San Diego Housing Bubble News and Analysis

nah, don't worry. Helicopter ben's gonna bail us out this week. Trust me :)

And guess what? Now's a great time to start going inverse on the euro....

Some of the european banks are already considering dropping rates too.

It is gonna be a race to the bottom.

You know, it would be interesting to see if european nations don't start bringing back their own currency :)

hahahahaha... Europe decoupled from the U.S. hahahahaha... That's a good one.

Oh, and can't wait for the real estate floor to come falling out in China. That one's gonna be a doosie. Fortunately, yes, I'm out of that even more ridiculously corrupt/screwed up/red-taped market more so than the U.S.

Why is oil at 92 bucks?

Simple... If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn't need to be poured into energy to power all those factories that produce all that crap we buy from china.

Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.

Good chance of unscheduled rate cut before market open tomorrow. (My rate cut forecasting record is very poor, but I'll keep trying till I hit the mark)

Fed funds futures are showing a 84% chance of a 50 bpp cut and 16% chance of a 75bpp cut on or before 10/29.

Strong dollar benefits no one.

Russia is down 13% again. Germany is down 5.3%, Hong Kong down 5%, Singapore down 5.6%, oil is below $90.

I've pulled a lot of money out of an emerging markets mutual fund last November, back then it was $20. It looks like it might go below $9 tomorrow.

Woo-hoo!! So glad the bailout passed so we can avoid market crashes!!! Yippee, we're SAVED!!!!

Oh, wait...

4 AM and I'm looking at the pre-open numbers overseas, and at the futures on US indexes.

Scary numbers. I'm running for cover, entering sell all orders to execute tomorrow morning.

LOL Dow down bigtime 300 points we're sub 10000 for the first time in a long time...woohoo...Stockstrader, please let me know when you're out long....Then I'll buy again.....:)

Never mind. I'm in
GE (adding) $20.10
HPQ $42.24
PM (adding) $48.19
Shitibank(err, i mean Citibank) $17.29
AXP $29.84
Nvidia $8.19

Don't worry folks, Uncle Ben's gonna save us...Pretty soon, it will be -1.0% where the fed pays you to borrow money...

Edit...err... make that dow down 400 points....
And adding more PM, at $46...Errr oh, ok more at $45...Error. How about $44.82...Oopps.

Edit... ponying up....Buying DRR....
Ultrashort euro....:)

make that dow down 500 points..

Well congrats Obama supporters. Looks like this is the nail on the coffin.

dow down 539 and its only 7:50 in the mornining

like oct 7 1929

WHERE IS MY FED!

FED BOOSTING TAF LIQUIDITY AUCTIONS TO $150B EACH; ALSO INITIATING PLAN TO PAY INTEREST ON BANK BALANCES - Fed and Treasury are considering ways to boost term unsecured funding markets as well. Fed pledges to raise money market liquidity as needed.- Fed will allow limited bank purchases of assets from money market mutual funds

oh there u are.
i will go back to bed now.

good luck today
im not in any kind of stocks

re post

Below 10000, wow, not good.

Better make sure those circuit breakers are all ready.
http://www.nyse.com/press/circuit_breake...

Can someone explain why, a priori, the "Federal Reserve" would be so concerned with the goings on in the "Stock Market"? I mean: if you were setting up a brand new nation, would you expect the former to be so interested int the latter?

not gonna happen (yet) me thinks...Fed still can cut rates to 0% :) After that, all bets are off. I wouldn't be surprised if we end today back in green on a whisper or rumor..

Don't play this game if you're not going to acknowledge might end up losing it all.

Cramer just advised on NBC to sell if you need funds within next 5 years. He expects market to drop 20%. (DOW 8000).

This will have ramifications
.
http://www.smartbrief.com/news/sifmaglob...

Market to set price for settling $500 billion in contracts

SIFMA GLOBAL SMARTBRIEF | 10/06/2008
Through a series of auctions due to be completed today, the credit derivatives market will determine the price -- known as the recovery value -- for as much as $500 billion in Fannie Mae- and Freddie Mac-related contracts. "The operational risks of having [the biggest auctions ever] in an extremely risk-averse market lead us to think that recoveries may be lower than the market expects," said a Citi analyst. Financial Times (10/05)

http://globalguerrillas.typepad.com/

If we look at today's global environment we see a relatively high performance system driven by real-time global markets and rapid technological progress. Its performance explains why it is spreading so quickly. However, it is also moderately unstable. In our drive towards higher levels of performance we pursued a path of rampant global interconnectivity that has quickly outpaced our ability to dampen excess. The old dampening functions of borders, distance, government, etc are quickly fading. The result is a system vulnerable to rogue feedback. Even a small amount of it can cause global reverberations....

