
Originally Posted by
Big Ben
Has anyone pulled their pom poms out of the toilet? Markets are getting cranked and rightfully so, this "bull market" is just another inflated bubble. Protect your gains, pick up some shorts..FAZ, FXP and watch them run when the major indices tank. FAZ is up 9% and FXP is up 6%. I must say I do get a kick out of all the optimistic bs on this site. "The .5 handle is gone for ever"....bs...there is resistance at .6...bs. Siri will be executing a reverse split in no time and that will be the death nail to all the buy and hold crowd...sorry but Mel does not have the share holders in his best interest. We need to gain .40 cents over what might be the worst holiday season ever...good luck with that! I think we will test .58 and run down to .53 followed by...you guessed it .4 handle....ooooooh. Once we touch a .4 handle we could slide right to my buying range .38-.42. Hopefully all the dopes on here protect your profits on the way down. I am not sure who posted the 1.8 million figure on 40k shares at 40$/share...I have been chuckling about that all day. I don't doubt we will get to 40$/share, after the 50-1 reverse split...lol. Unfortunately your share count won't be 40k!
Good Luck, ring the register on any gains, the old market is broken, the new market is here to stay and you guessed it...a traders market...buy and hold over the last ten years has been changed to buy and rot.
I had a company meeting two days ago and got the real numbers on the shadow housing market/REO/Foreclosure market...bad! The next 24 months housing is going to sink to insane levels....right now there are 4 million REO's ready to go into the shredder...these homes have been in limbo for months..state moratoriums are running out..when they hit the market and are added in to the housing numbers...home values will drop another 18-25% These homes that are REO's might have to be bought by the FHA. This will cause a huge influx on the supply side....not good. If your moving in the next two years...good luck with that.
Foreclosure Ben