SwingTrade Member Forum

[Rawnoc]

Same naive fools who were calling NASDAQ 4200 a bottom.

It's going to get very ugly. The supply of unsold homes is acclerating, the defaults and foreclosures are multiplying, and all the while homebuilders are building as if the boom is just about to start.

I've got two friends in the business - one a VP of a huge mortgage company you've all heard of who controls all the sales in 3 states who made a killing last year....lately he's been searching the couch for loose change. Another friend, used to close dozens of loans per month....closed 1 last month. I don't think he even has any loose change left.