God I am lazy. It has been 7monts sinse I have posted anything on the market. Still been trading just busy...or I should say lazy. Market is the dooldrums. Volume is pathetic, most stuff looks propped up. Of course some things are going up like tech which really has no reason to. Economy is gettin weaker, housing tanking and overseas looks dangerous. But, the only thing I can see positive is maybe oil comes down and kicks things up some. Of course the real-estate factor could be more ugly than people think. I like to brag but said back in Aug of last year that real estate hit a top with Katrina. Being resourses would go there inflating and delaying building elsewhere. Seems like I was right. Of course pundits are saying things are different this time. I whole heartly agree as I read in Wall Street Journal on how some illegal alien bought at 500k house with a 3k a month mortgage and only makes 40k a year. That makes sense. Wonder how many of these are out there where lenders look the other way at the true ablility of the loan applicants to pay just to pass the paper along and make a commish.
I don't thin we have seen the end of this one. There is going to be some 1st class ugly showing up that will be like a lead anchor for this economy. Of course the beauty of real estate is location location location. But, I am adding one more. Financing. If you in fixed at a good load to value, who cares long as you can afford to pay the mtg. So for many out there it won't matter. But, all this excess building and speculation has to show up after that excess stops. From durable goods to escavation equiptment.
As far as the market goes, this is vacation time. Real trading will resume after labor day.
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