``Credit quality at some of the mortgage lenders seems to be the main concern at the moment,'' said John Carey, who manages about $12 billion at Pioneer Investment Management in Boston. Maybe I was wrong and the subprime stuff is starting to matter, after all a guy managing 12Billion probably knows what he is talking about. It will be interesting to see what the financial talk is this weekend. http://www.bloomberg.com/apps/news?pid=20601087&sid=a4E9QyJLV5mQ&refer=home
Buy when the bombs start falling? Like in 1981, Reagan, cold war, (silent but deadly) 1991 gulf war, 2003 gulf war 2.0, and 2006 Lebanon....
============ He is right on downtrends shorter than uptrends; but shorts make larger % in the same time period, generally. SPY/SPX is still above 50dma/bull trend , but nicely extended. Hitman made a good fundamental case for downtrend; but dont know how to trade fundamentals. QQQQ is still in1-3 year long timeframe uptrend; but went below 50 dma, below 50dma/ above average sell vol Lots of funds in QQQQ like to short it;Nice down day friday
...and let's not forget the beloved Russell 2000....which was rockin on Friday (mostly down) after hitting a new ALL TIME high this week. IWM volume on Friday - over 50 million shares traded !
<i>"Once we melt up to the point where everyone is in, then you can talk about shorting"</i> How do you know when that is? Accelerated volume, perhaps... like we saw on Friday?
http://finance.yahoo.com/q/bc?s=^IXIC&t=my&l=off&z=l&q=l&c= the above link is for the nasdaq. Given various factors from around the globe, here is the schematic for the sp500. Previous yearly highs will be busted. Then the curve will turn much higher faster over time.
Some of you guys still don't get it. You can short and make money every day. I often trade both long and short the same day and make money both ways. As far as your comment on "mortgage the house" ... many people can't even qualify for loans now since they've remortgaged to pull out some cash and the value of the house today is less than what they currently owe. Further, the adjustable rate loans that people took out now need to be refinanced .. and at higher rates. I suspect we're going to see the housing market get weaker before it gets stronger as a lot of people are going to lose their houses due to foreclosure, etc.