...
ItCan'tBe Posted June 27, 2006 Report Share Posted June 27, 2006 Hello everyone: Have not made 1 trade now in over 3 weeks. Got a bit tired of dying by a thousand commission cuts. I did not realize that the new ETF'S had arrived. Perfect timing for the Summer rally and Fall bloodbath that I think is gonna happen. But I'm gonna be patient. Link to comment Share on other sites More sharing options...
beardrech Posted June 27, 2006 Report Share Posted June 27, 2006 By the way did anyone happen to view the job interview Hank Paulsied underwent this morning at the Senatorial Zoo??? No? Too Bad, for you would have witnessed another passing segment in an unending parade of would be knight errrants being dubbed by a court of dunce-capped jesters In extenuation of what Im about to say about other people's infirmities I have a learning disabled elder daughter;I am frequently chastised by my wife for encouraging my daughter to be more confident by pointing out political stalwarts,so astonishingly enfeebled that they make her look like a candidate for the Academie Francaise. Instead of appreciating this comparison My Wife insists on calling it an invidious comparison totally unfavorable to my daughter Anyway to shorten this narrative,Paulson reminded me of another boxcar loaded with cliches answering one jester after another-- Clintons collection of dwarves allied to feminine goliaths and other carious affirmativly appointed untermenschen was followed by the cohorts of slavish ministers of the Bush administration . I thought ,just for once,a Giant from G-wiz-Sax would impress me--Instead he became a target of men who could barely read their questions and answered with a stutter than only a seismologist could appreciate I promise you the day will come when a nominee will come to one of these sessions in Zoology wih a conical shaped black hat,tiny bells hanging from the brim and a novelty arrow entering one side of his head and coming out the other beardrech-- Where are my satin slippers? Link to comment Share on other sites More sharing options...
Brisbane Bear Posted June 27, 2006 Report Share Posted June 27, 2006 Mclaren may have been right about the Orbs afterall. Decent selloff in the arvo yesterday and looks like a real spanking this morning. Link to comment Share on other sites More sharing options...
ItCan'tBe Posted June 27, 2006 Report Share Posted June 27, 2006 This was found on a RE speculation board: I purchased a home in south Tucson (Vail) through Chris Szabo and closed on it 1 month ago.? The market is flat and there is now competition and plenty of homes for sale in my neighborhood.? I had planned to flip this right away but I have had NO offers and very FEW lookers. I'm feeling seriously burned and need out! Here are the numbers: Payments (all inclusive): $2500/mo first payment due 7/1 Loans (100% financing): $299k Lowest competitor on mkt priced at $298k and not sold. If I COULD sell it at $299 I would lose the RE commissions and closing costs estimated to be about $14K.? Of course, the longer I hold it that $2500/mo starts to really add up.? I want to prevent getting even deeper into this.? I need to either dump this asap and take a sickening loss or...? Should I contact the lender and tell them I can't make payments?? What would foreclosure/ short payoff/ deed in lieu do to my credit? Given the way the market is going(looks flat) is it worth it to try and lease option?? Can you think of any other options? I acknowledge I have made a huge mistake so please no flames.? I know there are great minds on this board so any help would be greatly appreciated. Read the replies here! Some of the suggestions are dubious to the point of being outright fraudulent. The two pages of replies are downright entertaining. <{POST_SNAPBACK}> that was a great read, thanks! here was my favorite: My advice to you would be next time, consider the possible downside to your greed before you do something stupid like that again. Houses are places for people to live, not a commodity for clowns like to you flip like the burgers you will all be flipping shortly. With that said, my participation in this ridiculous circle jerk is done forever. Hope you all enjoy your debt slavery. <{POST_SNAPBACK}> I particularly liked this one; "Wow. I thought I had it bad. You should have been checking back in on this message board and you would have found out most all of the szabo clients are in the same boat." Who the hell is Szabo?. One of those real estate gurus of flipping your way to paradise? I've said it before and I'll say it again, Winter 2 years from now is gonna be a very good time to buy a very nice home here in So. CA for about 30% less than today. In the meantime, it'll be interesting to watch the shit hit the fan. Link to comment Share on other sites More sharing options...
Guest Posted June 27, 2006 Report Share Posted June 27, 2006 The poor fokker could try to hedge his overweight RE long by going long bond yields (ie by buying IEF puts, shorting IEF or TLT, or shorting a long-bond future or two), or by shorting homebuilders. Or, given that everything trades in lockstep, he could just buy some QQQQ puts off me Too bad he can't write calls every month against his house... or maybe he could, by renting it out. If he can't cover the $2.5K in carrying costs with a straight rental, he could get created and try renting it for parties, or by the hour to desperate housewives, or some such thing. <{POST_SNAPBACK}> he can only rent it for 1,000 so he's 1,500 short per month which is 50 bucks a day maybe he could provide personal services for 50 bucks a throw every day butt that would get old pretty quick and he'd have to keep it up for 30 years Link to comment Share on other sites More sharing options...
Guest Posted June 27, 2006 Report Share Posted June 27, 2006 plus he has to pay maintenance and cover rental gaps and cost of repairs and re-painting and de-fartification after one hole-puncher skips out without paying, before the next hole-puncher comes in and it won't be long before the friendly local aSSessor comes 'round to re-aSSess him in aRears poor baSSturd and it all sounded so easy at the FREE! Ream Estate Wealth Seminar Link to comment Share on other sites More sharing options...
I_Am_Madness Posted June 27, 2006 Report Share Posted June 27, 2006 Is it me or are the charts that we put up not showing up? Link to comment Share on other sites More sharing options...
GregFokker Posted June 27, 2006 Report Share Posted June 27, 2006 I wonder if AZ is one of those single-recourse jurisdickshuns like CA. Here in Kwaybeck, the lender can repo and re-sell the house, and then sue the debtor personally for the balance. ASSeSSed in aREARs indeed. The mrotgouge that never rots. Link to comment Share on other sites More sharing options...
Guest Posted June 27, 2006 Report Share Posted June 27, 2006 The operator of Hardee's and Carl's Jr. unveiled a jumbo-sized cheeseburger smothered in sliced steak. The key strategy is simple: Give people what they want, not what they think is good for them. He pointed out that CKE puts girly salads and limp-wristed low-carb burgers on its menus. "We sell very few of them," he said. CKE's strategy has worked well for shareholders this year, with its stock rising 7.7 percent over the 12 months to close at $16.21 Tuesday on the New York Stock Exchange. Link to comment Share on other sites More sharing options...
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