http://brookesnews.com/080701housingboom.html

“US housing market and recession: Robert Shiller gets it wrong”

I swear that “The Powers That Be” are doing everything they can to let the banks hang by the rope of their own creation.

I like your idea 12500 then maybe a bounce over a couple days back to 12800.
I was thinking maybe a 1370 S&P then a little rebound.

Also, I think the shorts are getting to be such strong holders, that it’s getting hard to get a short covering rally going.

BTW I hope some of you got the earlier message about SBUX…..LOL

Ciao

Ciao
MS

I think we get lower, then bounce back to this level….
We saw some Beautiful pain yesterday and we are almost there today. Finally we convincingly broke support.

Every time you hit support and bounce, everyone calls Double bottom… It’s like all the double top calls that you just hear over and over.

FWLT is down huge.

I don’t want to curse it, but the swing trade I’m in is up 16%

we don’t even pay attention to write downs any more…. Oh! what is another billion among the money center banks. Wake me when it’s huge.

market double bottoms the August lows and “they” take over and push it right back up here 12,600…….

or we get yet another dose of “goldilocks” from (insert any gov’t sponsored agency or cabinet member’s name here).

It might not even hold 12,600 today….we shall see.

Ciao
MS

Are we ever going to know? There are still REO’s that are vacant and not on the market, and there are still banks that are not accepting short sale offers.

Will it take a major lender (ie. CFC) going out of business to finally say, “let’s get these homes off our books once and for all and price these homes so that they sell within 60 days because we are a bank/lender not a freakin’ REIT.”

Almost as if “they” were waiting for that…..

bought it off that pretty hard IMO….what do ya think they do with the November low?? they need to get it back there in a hurry…..LOL

Ciao
MS