I don’t know what your models are saying, Chris

[HereWeGo]

but the international markets are saying 8/1 will be a memorable day in the markets.

Ouch.

[TheBreeze]

Good lord. The Dow futures are down 170 points already! Anyone who is long this market is going to get destroyed tomorrow. Bring on the carnage, I say! We need to get home prices and stock prices back down to reasonable prices that make some sense.

[TheBreeze]

Good lord. The Dow futures are down 170 points already! Anyone who is long this market is going to get destroyed tomorrow. Bring on the carnage, I say! We need to get home prices and stock prices back down to reasonable prices that make some sense.

[Coronita]

And the bear’s come out kicking today about how right they are 🙂 Man, this site is turning into the Yahoo Message Boards.

[Coronita]

And the bear’s come out kicking today about how right they are 🙂 Man, this site is turning into the Yahoo Message Boards.

[lendingbubblecontinues]

let’s see….

“Yahoo Message Boards”–presumably several tens of thousands (hundreds?) readers/posters/viewers

vs

piggington.com–readership/posters/people who have any clue this wonderful resource exist…statistically insignificant

great comparison, though, fat_lazy 😉

[lendingbubblecontinues]

let’s see….

“Yahoo Message Boards”–presumably several tens of thousands (hundreds?) readers/posters/viewers

vs

piggington.com–readership/posters/people who have any clue this wonderful resource exist…statistically insignificant

great comparison, though, fat_lazy 😉

[Chris Scoreboard Johnston]

My blog has my most current view. I do agree that the price action is just awful. More or less I think we will get a bounce here, we are extremely oversold here, that probably fails to make new highs, and that is where my timing model will generate the exit. If you go back in the archives, you will see that I predicted a significant decline starting at the beg of August or thereabouts, so I was about a week off.

However, the commercials are still heavily long, which I did not anticipate when I made that prediction so long ago. As a result, I delayed that call as we approached the date, and as we now know, that was a mistake. They are not normally heavily long in August ( this is displayed on the blog chart), so that may delay the drop off. I am watching closely, make no mistake about it.

The overnight globex action improved a great deal from when some of these posts were made, so the open was not that bad. We are llooking at a short term buy spot right here, but it will not be long in duration, perhaps a few weeks.

[Chris Scoreboard Johnston]

My blog has my most current view. I do agree that the price action is just awful. More or less I think we will get a bounce here, we are extremely oversold here, that probably fails to make new highs, and that is where my timing model will generate the exit. If you go back in the archives, you will see that I predicted a significant decline starting at the beg of August or thereabouts, so I was about a week off.

However, the commercials are still heavily long, which I did not anticipate when I made that prediction so long ago. As a result, I delayed that call as we approached the date, and as we now know, that was a mistake. They are not normally heavily long in August ( this is displayed on the blog chart), so that may delay the drop off. I am watching closely, make no mistake about it.

The overnight globex action improved a great deal from when some of these posts were made, so the open was not that bad. We are llooking at a short term buy spot right here, but it will not be long in duration, perhaps a few weeks.

[HereWeGo]

OK, my jaw is currently resting peacefully on the floor. Maybe the big boys stared into the abyss and decided they’re not willing to fall just yet? I dunno.

[HereWeGo]

OK, my jaw is currently resting peacefully on the floor. Maybe the big boys stared into the abyss and decided they’re not willing to fall just yet? I dunno.

[Anonymous]

Let’s be realistic, you can throw away all the formulas and models right now. We are in the midst of an unprecedented institutional crash in the lending and housing industries.

A blind man could see this coming a long time ago. The obvious play has been to short housing and mortgage companies. We debated this on piggington over a year ago and those of us who went full bore into this strategy are now making a killing.

[Anonymous]

Let’s be realistic, you can throw away all the formulas and models right now. We are in the midst of an unprecedented institutional crash in the lending and housing industries.

A blind man could see this coming a long time ago. The obvious play has been to short housing and mortgage companies. We debated this on piggington over a year ago and those of us who went full bore into this strategy are now making a killing.

[anxvariety]

deadzone, well said.. in the past 2 weeks I’ve been given reason to quit my job, permanently haha. I’m sitting out for a bit because I’m about 5x what I would have been happy with when I set forth on a plan probably very similar to yours. Yesterday I tried to get into these before market close but just missed it… LOL
http://finance.yahoo.com/q?s=TMATD.X

Now a complete collapse almost looks priced into some of this.. so I’m hoping theres a run or something so I can get back into the builder mortgage puts.

[anxvariety]

deadzone, well said.. in the past 2 weeks I’ve been given reason to quit my job, permanently haha. I’m sitting out for a bit because I’m about 5x what I would have been happy with when I set forth on a plan probably very similar to yours. Yesterday I tried to get into these before market close but just missed it… LOL
http://finance.yahoo.com/q?s=TMATD.X

Now a complete collapse almost looks priced into some of this.. so I’m hoping theres a run or something so I can get back into the builder mortgage puts.

[Author]

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