This conclusion also calls into question the efficacy of the idea that merely increasing connectivity is an answer to our problems. Increasing connectivity too fast, in a system without intrinsic dampening or control systems that work, will only accelerate the chaos (human nature doesn't change as fast as technology).... Also, the complexity of this system puts the lie to the idea that we know how to actively dampen its behavior through centralized systems of control. We neither have the scale nor the collective intelligence to pull it off. The only real solution rests on redesigning the system itself, to enable it to become more tolerant of rogue feedback...

And we know what happens when Cramer advises common folks to do something :)

Lehman's Fuld...

" naked short sellers spread rumors and ... drove the pices down... blah blah blah"

Effin Clown. RU kidding?

As Rich has pointed out... the whole mess was fundamentally unsound. And now it unravels.

Damn the short sellers?? wow. lame.

Helicopter Ben? He needs at least a Boeing 747. In fact, Airbus A380 will do better.

Enough of these mickey-mouse days of only -8%!

Out of morbid curiosity, a lot of us want to see NYSE "circuit breakers" kick in. See link. It ain't gonna happen today. We need -1100 pts on DOW in one day to "ring the bell"

http://www.nyse.com/press/circuit_breake...

I mean, IF we're gonna have a bad day on Wall St. it might as well be a "doozy" of a bad day

It is kinda like standing at the county fair and seeing guys swing the big mallet in the "strong man game" to try and ring the bell on the high striker. We all wanna see the bell get rung good!

We wanna see some real action. Give us -15% in one day. Give us some stories to tell our grandkids about! Let's see the bell get rung!

It's already 2:47 in NY, so we need -2200 for the circuit breaker to kick in.

I double-dare ANYONE to step in now before close and buy stocks long in a big way. Come on be a hero for the rest of us!

I absolutely do NOT have the gutz to step into the inferno today and bet long against THIS market.

I feel like I got my ass kicked trying that last week. i'm still licking my wounds.

Today we're within reach of another "round number" - the S&P500 crossing into a three-digit land. It would be nice for the Dow and the S&P to lose a digit on the same day.

S&P500 below 1000 would take us back to January of 1998. Good old days. Bill Clinton was publicly denying on TV that he had sexual relations with Monica Lewinski, regular gas was $1.25 per gallon, and "Truly Madly Deeply" was the #1 Billboard hit.

What do you think about going long NASDAQ before market close?

Bring the pain!!!

I'm buying. But then again, I've got 30 years to make my money back.

"No pain, no palm; no thorns, no throne; no gall, no glory."

GOOG at $360! nice price for a nice stock!

Ah, but I don't have the gutz.

As some morbid folk have said today,

"When it gets to THIS level of panic, then the next buy signal is when you read of significant 'jumpers' doing a last swan dive outta the windows of Wall St. skyscrapers. THEN you know it is time to BUY stocks again!"

I call your dare....LOL...recession here we come....
Bahhhh bahhhh bahhhh bahhhh.

Hey just curious, did you get out around 3pm today? Because I noticed at 3pm, dow was done almost 800 points ,and then suddenly moved up 500 points. :)

10/06/2008 Buy PM PHILIP MORRIS INTL INC [Details] $45.11600 *
10/06/2008 Buy PM PHILIP MORRIS INTL INC [Details] $46.60000 *
10/06/2008 Buy PM PHILIP MORRIS INTL INC [Details] $47.46000

10/06/2008 Buy C CITIGROUP INC [Details] $17.26000
10/06/2008 Buy C CITIGROUP INC [Details] $16.26000
10/06/2008 Buy C CITIGROUP INC [Details] $16.56000

10/06/2008 Buy AXP AMERICAN EXPRESS COMPANY [Details] $29.69000 AMERICAN EXPRESS COMPANY [Details] $29.68000
10/06/2008 Buy AXP AMERICAN EXPRESS COMPANY [Details] $28.58000
10/06/2008 Buy AXP AMERICAN EXPRESS COMPANY [Details] $27.88000

10/06/2008 Buy GE GENERAL ELECTRIC COMPANY [Details] $20.21000
10/06/2008 Buy GE GENERAL ELECTRIC COMPANY [Details] $19.89000
10/06/2008 Buy GE GENERAL ELECTRIC COMPANY [Details] $19.79000

10/06/2008 Buy NVDA NVIDIA CORP [Details] $8.12000
10/06/2008 Buy NVDA NVIDIA CORP [Details] $7.32000

10/06/2008 Buy DDR Market Vectors Double Short Euro ETN $51.208

Except what google investors are going to find out the hard way that besides advertising, they haven't yet figured out how else to make money...AKA Yahoo 2.0 redux...

I think I'm one of the few who are still buying. ^_^

If we close the S&P below 1100 for the week, we'll probably get a 6 week rally. It's a historical event at this level.