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Yep, all the homes have that
I don't think his is a sink hole. There is sand below the slabs and they usually shift after a few years. Most of the homes in Florida are built on a monolithic slab, with concrete block and stucco. The stucco cracks as the foundation settles. Property near the water or beach generally shift over time. I have seen homes where there is a 4 inch slope in the home. You have to elevate the home and shore up the foundation. Probably cost him $50K for a home that size.
redefining for the uninformed
Looks like Japan didn't take the lead of the US in redefining their GDP - Missed estimates - 2.6% in the second quarter vs. 3.6% estimates. Abe announced a sales tax for 10% in Japan. Greece improved on the -5.0 2nd GDP - came out at -4.6% GDP. That is called a recovery by the socialistic media LOL. Europe will come out on Wednesday. Sure hope we can count on them to redefine the GDP or flat out lie. LOL With the US GDP down to 1.6%, even with the revisions of R&D, you would think they will now have to price in top line revenue contractions in most of the international companies, like aapl, Ibm, etc. Then you have the Fed out of bullets with the housing market bubble that they created again. So contractions will show up next in home prices, stock prices, Obama Care Tax on the poor and middle class (Supreme Court said it was a tax), less full time jobs or contraction of part time jobs with no unemployment benefits. Good job in screwing up the country and the world, Ben and friends. The Bears theme song.
The affordable care
It should be interesting. My son's insurance went up 20%. After contacting the insurance company about other plans that were cheaper, he was told to wait until October when the "new" plans come out. October surprise. I read in Ohio it was going up 40% because of Obama recently exempting businesses. Guess when you are allowed to make law, exempt congress and their staff, the dems celebrate this, as seen on this board. The cost isn't the problem as much as is the lack of doctors to see the millions of people that can now go to doctors. I think it is funny that the Dems who used to think private information was private, now celebrate the giving of their personal health records to the government, who will now make decisions on when or if they will be allowed procedures and or given a pill, as the Prez said and sent home.
This will be a nightmare to execute. The republicans shouldn't allow the Prez to change the law and should insist on an all or nothing policy.
PGA Golf tourney
Should be a good weekend watching golf. Starts again in 30 min on TNT TV. Hoping Phil wins again. I think Kutcher wins. PCLN is something else. Hard to believe that someone else hasn't copied their model.
re Pivot points
I have been using pivot points on the min charts, You need one more indicator LOL See where Snowden isn't in Russia. Does that mean the great negotiator will be going to Russia, now. LOL Wimp position threaten line they better not cross over LOL.. Worse that Carter. Off to a vacation soon at Martha's vineyard with him. Guess he is exhausted from Leno and traveling around. He needs some down time. LOL
1515 SPX target
Press F5 to refresh chart for real time LOL
http://stockcharts.com/public/3421479/chartbook/306082610;
U6 the true unemployment number the media forgets is at 14%
2.5% better than 2009
http://portalseven.com/employment/unemployment_rate_u6.jsp
LOL NAHB: Rising home prices encourage home buying
NAHB - The National Association of Home Builders - You think that might be a little slanted LOL... It's like saying people like to pay higher prices for cars or they love higher rents. Please .....LOL propaganda, Baghdad Bob.
What I like is their great Diplomacy
LOL, Dems said they were so good at it, not like the Cowboy Bush LOL They look more like the wimp on the playground. Problem is they have no weight behind their words because they won't use force. Bunch of whiny babies. LOL
sort of like the armed forces people
who were shot at Fort Hood. The radical attack on American soldiers was ridiculous, but no one says anything about this and the left is very clear how they feel about this. Sort of like the Benghazi killings. The liberals on this board just keep their mouths closed about such grave killings. They are good little liberals first and have to follow the lies they are told LOL. Guess they blame Bush after 5 years. LOL
Hey trendy
Here is the true chart with the moving averages, which tell a story. Also the increase in interest rates aren't backing off. You can also see a descending triangle. When the Death Cross (200 and 50 on the daily and 10 and 50 on the weekly cross) look out below. This should occur within a month. The Fed has to taper, because housing prices aren't backing off with the increase in interest rates. Normal growth is maybe 2% per year as a norm. The media spin is evil as it is doing the same thing as in 2006. But they will blame Bush and all the liberals will agree LOL The build out time is 6 to 8 months for new homes and the buyers don't apply until 40 days before closing to the lender. Many were investors who planned on flipping them at closing and the other buyers may not qualify with their Obamacare part time jobs LOL
Yep
I had one house this week, where there was about 5 hard money loans offers at 20% interest and 5 with HELOC's. The home had 16 contracts written on it and is bid up 40%. LOL We don't take hard money loans and this was cash only. It will interesting to see how existing inventories sell after the kids go back to school at the end of the month. As you pointed out, flippers generally mark a top. At the top in 2006 and 2007 was when Barney Frank and Dodd forced the lenders to take undocumented loans and prices went crazy, as renters went crazy with buying homes. Just did this for Trend - Death Cross coming up. Liberals will ignore this. LOL
Tell him to bring you the contract
He won't. He just wants you to list it with him. It's generally a trick, but if he has a buyer say bring it on. Tell him to put the commission in the contract and you will sign it. LOL He will fade away.
