Last update we said
March crude Oil, we missed our buy at $39.00 by .10. We wait till the next calling.
Well we got them at 39.00 last week and they to $42.65 and are back in the mid 39's. We will sell them at $43.50 . We will also put in a order to buy a second unit of march futures at $37.00 CLH09.
SPH09 or ESH09 stock index futures. We are flat. Although we might have finish the upward corrective wave already, I will take a conservative stance and sell short the first unit of ESH09 at 885.00. This the March E-mini future and a second order on unit 2 for 900 even.
Treasury 10 Year Notes, We are flat. I am shifting my attention to the 30 year treasury. USH09 march future. We will buy one unit at 125 16/32nds. order to buy a second at 123.00
Real Estate Markets, I feel the market wants to go. The leaks of the proposals for special mortgage products for home buyers has hurt the market short term. Many buyers are waiting to see what it is, especially the first time buyers. I think the money coming into the market from the government for mortgage bonds and agency paper is starting to be felt. It should be understood, it is just the tip of the iceberg so far. The TALF -Term Asset-Backed Securities Lending Facility is getting under way. Bloomberg story will fill in the bulk of it, but simply it is to get the securitising going again and get money into loans.
As these programs hit we should feel them in a energy from the mortgage community, with programs and expanded credit qualifications.
President Obama is focusing in on real estate. He feels we must get support for the market. It is a priority of his administration.
In Bergen County New Jersey: There seems to be a level of capitulation going on. Homes will sell with all these programs making buyers able to fund their purchases.
View my new homes for sale
Richard
I'm glad there is some optimism somewhere. Thanks.
I am optimistic that the president really does realize that real estate is the way out of this current market - I'm keeping my hopes up... Love your updates.
This is GOOD news...Hopefully we'll see some good new directions in the real estate market.
Richard - any updates with the recent volatility ? I am keeping an eye out for your blogs ! : )
Crude oil? The only way is up!
Richard,I hope President Obama is focusing in on real estate. I don't believe we will get support for the housing market. I feel the priority of this stimulus package was to pay back campaign debts. I hope you are right and I'm very, very wrong!
Jack,
I am really not optomistic, I am just trying to size up what we don't see right now. Lots of money!
Debbie,
We always must have hope without it we are lost. I do my best when things are the worst. We can always be heros in good times. Now we must step up and make it happen. Thank you for your encouragement and your positive attitude!
Mara,
Learn about what is coming on line with mortgages and use it for your clients, it will make you money.
Chris and Stephanie,
I haven't been writing much, I been on a special project. I will talk about it soon. I am going top do an update tonight 2/19/2009. It is a pivital one.
Ann,
We just made some money buying crude.
Paul,
He is focus on the real estate market. I just see though that it becoming a political solution instead of a real solution. I will blog that soon.
Richard