urbandreamer
recession proof
^I am not an investor; I trade stocks daily.
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A Bank Bet on Condos, but Buyers Want Out
- Thread starter vultur
- Start date
cdr108
Senior Member
^^^
What's your opinion on the recent market run-up?
I'm thinking another minor pop up to 7,700-7,800 (DOW) then it waffles for a bit.
The markets seemed to like the Feds decision to buy $300 billion in Treasuries but I think that may be short lived. The way I look at it, the Fed must be more worried about the economy than intially in January 2009 to take this drastic measure.
Also, a new wave of possible foreclosures could be coming with ARMs from 5 years ago coming due to reset to the new higher rate that was originally negotiated.
However, the caveat are the gov't/bank proposal to reduce the mortgage principal and rates ... will that be enough to keep people in their homes vs. walking away even though they may still be underwater?
What's your opinion on the recent market run-up?
I'm thinking another minor pop up to 7,700-7,800 (DOW) then it waffles for a bit.
The markets seemed to like the Feds decision to buy $300 billion in Treasuries but I think that may be short lived. The way I look at it, the Fed must be more worried about the economy than intially in January 2009 to take this drastic measure.
Also, a new wave of possible foreclosures could be coming with ARMs from 5 years ago coming due to reset to the new higher rate that was originally negotiated.
However, the caveat are the gov't/bank proposal to reduce the mortgage principal and rates ... will that be enough to keep people in their homes vs. walking away even though they may still be underwater?
urbandreamer
recession proof
Yeah, 7700 possible (50MA) but I think it may fall to the 7000 range short term, but hang around the 7-7500 area for a bit....
Therion
Senior Member
.... and that's why god invented protective stops. I don't think anyone in 2007 (except Peter Schiff, Nouriel Roubini, Garth Turner, Karl Denninger, Tim Knight etc.) knew the housing market will crash to the extent it has. Wait, did I just disprove my own point?