Glorious. I am now on my lazy way to quoting your insanely funny aphorisms. More please. I love the juvenile part about virgins and endless riches. Where do you come up with this? How about instead of what a doozie, we'll say "what a Dozu".
Dozu...do you live in the middle of a cornfield where life is the same as it was for you 2 weeks ago? Maybe venture out into a larger city. They are literal ghost towns. This is not something we have ever seen. You used to preach "price action." How's that going for you? Haven't seen you use that term in a while.
Was the bottom on March 21st? Whatever I may think I will honestly admit that I DON'T KNOW. And that might make me the smartest, most honest person here. I can see cases for both sides.
Wait until those NON- Qm loans start to default. These loans are for those who just missed agency. The NONQM market had exploded from 2015 until two weeks ago when the secondary market purchasing those securitized loans vanished into thin air. Zip zero. The biggest volume within that segment was a loan called BANK STATEMENT loans. Used for self employed borrowers who could not qualify based on tax returns, so they got qualified on cash flow ie bank deposits. Oh boy talk about a recipe for distaster going forward considering most of those businesses will eventually fold or have a huge decrease in business.