The Fed is talking about tapering today
They are being forced too by the bubble they just made in Real Estate (blame Bush) and now prices are getting so high, they are running out of buyers, so the only the thing they can do is lower interest rates, (not going to happen) or allow interest rates to rise, and taper. They screwed up again. That is why BO was out there last night with his "This is not a Bubble speech". LOL Last week with the lower GDP and full time employment, he went out there with I am for the free market and jobs. LOL This is comical to watch, but sad for what these incompetent people have done to the country. Obamacare in 7 weeks. Ohio said premiums went up 40%. oops, watch for a speech blaming Bush. LOL
LOL Gleno
What's really funny is that happened in Oregon. LOL Didn't know there were any other Conservatives out there.
Noticed that Brian BO Williams
hasn't brought it up. Noticed that the two liberals on this board haven't said how "Unfair" this is. LOL Liberals never call out their own. Unions want out too, so you know BO will help them out. Trickle down economics, or better written by BO as Trick-le down economics from the left. "Smoke and mirrors will fool any of the Dem base". They are so easily fooled. LOL
1694 SPX right now is the line in sand
Breaks that down and we are in a hold short mode.... 5.6 Billion, da boyz just received from the Fed, so guess we see if this is a Bear Trap or not. Down volume is pretty strong here.
Housing is in crisis
The problem with record climbing prices and less full time workers is the housing market is about to implode. Interest rates going up is a positive for the markets LOL Media cracks me up. Where's Rick? LOL
Yep
I have been using Twitter to post my thoughts on the markets. @ThnkTankCharts
re Chart
Stole it from Chip Anderson when he put it out in June. I couldn't push the buttons fast enough. I did break it down for dumb people like me, so it is easier to spot. LOL I put it in the back pages of the charts last week, now on page one. LOL Gotta make them think I am smart. I don't think it worked LOL.
Hi Snoot
I have liberals attacking me all the time with my housing stance. The funny thing is I am just reading the charts. The media keeps on touting that bubble prices is a recovery and that housing construction is the engine of the economy. LOL Articles have come out in the last week stating that the housing markets prices are growing the fastest since 1977 and the Case Shiller showed that in two cities prices have surpassed the 2007 highs. The Fed is in trouble with their easing and are now are likely to cause a Bubble again. So they will have to taper and likely big time. The Fed's goal was to take prices back to the bubble level in 2006 and 2007 so the banks could get out of their non performing assets and again the general public has been hood winked by Ben and the banks. So this should be an interesting quarter coming up with the draw down of full timers who are the only people that can obtain loans and the cost of Obamacare. Ohio just came out saying insurance policies costs will go up 44%. So with the pathetic 1.7% redefined GDP, one has to wonder if the 2.2 GDP growth in the 3rd quarter will actually occur.
Last Hindenburg Omen was in June
I don't have to be told whether you believe it or not. It doesn't matter to me at all. Showed up on June 1st - NYSE was at 9302 and dropped nearly 500 points to 8814. So your smug answer is uninformed.
POMO today 4.75 - 5.75 Billion
They have the juice to do it at 10:15 when the Fed window opens. Just remember Bin is dead and America is on the run. We are not like the Cowboy Bush for sure. Glad they are so good a diplomacy LOL... Apple is attacking the 200 DMA - Bellwether of the markets in my opinion.
SPX P/E ratio is 19.5.
Compared to a historic mean of 15.5 and median of 14.5. It’s close to the P/E ratio of some notable bull markets about to bust. The index’s ratio was 21.46 at the start of 2008 (the housing bubble). It was 27.6 at the start of 2001 (the tech bubble). It was at 18 at the beginning of 1987 (before the crash).
