How many career traders are like me and think all this mumbo-jumbo lately is just a bunch of non-sensical hoopla? (1) We are in the US. (2) We have a global market/economy scenario these days. (3) Capitalism and prosperity is the call of the day (norm/aspire to) That being said those of us that have seen things evolve (rather quickly) these past couple decades KNOW what corrections and Bear Market are. Basically healthy/contained events - that even offer the opportunity for traders to easily profit from. SO WHAT IS ALL THE HOOPLA ABOUT?? Why when we were off 3% (from top) did everyone HOPE/THINK we've gone down SEVERE ENOUGH? Why when the market got toppy in Feb/Mar did investors INSIST that (1) month was enough to "correct". Why after a two-and-a- half month ensuing rally did the market get so volatile for a month and a half and then tank? So "newbies" run rampant managing Big-Money Funds? They got STUCK and still don't believe a bull market should have semi-severe pullbacks? Are these the same LAMES that got stuck with margin calls via credit crunch woes/worries? Should we (I) feel sorry for these same outfits that ramp up HUGE leveraged gains and HEADY bonuses during favorable periods - but can't take the heat when the ship is sinking? So credit/financial is SO IMPORTANT to our system with the market barely down 10% the Fed needs to rescue/bailout these firms that basically are on strike to new lending because they "can't unwind positions"? COME ON NOW. They had Feb-Mar to see the clues (market distribution or a stack up of heavy selling by insitutions that is ALWAYS a precursor to an iminent pending correction) and then Jun-Jul to still further SEE THE WRITING on the wall and reduce risk. And when the market dropped 3-5% - they still used the classic "hold and hope" method with investments up 'til NOW when we haven't (yet) seen an all out rush for the exits - which we will have to-to get health back into this bull - and have to let these NUMBSKULLS get more-and-more chances or jumps to the market/cash infusions/rate cuts so they can SAVE THEIR A**ES! Or is it just me and I am the only one who sees this financial market as unhealthy (biased against retail investors) as it is? My methods are proof well-enuf to navigate but OUR DAY IN THE SUN has YET to unfold. When we foresee and side-step STEEP DECLINES - and severely profit to the downside! BUT NO...next week we'll see the same coersion and dishonest tactics/rhetoric to benefit those poor, poor, poor souls. Meanwhile our short positions get stopped as an inordinant amount of unforeseen crap unfolds to benefit the few. The bottom line IS the market WILL consolidate past returns and NEW market leading stocks WILL form bases and emerge with the next (healthy) leg to this bull market ONE WAY OR ANOTHER! Why prolong the inevitable? Let the market tank well-below March lows. Let year-to-date returns on the benchmarks go negative. Let new healthy price patterns take 2-3 months to emerge and QUIT BEGGING for mercy and take it like a MAN! paysense (lol, I had fun with that one) Meanwhile, I guess everybody hates me because nobody responds to me. Or when they do it's ATTACK, ATTACK, ATTACK as if they aren't pulling their own covers off - lol. Step up...be constructive, use your mind in a healthy way, share thoughts - REPLY, for God's sake!! I am not a know-it-all but the study of trade/markets is in my blood, too But after more thought...u r right (of course). There is SO MUCH other stuff to occupy discussion on - LIKE WHAT???????????????? (ok, sorry for being paranoid, best to all Gilbert)
Im just sick of these assholes, taking away my money via inflation to save the fucking morons who got in way too deep over their heads. LET THEM FUCKING BLOW UP. Stop punishing me for not taking crazy leveraged risks by giving them my money via inflation you fucking bastards.
Exactly, while I have been making full payments on my fixed mortgage, those who had the ARMs enjoyed the low montly payments and now I am going to have to pay for it? Give me at least one good reason why should I? Sell their houses off the foreclosure auctions ASAP....no grace periods ever. This country highly motivates personal irresponsibility-its so sickening and sad.
I agree and I'm pissed just like you, but I'll give you your one good reason. The value of the home that you and I have been making full payments on will drop about 30% if these fucks don't get bailed out. Yes it's a bitch, but which will cost us more, a bail out, or watching your home value go in the tank for years to come?
