Last up date we said
"The 5th wave is ending, and there is a bottom at hand. We are now long 3 units of SPH09 or ESH09.There could be some more wash out, and then I figure a quick sharp rally. Never the less we are long!"
Well we hoped we got a bottom and a sharp rally. Now we are ready to start selling, we own 3 SPH09 or ESH09 we will sell all 3 at 755. We will revisit this, when this trade is done.
Crude Oil, we are flat, we will look to sell short the May crude CLK09 or QMK09 mini at $51.00, one unit.
Last update we said.
We will pull our order for 123 buy.
So we are flat the treasuries. We will look to sell short 129 June USM09 one unit.
Real Estate Markets, I was interviewed and quoted on Inman News last week and it was released yesterday. Here is the link, Economic bust plays on emotions . One top agent in my office Antoinette Gangi has been all over the press, I have been working with her to sell new homes and land. She is doing great. In the past two weeks she got front page of The Record, our Bergen County regional news paper on downsizing new homes. She than got the local paper article Community Life and 1010 wins news radio in NYC, interview aired all morning today. We are turning this market as hard as we can. Let's look up and see the sun.
In Bergen County Real Estate New Jersey, we are ready for a buy spurt, I think it is starting. Positive action seems to be happening. We have moved more to a 60% arip to new listings from the less than 40% that I seen for a long time. Technically speaking, I think we are going to sell some houses this spring. My office is now building a pipe line of sales. We have been doing open houses every week and it is catching. You can't sit home and expect it to happen on its own.
View my new homes for sale
Richard
I do not follow all the news you report on, but of concern in today's news is Treasuries and the Chinese concern over the value. That is of major concern.
Jim, This is a excerpt from part of an answer on my reservations on the recovery a made a week or so ago:
President Obama and Congress has added many thing to the budget, the stimulus and bailout. This over zealous group might have over done it. Our treasury investors are backing up rates because of the huge borrowing and what the money is going for. China and the Oil Producers who buy many of our bonds, a looking for better returns if the money is not all for the goal of solving the problem. Also it is fiscally irresponsible. This is a question for our ability to repay! Look at our deficit.
Be the investor, I'll help you if you need it to eat but don't go buy a mink coat with it, We are again making fools of them!
Richard - Congrats on the Inman news article and a great update on the markets and real estate in this post. Is great that you are seeing some of those signs and that agent in your office seems to be very proactive which is awesome !
Richard - Any update on your end with some of the volatile moves in the markets and mortgage rates ? What is your thought on some of the recent news, especially with the Fed ?
Chris,
I am going to try to put the picture together before Sunday night. I been getting real estate busy. I think we have hit the bottom!
Richard