Alert - Hindenburg Omen at the close Monday
The Hindenburg Omen is a combination of technical factors that attempt to measure the health of the NYSE, and by extension, the stock market as a whole. The goal of the indicator is to signal increased probability of a stock market crash. This occurred at the close on Monday. The rationale is that under "normal conditions" a substantial number of stocks may set either new annual highs or new annual lows, but not both at the same time. As a healthy market possesses a degree of uniformity, whether up or down, the simultaneous presence of many new highs and lows may signal trouble. From historical data, the probability of a move greater than 5% to the downside after a confirmed Hindenburg Omen was 77% . [The Wall Street Journal 8/23/2010 article cited below states that accuracy is 25%, looking at period from 1985], and usually takes place within the next forty days. The probability of a panic sellout was 41% and the probability of a major stock market crash was 24%. Though the Omen does not have a 100% success rate, every NYSE crash since 1985 has been preceded by a Hindenburg Omen. Of the previous 25 confirmed signals only two (8%) have failed to predict at least mild (2.0% to 4.9%) declines.
You know housing is in trouble when
http://www.housingwire.com/blogs/1-rewired/post/25937-president-obama-will-address-housing
Doug Short recently penned:
“Essentially we are in ‘uncharted’ territory. Never in history have we had 20+ P/E10 ratios with yields at the current level, although as I type this, the 10-year yield is at 2.69%, which is 1.26% above its all-time low set in July of last year. The closest we ever came to this in US history was a seven-month period from October 1936 to April 1937. During that timeframe the 10-year yield averaged 2.67%. How did the market fare? The S&P Composite hit an interim high (based on monthly averages of daily closes) in February 1937. The index plunged 44.9% over the next 15 months.
If we look to the Dow daily closes during that period, the index hit an interim high on March 3, 1937 and fell 49.1% to an interim trough on March 31, 1938 -- 13 months later.
What can we conclude? As I said above, we're in ‘uncharted’ territory. Despite increasing references to near term tapering of QE, many analysts assume that continued Fed easing will keep yields in the basement for a prolonged period, thus continuing to promote a risk-on skew to investment strategies despite weak fundamentals.
On the other hand, we could see a negative market reaction to a growing sense that Fed intervention has its downside, especially if Treasury yields continue to rise despite FOMC policy. The recent trend and volatility in the Nikkei in the wake of Japan's massive monetary intervention could give investors second thoughts about US equities.
We are indeed living in interesting times.”
With the last comment I do readily agree. We live in interesting times, and much like “Alice In Wonderland,” we are indeed all mad here.
re BO
Everyday, that guy goes out and lies to America. Call Benghazi a distraction etc. Calls using the IRS a distraction, and Trend defends him. Trend is a distraction LOL
Yep since wiener and the new Monica tape
She has been acting kind of crazy. You know the Dems and their war on women. LOL I hear Obama is blaming the republicans for wiener, Monica and John Edwards behavior. Dang republicons. The hundred people in back of him when he said that clapped and agreed it was the republicans fault for everything. LOL
The Free enterprise caused this???
Government over step their role. Forcing banks to take no doc loans or else, creating a bubble in price on homes across the nation. Fed not letting the free markets determining interest rates and by Clinton continued by the Dem Bush.
The National Homeownership Strategy began in 1994 when Clinton directed HUD Secretary Henry Cisneros to come up with a plan, and Cisneros convened what HUD called a "historic meeting" of private and public housing-industry organizations in August 1994. The group eventually produced a plan, of which Mason sent me a PDF of Chapter 4, the one that argues for creative measures to promote homeownership.
Free enterprise:
An economic system where few restrictions are placed on business activities and ownership. In this system, governments generally have minimal ownership of enterprises in the market place. This system aims for limited restrictions on trade and minimal government intervention.
Monday - Commentary
More negatives than positives - POMO tomorrow is huge - CPCE is stating that this is a major top - Steroids for the market, good - steroids for sports, bad. No wonder the country is so screwed up - The ethics of our country, "What benefits me is right and doesn't benefit me is wrong." Right now, everyone gets a trophy, except A Rod - I'm a Yankee Fan... not right. LOL
http://stockcharts.com/public/3421479
Oops they already pulled the story
Since most of the media is afraid of BO, it looks like they pulled the story. It's a great time to be a Dem with the picking of winners and losers. This is a first.
http://www.bloomberg.com/news/2013-08-03/apple-can-continue-selling-iphone-4-after-u-s-reprieve.html