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Patrick, I use "Astrickos" for a backup. Sorry, I don't know how to do the "Blue" url. Try: Astrikos.com/public/marketwatch.shtml
Yahoo has to be wrong. I took a snapshot this morning and Yahoo was +225 while Astrikos was -452. It must be "them" again.
Bernie
George, I'm no expert, but thinking like a criminal, "they" don't want a bad market in
Sept./Oct. "They" are doing what it takes now!
Bernie
tony, I don't know. You have to ask someone who knows more than I do.
Bernie
Zeev, good morning. Are you going to sell the Q in the pre market?
Bernie
Jet, on Yahoo, ^TIC.N and ^TIC.O
Good luck,
Bernie
Well Zeev, are the Q going or are you going to keep them overnight?
Bernie
Gee Zeev, The NYSE is GNTing it's brains out. I don't remember seeing such high numbers. I hope we turn soon.
Bernie
Hi Patrick, It looks to me like WCOME is finally not included in the Naz TRIN. Does it look like that to you also?
Bernie
Well fibo, where is the link to that thread of yours? LG asked for it and you have not responded. Whats the link?
UB
Zeev, it's really important to keep the political "stuff" off this thread. Everyone here is smart enough to understand that political opinion is blood boiling and should be kept on a political thread.
Bernie
Yesterday.
Hey Zeev, YEAH! -1082 counts. Right?
Bernie
It's plenty hot. It's hot enough to knock your c*** off! This market has got me sweating bullets.
Bernie
Hi Patrick, The Tick on the Naz on Yahoo went to about -840, yesterday.
Bernie
Stop Loss
Me too, from Fla.
Bernie
Zeev, What a post! What a fabulous post! You let us know what you were doing, you let us know quickly, and very clearly! You are da man!!
Thank you,
Bernie
That's a well reasoned argument Joe. We'll see how it plays out.
Bernie
Joe, "valuations have gotten too high." You are talking about the value of the STOCK of various home builders. I am not! You give an example of your problem with commercial RE. I'm clearly not talking about commercial RE. "if you do not own a home at this time I would wait to buy or find a lot and build your own home." Only a builder would give this (IMO bad) advice. <g>
Bernie
Win, now we are getting somewhere. "I don't advise anyone to do anything." Agreed, and "the home you live in is an investment considerably different from the stock market" Agreed, and "you need to look at the whole picture" Agreed again. What people are incorrectly calling a bubble, is simply a good residential RE market, with a spurt in prices in some areas. And, the most important engine driving this market is low interest rates.
Bernie
You say we have a national RE bubble, that is going to burst on a national scale (although maybe not all at once), and I say we do not. Remember, I'm still talking about residential RE. Are you advising everyone to sell their homes because they are priced as if in a bubble? Are you saying people should not buy homes because they are "grossly overpriced" because of your same bubble? Just what do you, and the other bubble believers, think us poor uninformed folks should do?
Bernie
"in 89 our largest LOCAL employer, McDonnell Douglass Corp began layoffs." and "Of course real estate is local in nature."
You make my point!
Bernie
"The housing market is not so different to the stockmarket." Sorry, IMHO, you've got that wrong.
Just another article to scare people. She starts off talking about "the" RE market. This article may sell papers but it wont help anyone understand the residential RE market. Sorry, no national bubble! I almost always recommend a fixed rate mtg.
Bernie
I understand you had a local housing bubble in So. Calif. in 89. Now, if you would, explain to us what caused the bubble and what happened to end the bubble. Did you try/need to sell in 89? Furthermore " the housing crash of '89" in your location, had basically no effect on Condos in NYC, homes in Fla. or anywhere else in the USA. Like I already said, Real Estate is local in nature. Your bubble was a local bubble.
Bernie
What's the difference? When someone owns a stock @ $60.00 and wants/need to sell their stock Now for cash and the stock now for cash only brings $20.00? They might need the money because of some distress in their world. I don't think it's a moral issue. I agree the subject is getting boring. A least it took my mind off the market for awhile.
Bernie
People do die and sometimes they want/need to sell their R.E., NOW! When you have a situation where folks want/need fast cash, why not help them? Of course, you can always pay over retail. <g>
Have you ever bought anything cheaper for cash? Why not R.E.?
Bernie
Patrick, let me say this. If you are looking to buy, a well located cave err I mean Condo <g> in NYC, try to find some seller distress. Divorce, lost job, death, absentee owner, etc. and attack with "very fast cash". You might find a deal.
Bernie
That is what I have been describing. I'm in the Tampa/ St. Pete. area since 1971. R.E. has gradually increased in value over the years. There have also been two major spurts up in values. About 1980 and now. My house, located on beautiful Boca Ciega Bay, has almost doubled in the last 3/4 years. Water front is water front. Location, location, location.
Bernie
Basically that R.E. is not in a bubble. He said a lot of what I said and he is correct. <g>
Bernie
I agree and I would never say can't. It just hasn't happened in my 40 years of experience. A single family home, in a good location, has been a good and safe investment for a long time.
I still wouldn't put all my money in R.E., I would diversify.
Bernie
That's right. Real estate is local in nature. The demand in NYC sometimes lessens and prices then go down. That doesn't effect the value on my home in Fla. High interest rates are what kill R.E. on a national level. Bruce and I are talking about single family homes, on the water, in Fla. Most building today, of this type of R.E., is tearing down older homes to build real beauties. There are very few vacant lots that have not been built. Now, I don't agree that they go up 20% per year, but they do go up, not down. You can find a distressed seller, and you can "steal" a house, even on the water. I've been in that business for years. When demand lessens, most folks simply remove their house from the market, which then leads to a shortage of supply when demand resumes. The folks waiting for a so called R.E. bubble to burst, don't understand R.E. Greenspan has it right when it comes to R.E.
Bernie
Patrick, water front real estate, here in Fla., is a different animal. They aren't making any more of it. Period. The government has basically not allowed new sea walls to be built in years. So, it's a simple matter of supply and demand.
Bernie
PS Zeev knows about BSTE, ask him.
Thank you for the heads up Zeev, now I can relax. <g> I did jump in for a short run and jumped back out. I'm at about 50% cash and watching. 1296 would be a beautiful thing.
Bernie
Zeev, If you change your mind near the close and decide to buy the Q. Would you give us a heads up and just say something like, "I'm going to buy the Q".
Thank you,
Bernie
Zeev, what do you think about the Naz trin droping here to .53 or so?
Bernie
I gotcha Pat. I did pretty good on QLGC and MERQ. The other 3 I'm in but I could have gotten better prices.
Thank you for the heads up,
Bernie
I'm going to send you a PM on SI.
Zeev, is there a price you would pay for CDTS or SCON?
Bernie
Larry, welcome back. You didn't miss anything.
Bernie
Hey Patrick, is the Naz TRIN still unreliable because of WCOME?
Bernie
Hi Zeev, your new site seems to be working fine. (Always good to plan ahead.) I understand, you believe we will finish red today. Is it too early to ask what you think the market will do tomorrow?
Regards,
Bernie