Holy shit bonds are soaring now. Be patient, prospective home buyers. You will be able to get a 30 yr mortgage for less than 3% in no time at all.
The initial market reaction is ALWAYS wrong on Fed days. I’ve warned you about this countless times. The news by the Fed was as expected and frankly not enough, in my opinion. However, it’s important to note that Ben Bernanke just outed his cigar on the faces of the GOP.
Fuck you GOP. Ben’s pimp hand is indestructible.
The outlook is bad and you should take heed to the Fed’s warnings. At a minimum, this means no margin accounts or large directional longs bets through derivatives. Eventually, this market is going much, much lower.
However, I am not against a little cocaine induced relief rally either.
For now, I am in a holding pattern, still with 30% cash. Earlier today I added to my AG position. But precious metals are now under pressure, as TLT goes fucking gangbusters to the upside.
Fuck. I should have held it.
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First!
Armageddon !!!
I figgad nothing dramatic like QE3 would be announced.
I’ve been short pretty heavy here and it’s working. Loving it!!!!!
oh the drama
Anyone gets in my way I’ll punch their mustache all the way to greece. TLT is king and everyone will do the Hugh.
According to CNBC the market took off in 1961 the last time the FED did the twist.
I was too busy pulling on Suzie’s pony tail who sat in front of me in 2d grade.
Back to the Yankees -Rays game.
holy christ your as young as i am
We were going up to the best time of the year (in a week or two).
Running from school to watch the World Series on our black and white Philco TV- yes afternoon World Series games.
Ford,Koufax,Mazerowski,Berra,Mantle,Mays,Banks,etc.
You forgot Bob Gibson … killed my Sox!
… with Dizzy Dean and Pee Wee Reese in the press box calling the game !
.
Curt Gowdy & Pee Wee … Dizzy was a CBS guy and NBC had this series.
… from 1960 – 1965 with Dean on CBS !
… from 1966 – 1968 with Gowdy on NBC !
—
Wiki Pee Wee Reese !
You’ll see !
.
1967 … Hello?
Ken Coleman and Harry Caray too!
Hey, you’re over 47 1/2, to the banned mobile with you!
TC
the problem is that it’s not adding money into the system and the real issue is that NGDP is too low while it should be around 5.5%.
This won;t do anything much.
Refi boom, son.
Instrument See More Instruments Direction BP Price
Ginnie Mae 4.0% -30 year Up 53.1 at 107.25
Fannie Mae 4.0% -30 year Up 62.5 at 105.093
Fannie Mae 3.5% -15 year Up 28.1 at 104.937
Fannie Mae 3.5% -7 year Up 9.4 at 103.765
Ten Year Treasury Note Up 56.2 at 102.25
30-year Treasury Bond Up 296.9 at 113.828
operation twist can’t cause a refi boom on a wide scale as alot of the problems preventing refis are underwater mortgages, newfound desire for and such.
someone needs to step in and allow underwater mortgages and so on to refi. which would hurt mortgage reits and help the economy at large.
If the loan is owned by Fannie or Freddie, you can refi your underwater mortgage, up to 125%. See Rick Ross.
If you owe more than 125% of the value of your home or if you are underwater on a non Fannie or Freddie loan, see Rick Perry.
Uh, no you cannot. Unless your FICO score is >785 which is a pretty high bar to meet given the maximum is 850. According to myFICO.com, a division of the Fair Issac Corporation, only 13% of the U.S. population has a FICO score greater then 800.
Read more: http://www.investopedia.com/ask/answers/07/FICO-score.asp#ixzz1YdTfuFCJ
yup,they did exactly as planned. nothing.
We get the Flash PMI’s out of China and Europe tonight. They should continue to be SUPER UGLY…so no relief for you this time.
We are all dead.
THE only thing benji gonna twist is his own ankle
Fly, you really think 3%??? I will wait to refi….
Good thing next week is end of the quarter window dressing.
Fly was right again. Few weeks back he said the fed was going to reinvest in mortgages again
I’m feeling really fucking nervous right now! Hopefully that’s a “close to the bottom indicator!”
Existing home sales up big in August, bottom for housing in by 2012. China will stop tightening and the market will rally to new highs.
Thanks Uncle Ben!
I read somewhere that the government taking over a loan counted as a sale. In fact, a house may be “sold” 3 or 4 times in rapid succession as it is passed off between various agencies.
Bloody October is coming……
AAPL is the stock equivalent … to the “Viagra induced erection” that lasts for longer than 6 hours !
It just WILL NOT GO DOWN !!!
Someone call a Doctor for Gawd’s sake !!!
.
Looks like today belongs to verne troyer
Today was … “Shagadelic” !!!
.
Hooly chit mang Art Cashin was right SP 1050
I sent an email to Renesola Investor’s realations inquiring about their business,
Here is their reply;
Dear JTU,
The shares are indeed beaten now and we can assure you that the company is sound. While fundamentals in the entire solar industry are not great, we believe that sooner or later, the industry will recover. We believe that there is a good probability, that we will see a repeat of the events which occurred in late 2008 and 2009 with stocks in the solar industry. As such, this may be a good time to get in. That said, there is of course plenty of uncertainty in the market and solar industry right now, and it is perfectly possible that things may get worse before they get better.
Renesola Investor Relations
Fuck! Lloyds of London pulling all their cash out of European banks, U.S. banks getting downgraded, everyone talking shit! It doesn’t look very good!
LOVE that BULL-TRAP yesterday !!!!
SP futs break 1170 level
Buy whatever on your list is getting pummeled the hardest. We are not all gonna die!
I have a buttload of (not homo) WNR now.
dude, you must hold on to your weiner …
“…TLT goes fucking gangbusters to the upside.
Fuck. I should have held it.”
Preaching to the choir there Fly.
fuck, fuck, fuck, I need to jump out of my window and I have no fucking parachute !!!
This market is killing me !!!
Jose, Man Up. Money comes and goes. Heck I have been short for so long..now that is true pain, but I have had a dump smile on my face thru all of it. Controlling your emotions is Rule Number One to all of this..this is such amazing game that even when it smacks you in the face it is fun.
I imagine that smile smells pretty bad?
i hope no one commit seppuku….