I would venture to say that quick enough the equity built into our homes once hitting lows will reach even higher. AND a whole assortment of benefits will evolve. Let these scumbags get a real job and earn the right to be deemed creditworthy enough to once again buy a house within their means. Do you think I care in the least bit if joe money man in the RE, sub-prime or whatever market has to take a hit and find a new job for wifey and kids? That is what this country is built on - not enabling. Go learn what you did wrong to get your boat sunk and right your ship again. You'll be better (the rest of us too) off if you did in the long run. "Oh poor me...I have to tell my wife we have to rent for a while!" Joe Stupid. Gilbert aka Paysense. The Fed is going to coddle this market to even more severe depths or they are doing exactly what they want...make a smooth out for those bastards. I'm sure the industry can consolidate and be better off in the long run. I'm sure the "industry" can learn the hard lessons (as if they don't already know). I'm sure the industry will learn how to make mortgages attractive (re: they make money) again. OH BOO HOO...I can't take it any longer. All the stocks I should have sold have plummeted and chances are few of these will rebound (not mine) with the next bull leg and I'll have to sell them at the worst time - at the bottom when I have to! BOO HOO. So surprise us with some more Fed action so Wall Street can continue to unwind the STILL massive positions they are stuck with. Do you think I care if JPM BS or B*llSH** have to take losses for a few years. They'll just increase "nominal" transaction fees to access my money (they are using to make buku bucks) like $125 overdraft fee instread of $45. Yeah Joe do nothing average will take it and not say a word!! And we'll increase our bottom line and recoup 50% of losses in 1 year!!! Thank God we hire MBA's from MIT (I know they don't exist) or go to schools like "my buddy" Cramer to think of these GREAT business plans!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Meanwhile they are out at the beach or "the Hamptons" while I'm stuck here trying to improve ways around these events for my clients. Yes, let's just help them - they really need it! Ps (ok, I'm done)
Just looking into US current immigration policy; and the SS policy; They already give many clues; people don't realize that when baby boomer will be squeezed for next round; what is the best plan other than reduce their fixed asset valuation by cutting their house price half? Sell your house and move to third world countries; live like a king.
I agree, but I guess it depends on how you're close to your retirement or how soon you're planning to sell your house. To me it doesn't make any difference whether home value decreases or increases in the absolute money amounts. If price goes down, well, I can always sell my house for 30% less and buy a new one for 30% less as well. The only way I can lose if it goes down for prolonged time, lets say 25 years which I seriously doubt. Then I would have to take a loss since I would need to sell my house anyhow, cause I would not need it. A small apartment will do for me and my wife. We only bot this house for the kids to grow up. On the other hand if ARMers do get bailed out (by substantially reducing the interest rates) there will be a bigger problem -the inflation will go out of control and our home values whether stays the same will not have the same purchasing power, but I am sure everyone understands it at the moment. Again, I prefer that all the ARMers take their losses now than later. But its not up to me to decide
Yes, but it is. Except for the possiblity of not everyone getting that "warm and fuzzy" feeling when we are around, it IS up to us. If we don't bring sense into the forum of life - bad decisions will continue to proliferate that AFFECT EVERYONE. I don't want that and neither does anyone if they are honest. Stop the madness let everyone take their lumps like a MAN! Quit the hiding in the bushes and confront what really matters - the "priviledged" (if that is what you want to call 'em) - rather fortunate (or unfortunate - but fortunate to be able to act out) that have the "luxury" to be coddled AT EVERYONE ELSES EXPENSE!! In other words WE ARE GETTING STUCK YOU KNOW WHERE and what really matters is IT HAS TO STOP WITH/BY US!! (I don't want to get stuck there.) PHEWWW!!! I've just about had enough. I've been waiting for a proper correction since Feb and been trading in and out of positions like a madman - just to save 50% compounded annual ramps over the years. After a while...it gets testy. And now that we are starting to probe for a bottom - I get the feeling ALL YOU A**HOL*S want to run right back up to 14,000!!!!!!!!!!!!!!!! Your problems ARE NOT mine. Learn something today. (ok please tell me i'm done by ranting and raving along these same lines - because there are plenty of worthless, attacking threads. What would you say if I said NO we are not going right back to 14,000. You'd say I don't know that - before you'd say, yes...that is a 'possibility'--just my point.) gilbert
FYI is anyone (traders) even thinking about further shorting these banks, brokerages and investment banks that benfited in share price these last couple of days with Fed infusion/symbolic intervention? If you think there HAS to be more volitility/work on this downside...these would be easy pickings - unless an ACT OF GOD (surprise Fed cut after surprise Fed cut) keeps these technically bereft - temporally-"propped" stock prices to somehow stay stabile at the current price level???????????????????????? PayS
waiting here for a bit of bounce more back up to add to my shorts....if the fed does cut fed funds they don't have much room to work with since you'll see the dollar shake causing inflation to rise even further.