bubbadropping Posted May 11, 2005 Report Share Posted May 11, 2005 Not to get technical but the main reason real estate will implode is simply because most of the herd is in by now, the A.M. sports talk radio shows are flooded with noisy and obnoxious lending adds and the Market is parabolic. The reasons are forensic in nature. What goes up that far,that fast and has garned mass worship will ofcourse inevitably crash. No regarding the Steve McQueen witnessed today. Could it be just another shake in the momentum game formerly known as options expiration week? OR could it be the momentum reversal I thought we were witnessing from the selling yesterday? Tommorrow will tell. If I am up and if I note alot of nonsensical bullhorning it is an indication that Racketeers are wanting it long thru until next Tuesday or so as part of a shake and bake 10 days out from OE. Timing is all. I may have mistook the selling on Tuesday for the momentum reversal but today's action may have been the real reversal. I'll watch for clues tommorrow. I despise these criminals. United Airlines gets bailed out by the government. They walk away from their obligations to pensioners. The crypto-facists in power turn around and are lining up cells in debtor prisons for people who will be falling into bankruptcy. All of it like a bad dream no one could have beleived possible 5 years ago. Capitalism might be worth a try if someone would give it a shot. State sponsored welfare capitalism will give rebirth to a kind of mideival feudalism with ever increasing disparity between the rich and poor. I think I will take myself out now for a 2nd viewing of "Kingdom of Heaven". The best anti-war flick I have seen since "Platoon". Certainly it flew right over the head of many critics but then the golden era of movie criticism died with the retirement of Pauline Kael many years ago. best,buddha Link to comment Share on other sites More sharing options...
wndysrf Posted May 12, 2005 Report Share Posted May 12, 2005 SSRI on a giant launch pad. To quote William Shatner: "Its going to be big! Really big!" Link to comment Share on other sites More sharing options...
Brisbane Bear Posted May 12, 2005 Report Share Posted May 12, 2005 the sense of frustration amongst bears is palatable at the moment,myself included.This Chinese water torture is unbearable.It is probably a good sign.It feels so close in OZ that I can nearly touch it,yet at times it seems further away than ever.We are fighting very powerful people and a system that favours the bulls,but we knew that going in,its just hard to take at times. We have a Treasurer in OZ who wants to be Prime Minister,he lags badly in the polls,so what does he do....massive tax cuts for all and sundry....10 years of fiscal responsibilty tossed out overnight....this doesn't happen 6 months after winning an election....this is the sort of budget one brings down to win elections....crazy effing times we live in....it should put enormous upward pressure on interest rates...nothing for nothing Mr Treasurer....maybe it is something as small as personal ambition on behalf of the Treasurer or Hubris on behalf of the Prime Minister that becomes the straw that finally breaks the bulls back....be poetic if it was. Link to comment Share on other sites More sharing options...
Guest Posted May 12, 2005 Report Share Posted May 12, 2005 looks like tomorrow's script will be "Stocks Rally as Crude Oil Falls Below Key $50 Level" they continue to walk crude down in the night session guess I'll just have to DONG what the hill, maybe sell a fresh batch of naked Greenspan puts Al will protect me can't beat'em, join'em the pre-market magical flip from red to green this morning was bad enough but the classic mid-day bear suck-in and backdoor Olympiad was the last straw for me if they want so badly to prop up stock prices, I'm gonna get my share no need to get angry about it I guess.........just unzip and join in up good, down bad pretty simple Link to comment Share on other sites More sharing options...
astral mike Posted May 12, 2005 Report Share Posted May 12, 2005 this is one of the most bearish A.H charts i've seem for OIL. recently they have been slaping it about during the day session, only to see a surprise pop just before the close. looks like longs want out, if so a selling climax is overdue.... bullish for stocks i guess in the short term, but if this is due to todays dollar strengh then it wont last too long. after all, there seems to be a divergence in gold/oil. IMO gold leads oil. Ultimately US stocks need a weak dollar to keep the illusion of a "bull market". "catch 22" comes to mind... Link to comment Share on other sites More sharing options...
