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On that day and time it will actually be over 8000.
Big Al
No problem...if it is 8000 on Tuesday I'll wait til Thursday. What time mid-day? Are we talking lunch or mid afternoon?
I am saying it dumps on whatever day just after lunch...2 to 2:30 just after everyone gets back from lunch.
I've been sitting all cash since this time last year...so I am all in...since this time last year we added another wedding we are going to have to pay for 25 or so years down the road...so I need to be EXACT. A new boat next year wouldn't be the worst thing either.
On that day and time it will actually be over 8000.
Big Al
No problem...if it is 8000 on Tuesday I'll wait til Thursday. What time mid-day? Are we talking lunch or mid afternoon?
I am saying it dumps on whatever day just after lunch...2 to 2:30 just after everyone gets back from lunch.
I've been sitting all cash since this time last year...so I am all in...since this time last year we added another wedding we are going to have to pay for 25 or so years down the road...so I need to be EXACT. A new boat next year wouldn't be the worst thing either.
Before lunch.
Order the boat.
Cancel the wedding.
Big Al
__________________
"I hate Illinois Nazi's" - Joliet Jake Blues
...All the wants you waste
All the things you've chased
Then it all crashes down
And you break your crown
And you point your finger
But there's no one around...
J.Hetfield
This is a "global Crisis".
liquidity is not getting into the hands of the people.
I have some some friends that run a clinic, and they say most of the healthcare corp
are not paying the patient bills, cause they cannot get a bank loan.
Well, its been a while since I commented on this forum, so lets go for broke, thats how Patton & Wayne would have it: The environmentalist and liberals have hamstrung us to the nines, so have the politicians, shocker, I am a capitalists, so, this is the deal, everything has been overvalued. Real estate, boats, RV's, jewelry, cars...etc. We are heading into at 3 -5 year learning curve of realization and valuation and it will not be pretty. #1 We need to WIN the war in Irag & Afghanistan and get oil flowing and soundly defeat terrorist or terrorism absolute. #2 Put a lid on Iran and N. Korea for perpetuity, Yes we need to be elitest and back them down for the whole world to see. Sometimes it pays dividends to be the linebacker on the block who will break your nose or worse. #3 Tell OPEC to work w/ Us or kiss a sh** load of money goodbye b/c we will drill, drill, drill and use ingenuity to defeat them. #4 All of those SOB's who made loans should be made to work out loan payments to the borrowers on their primary home. The speculators and investors will have to be reckoned with in a manageable accord. And Lastly, I believe the market is going to settle in at 6300 by god I hope I am wrong. - Capt. Winston
This is a "global Crisis".
liquidity is not getting into the hands of the people.
I have some some friends that run a clinic, and they say most of the healthcare corp
are not paying the patient bills, cause they cannot get a bank loan.
in my opinion this is far from a bottom.
I have to agree with you. My friend who has 30 people working for him in his business that hes had for over 30 years cannot even get a car loan as of today. The dow will have its ups and downs and maybe a big rally next week I sure hope so. No rally in the next two weeks were in big time trouble. I do like JNJ and loaded up on some today at 52.
#4 All of those SOB's who made loans should be made to work out loan payments to the borrowers on their primary home. The speculators and investors will have to be reckoned with in a manageable accord. . - Capt. Winston
So simple to spout off when you aren't involved. Easy again to call all mortages sub prime, isn't it? Well, the young people that bought houses and now one spouse lost their job and they get screwed because a normal re-fi isn't available. Somehow our kids should have known this could happen?
People our age buying a beach condo anticipating retirement and buying it on an interest only ARM...and now having to re-finance it because neither their old home has sold and their income has dropped and their condo doesn't appraise for what they owe on it?
People using money from their 401K or IRA to buy investment property on a no-doc ARM because it was the smart thing to do...and now facing foreclosure because the same bank that lent $$ to them the first time won't re-up the loan despite a perfect payment record?
It's these kinds of situations that's causing the snowball effect with mortgages, it affects everybody that has a mortgage less than 8 years old except for the 30*year mortgages.
__________________
Rick
VOR ocean race Hooter Scooter
28' Chaparral BR (SOLD)
42' Post SF (SOLD)
temporarily boatless...
