Seattle Bubble Forum Archive

MarketWatch
Stocks are headed for a fall
Wednesday February 21, 10:54 am ET
By Irwin Yamamoto

"The housing industry remains on the verge of a massive collapse. In our estimation, this real estate debacle is only in the top half of the second inning of a nine-inning ballgame."

read this article, its great.




http://tinyurl.com/yuxcq3

I saw that yesterday and almost moved everything to cash after reading it, but decided to hold out. With Nikkei well above 18000 tonight and my long-term investment philosophy to hang on rather than try and "time the market", I figure I would hang in and weather the storm rather than panicking and making mistakes. Most other sources I've read call for a 10% correction in the next year (or sooner).

What did you guys buy? I've got puts on FMT, LEND, PMI, WCI, HD, WM, DELL... most purchased prior to this week and Jan 08s, but a few a lot closer in.

Dow was down almost 540 points at one point today. Wow!

On Friday 2/23, synthetik said that a 'black monday' type of event was highly likely.

On Tuesday 2/27 we came pretty darned close.

Not bad shooting. Not bad at all...

Yeah, I suppose for a "Black Monday" we'd have to lose about 2500 points off the DOW?

Still, a "good" start. LOL

Burn baby, burn.

I got Russel ishares puts at 82 last week. Burn indeed. Its not that I HOPE the bounce today was an aberation... its just that I THINK it is. This isn't over yet.

Evidently stocks have "normalized" and Cramer has called it a "huge buying opportunity"

Personally I think this is the beginning of the end. No telling how much Bernanke's comments will "help" to further sustain this insanity.

My guess is that by next week we'll be seeing more big drops and volatility.

Normally I like Cramer, but he of all people should know not to try and catch a falling knife. I've read his books and he is actually spouting differnt stuff than what he preaches in his books. Don't know what gives with that. and I don't agree with him, unless he is simply stating in future terms as far as buying opportunities are concerned. If course, you still have to be very picky.