The 5th wave is ending, and there is a bottom at hand.
March crude Oil, we are flat.
Last update we said
SPH09 or ESH09 stock index futures. We missed our short sale. Oh well, I am looking to start buying. We will use a 3 unit strategy. We will buy 1 unit at $775 now, a second unit at $735 and a third unit at $700. I am putting these all out there in case I miss a blog.
We are now long 3 units of SPH09 or ESH09.There could be some more wash out, and then I fiquire a quick sharp rally. Never the less we are long!
Last update we said.
We bought 125 16/32 one unit we are long the 30 year treasury. I didn't blog us out it rallied big time to 130 12.5. Never the less we will put an order to sell at 128 even.
We sold at 128 even for a 2 and 1/2 point profit on the contract.
We will pull our order for 123 buy.
Real Estate Markets, In the past week there has been some good news, we have Jumbos again. Not at historic spreads but much better for up to $4million. last week we were quoted 6.5%- 0 points for 30 year fixed. This is a good sign.
In Bergen County Real Estate New Jersey, the market is selling if you priced really right and the numbers are still below sellers expectations. If the numbers are right it homes sell! As home sellers capitulate or the short sale gets worked the inventory is moved. What I fear is the Obama plans to tax refund people who will not stimulate the economy and raise taxes on people $208,000 approx. and over who would. This is going to cause the the treasuries to back up and affect mortgage rates. Since this started the 10 year was at 2% and now moved to 3% in just a few weeks. The action to spend without incentives to the private sector and just do give aways is crazy! I know Obama campaigned the last couple of weeks to do this, but the markets hoped he would not try to overlay it on the stimulus bills to save the system. I thought it was Pelosi, only it wasn't. President Obama has now, in his first weeks, tried to squeeze the system with Pelosi. If his gamble fails we all loose. He is not doing what the economist want him to do, but what he wants to do. Doesn't this sound like what people said about President Bush?
View my new homes for sale
Richard
Richard - It is amazing how low the market is, some of the stock prices are just amazing. It is hard to believe that the DOW closed today below 7000. So you are going long now on S&P index ? What is the symbol ?
Christopher and Stephanie:
The future is ESH09 for the mini and the Pit traded is SPH09 both are march futures.
You can buy the stock versus as SSO proshares ultar long.
We had our orders in from last week.
Richard
Now is the time to buy --- in the stock market AND in REAL ESTATE --- the woulda, coulda, shoulda's will be rampant 2 years from now...wishing they could market timed and wishing they were in it in Spring of '09.