This is a "global Crisis".
liquidity is not getting into the hands of the people.
I have some some friends that run a clinic, and they say most of the healthcare corp
are not paying the patient bills, cause they cannot get a bank loan.
in my opinion this is far from a bottom.
I have to agree with you. My friend who has 30 people working for him in his business that hes had for over 30 years cannot even get a car loan as of today. The dow will have its ups and downs and maybe a big rally next week I sure hope so. No rally in the next two weeks were in big time trouble. I do like JNJ and loaded up on some today at 52.
it might rebound some Monday, but there's bigger problems down the road.
Recession's are Regional.
Depressions are Global, and this feels like the real deal.
bamaboy473, I respect your fire son, my point was this; the mortgage lenders should be held responsible for working out mortgage payments w/ regard to the present and future economy w/ the mortgagees. Otherwise we are headed into a finacial black hole that will rival the great depression. You see, credit lending betwwen banks, corporations, municipalities and consumers has become so tight that no one trusts anybody to the extent that we are choking each other for the worse. Think its bad now, wait till January 09,
If you guys think that the market is going to simply bottom and then start going back up again you are living in a dream world. there has been a complete breakdown in trust and confidence in the markets worldwide which will take years to repair. Couple that with the vapor locked credit markets and you will have several years stuck in a trading range.
Problem is for the past 10 years or so we have built an economy based on money that doesn't exist and debts that will never be paid. All of that will take lots of time to work its way through the system (now that it has been exposed) and there is no magic wand that the gov can wave to fix it and in fact history shows that most gov fiddling will prolong the pain. IF you are 50 or over you really need to be playing defense and thinking capital preservation.
Having said all of that, at some point this does become the buying opportunity of a lifetime, but IMO the way to take advantage is small, slow nibbles over a fairly long period of time.
Anyone one to stake me. Have no liquidity $$ to invest at the moment but believe it is time. Any deal will be considered with the exception of sexual favors (if the deal is right I'll talk to my wife about it, JK-no let's hear the deal)
bamaboy473 - 10/10/2008 8:54 PM
Well, the young people that bought houses and now one spouse lost their job and they get screwed because a normal re-fi isn't available. Somehow our kids should have known this could happen?
Yes.
Quote:
People our age buying a beach condo anticipating retirement and buying it on an interest only ARM...and now having to re-finance it because neither their old home has sold and their income has dropped and their condo doesn't appraise for what they owe on it?
Quote:
People using money from their 401K or IRA to buy investment property on a no-doc ARM because it was the smart thing to do...and now facing foreclosure because the same bank that lent $$ to them the first time won't re-up the loan despite a perfect payment record?
Quote:
[...] it was the smart thing to do
Did your face turn red when you wrote that?
Quote:
and now facing foreclosure [...] despite a perfect payment record
Well, its been a while since I commented on this forum, so lets go for broke, thats how Patton & Wayne would have it: The environmentalist and liberals have hamstrung us to the nines, so have the politicians, shocker, I am a capitalists, so, this is the deal, everything has been overvalued. Real estate, boats, RV's, jewelry, cars...etc. We are heading into at 3 -5 year learning curve of realization and valuation and it will not be pretty. #1 We need to WIN the war in Irag & Afghanistan and get oil flowing and soundly defeat terrorist or terrorism absolute. #2 Put a lid on Iran and N. Korea for perpetuity, Yes we need to be elitest and back them down for the whole world to see. Sometimes it pays dividends to be the linebacker on the block who will break your nose or worse. #3 Tell OPEC to work w/ Us or kiss a sh** load of money goodbye b/c we will drill, drill, drill and use ingenuity to defeat them. #4 All of those SOB's who made loans should be made to work out loan payments to the borrowers on their primary home. The speculators and investors will have to be reckoned with in a manageable accord. And Lastly, I believe the market is going to settle in at 6300 by god I hope I am wrong. - Capt. Winston
I am sorry sir, forum rules do not allow rational posts. I will give you a pass and not alert the mod's if you can avoid making intelligent statements in the future. Carry on.
Re: I'm Calling The Bottom
