Those interested in stock market: - One new high

[Harriet]

Thank goodness. I hope that none of his employees (his firm had a strange structure, with Drier being the sole equity partner) unwittingly committed a crime.

 

[tradergirl]

I haven''t followed that one but I''ll read up. There''s going to be a lot more of those before this is all over.

BTW, the KBW index closed under the 50 dma. Pullback time.

 

[Abril]

Market shot up too high. Especially the REITs. It actually kept me from plunking more money in today.

 

[tradergirl]

It was the existing home sales numbers that lit it off. I was going to short until I saw that than flipped to the other side. Never mind that all the transactions are bottom feeders buying cheap foreclosures. We won't concern ourselves with details. Party on. Biggest 10 day rally since 1938.

**********

Existing home sales jumped in February, beating expectations as buyers looked to snap up foreclosed homes at bargain prices.

The National Association of Realtors said today that home resales rose 5.1% to an annual rate of 4.72 million, up from January’s figure of 4.49 million. Consensus expectations for February called for a drop, to around 4.45 million.

But according to the Wall Street Journal, the high number of distressed property sales are pushing prices lower. The median price for an existing home plunged 15.5% in February to $165,400. This is contributing to a vicious cycle of lower prices, higher inventory, and declining demand.

In fact, inventories of previously owned homes rose 5.2% at the end of last month to 3.8 million available for sale. At this pace, it would take 9.7 months to exhaust supply.

 

[Beacon]

Date: 3/23/2009 9:07:12 PM
Author: tradergirl

It was the existing home sales numbers that lit it off. I was going to short until I saw that than flipped to the other side. Never mind that all the transactions are bottom feeders buying cheap foreclosures. We won''t concern ourselves with details. Party on. Biggest 10 day rally since 1938.

**********

Hmmm, seems like we relived the 1929-1933 experience in just one year. Fast times indeed!

Remarkable day.

 

[Dancing Fire]

Date: 3/24/2009 1:26:20 AM
Author: Beacon

Date: 3/23/2009 9:07:12 PM
Author: tradergirl


It was the existing home sales numbers that lit it off. I was going to short until I saw that than flipped to the other side. Never mind that all the transactions are bottom feeders buying cheap foreclosures. We won''t concern ourselves with details. Party on. Biggest 10 day rally since 1938.

**********

Hmmm, seems like we relived the 1929-1933 experience in just one year. Fast times indeed!

Remarkable day.

Beacon
i thought you went on vacation with all them profits.

i would be nervous if the S&P hits 875 too quick.

 

[miraclesrule]

I just wish I knew what to plunk this fat distribution money into without losing sleep. My first thought is to just bury the money is a place that only me and a few other can find it.

 

[Dancing Fire]

Date: 3/28/2009 2:02:55 PM
Author: miraclesrule
I just wish I knew what to plunk this fat distribution money into without losing sleep. My first thought is to just bury the money is a place that only me and a few other can find it.

don''t do that,cuz the money that you buried will be worthless in a few yrs.

 

[strmrdr]

Date: 3/28/2009 6:57:12 PM
Author: Dancing Fire

Date: 3/28/2009 2:02:55 PM

Author: miraclesrule

I just wish I knew what to plunk this fat distribution money into without losing sleep. My first thought is to just bury the money is a place that only me and a few other can find it.

don''t do that,cuz the money that you buried will be worthless in a few yrs.

that''s different than investing it in stocks or putting it in the bank in what way?

 

[Abril]

I missed out on the last bear market, 2000-2002, but I won''t make the same mistake again. For those who miss this one, bears come around every 5-7 years.