Fear is a flying and that's what bottoms are made of. The dollar is holding up and every entity is getting on the same page. If they separate the bad debt out, the sovereign funds will put money into our system also. It is in their best interest as well to get us over this. In doing so, they will make investments into our blue chip institutions. The government is to form an entity, maybe not an RTC, but some kind of holder for the bad paper, to resolve the unknown evaluations of asset.
So if you wanted to feel the bottom, touch it maybe we are there. What do you think?
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The markets sure loved the news. I saw Wachovia was up 5 points or close to 60 percent of the day ! I was thinking about going long into this stock but did not. Homebuilders were up big today too ! Was impressive... thinking a lot of it though was short covering. What do you think ?
Christopher and Stephanie:
Yes a lot of short covering, but I'm thinking all the money into the system. If they pull the bad debt out new money flows in. Mortgages rates will come down!
We can't get afraid, this may be a great real estate bottom!
Real Estate!
This morning 9/19/08 it even seems very possible.
Lets have some fun now!
Richard