Quite the mouth there behind the screen. Over-compensating for low self-esteem? Bad case of acne? Yep I STILL have my probe. Difficult to gauge a specialist's agenda. But ALL those shares (heavy volume) being sold (with the aid of the media) are going somewhere, and it isn't share heaven. Unlike me, he has the ability to gap at will. Move inventory. Away from his basis. Right or wrong? Merely the by-product in the extraction of profit. You're .........eh............right (IF that's your focal point), once you book. And.......pay the tax man. Easy to get wet in a rainstorm. Make sure to confuse that with your analytical skills. Feel better?
Anybody trying to catch these stocks for bounces is nuts at this point. The ponzi scheme is over, and many are left with 10 times the bad debt they had at the beginning of the cycle. Yet in 00, these companies were in better shape than they are today from a risk standpoint. They fell victim to a fed enhanced liquidity bubble that is starting to unwind. And most will go bankrupt or be bought up for pennies on the dollar. If at all. Instead of folks trying to look for bottoms, why aren't guys looking for new shorts? How about all those sectors related to real estate? There are dozens of sectors going to take big hits, auto, furniture, land development, luxury goods, it goes all the way down the line, and does not stop at sub-prime or the makers of homes.
No floor will be but under home builders, only new shortable pops, that I will gladly sell into. A rate cut will demolish the dollar, and only provide enough liquidity for smart money to leave the table with some chips left. This last cycle was not demand driven, it was speculatively driven. Big dfference. Money is moving overseas where interest rates are rising, not dropping, the bigger money understands this. And besides the markets are not up overall when the currency is down 40 %. It amazes me how many are missing out on all these short ops!? Fortunes are being made right now to the downside.
Funny how I just saw a commercial with CountryWide advertising that by just calling you will get a COMPLETELY no-hassle loan. ZERO standard fees or the usual cost associated paperwork. "America's #1 home lender" LOL
Breaking news they issued release tonight...we are not bust yet...but check back tomorrow we could be bust...or will go bust any day.