I see someone from Yahoo got an autograhed book from Ackman - said to "not sell". I have been thinking that USA is no. 1 in the world, europe no. 2 and china no.2 and the rest 3 and 4. Anyway, with a few drinks in me, I do not recall riots in the USA prior the "great recession"; however, do know of recent greek riots in europe.
Let's say that this current, supposed "pullback" is perhaps more than a "pullback". I heard "chatter" on Etrade, that even France is now in the mix of perhaps lack of sustainability in it's current course.
If europe truely is now on the brink of a "depression"; perhaps due partially from lack of US tourists, then no. 2 would in fact ba able to pull down no. 1.
If no. 1 is pulled down, I could see GGP also being pulled down. The recent trend has had an upward momentum (with the exception of the almost predictable montlhy pullbacks); however, with the recent Greek issue, I could see the momentum shifting to the doward direction.
If the downward direction has now gained the momentum, all stocks will also follow suit, so to speak. If all stocks, dispite the recent $15 floor for GGP, have this downward direction, I unfortunately currently see a downward direction for GGP.
A macro perspective, worldwide, is necessary during this time IMO. I see the current obvious trend for GGP is positive; however, I feel I need to curb it with the current world events.
If I sell at current prices and it drops, say to 8 or lower, I could rebuy in with the hopes of the 15 floor being maintained. If the floor is dropped, I would at least cut my losses.
This is also in light of the recent Obama activity to cut the bank profitibility and to trend even more towards a socialistic society. If banks cannot make as much profit, all will suffer IMO. I am not sure, but I would suspect that banks fell befor the general market.
If banks are again pulled back, I could see a pullback on GGP. I have confidence that GGP will survive in the long term; however, serously feel that perhaps a double dip could occur and need to protect my gains.