Guest Posted May 12, 2005 Report Share Posted May 12, 2005 INTERVIEW-White House wants oil price at $25 a barrel WASHINGTON, May 11 (Reuters) - The White House wants to see oil prices fall by about half to around $25 a barrel although reaching that goal may take time, President George W. Bush's top economic adviser said on Wednesday. "We would like to see the price get back to around $25 a barrel, somewhere around there," Allan Hubbard, director of the White House National Economic Council, said in an interview with Reuters as crude oil prices hovered around $50, down from the record-high above $58. Hubbard acknowledged: "It's going to take a while for the world energy supply to expand so prices can drop." The administration has shied away in the past from giving a preferred target for oil prices. Link to comment Share on other sites More sharing options...
Guest Posted May 12, 2005 Report Share Posted May 12, 2005 night session June Crude 50.04 -0.41 Link to comment Share on other sites More sharing options...
BeerMarket Posted May 12, 2005 Report Share Posted May 12, 2005 night session June Crude 50.04 -0.41 <{POST_SNAPBACK}> they only have to do that 61 more times. piece of cake. Link to comment Share on other sites More sharing options...
Metamucil Posted May 12, 2005 Report Share Posted May 12, 2005 Looks pretty bearish to me....still short. Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 12, 2005 Report Share Posted May 12, 2005 Silver in an extremely precarious situation here..let's see if they can save it..or it does a STRA..shouldn't be too much longer until we find out... Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 12, 2005 Report Share Posted May 12, 2005 According to a posting I just read over on PrudentBear, in the first two months of this year 87% of SF bay area housing was purchased using ARMS, and in 2004, 48% of all CA housing was purchased with an interest only loan. http://www.prudentbear.com/bearschat/bbs_r...&snsa=A#M276217 The problem is that we'll have to wait a few years for a housing crash due to people forced to sell because they cannot afford the monthly payment. 2009-2010ish if people really started to use the interest only loans last year. <{POST_SNAPBACK}> Plus, a lotta folks have HELOCs that they picked up around 4%..they are now paying around 6%..that's a 50% increase...DOH! Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 12, 2005 Report Share Posted May 12, 2005 Hmmmmm...... so turns out that the home bubble, indirectly, is resulting in maSSive property tax "revenue" increases as the Homes are flipped to new Owners I wonder if gov't planned it that way eager Home buyers desperate to get in on the pyramid scheme, willing to cough up heavy taxes without a struggle brilliant <{POST_SNAPBACK}> SFSOS.ORG "The City Controller's office has released a report counting $106.5 million in real estate transfer taxes, $43 million beyond what anal cysts had forecast. According to Controller Ed Harrington, this is the highest take ever. And why wouldn't it be, with median home prices spiking nearly 27% to $710,000? San Francisco homeowners are cashing in, yet apparently not to the demand of people who still want to buy a home and live here." <{POST_SNAPBACK}> And you can bet that they'll now adjust their revenue budgets higher...just like they did with the capitals gains in 1999.....and they'll spend every last penny... Did I mention that this is going to end very badly? Link to comment Share on other sites More sharing options...
ConfusedAssRev1 Posted May 12, 2005 Report Share Posted May 12, 2005 Silver in an extremely precarious situation here..let's see if they can save it..or it does a SRTRA..shouldn't be too much longer until we find out... <{POST_SNAPBACK}> K Wave --- Oil, Gold ?? TIA Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 12, 2005 Report Share Posted May 12, 2005 Gold not lookin' so spunky either..needs a looong green candle soon..udderwise the long red one looms..again should not have to wait much longer... Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 12, 2005 Report Share Posted May 12, 2005 120 min gold looks even worse at this juncture...bumped it's head all along the top of the ribbon while things started to roll over..need above 435 for all clear...in the mean time, the setup is ripe for a large drop ..gold bulls need a long green candle, and they need it PDQ... Link to comment Share on other sites More sharing options...
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