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Dow Up 250 Ish, Ftse Up 100 Ish


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I think it will bounce. The markets have a herd mentality, so if it goes up, a few more people will join tomorrow, and a few more will join on Thursday etc etc. Lots of investors wait in the wings and then panic when they think they might miss the bottom, and up she goes again. People go from having lost all hope to having hope they could actually make a fortune.

The market has droped from 14k to 6.5k remember, it could bounce by quite a bit. My money is on a bounce - I mean that literally too.

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I bought housebuilders yesterday, Bovis / Barrats / Persimmon and Redrow.

As the banks are being forced to lend then mortgages should be easier plus any financing worries should be eased.

I think the rally has some legs, yesterday it just couldnt breakdown and it looks like it was oversold.

I think this is a turning point, at least for now.

Wrongly or rightly I think it is going up.

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I bought housebuilders yesterday, Bovis / Barrats / Persimmon and Redrow.

I think the rally has some legs, yesterday it just couldnt breakdown and it looks like it was oversold.

You mean two of them this won't help.

Moneyfacts say, " in July 07 there was 9,600 mortgages for sub-prime borrowers, today there

are 220". No sub-prime = house prices just keep on crashing.

Edit, the bit about the banks lending seems to have vanished as this was what is was referring to.

Edited by time 2 raise interest rates
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Financials and basic materials are the two main gainers so far today. I'm not sure about the basic materials sector but it would seem the financials have trampolined off the better than expected earnings information from Citigroup. That is a single bank who's CEO seems to have crafted a memo specifically to help his battered share price.

How people have interpreted this as a sign that the recession is over is beyond me but at the same time is unimportant. A bounce was widely expected for some time now, those wanting to trade it would have gotten their long positions sorted out before now. They can revel in the fact that the herd instinct is hurling money at them.

On the other side though, if the negative fundamentals do not change to positive fundamentals while the bounce is in progress (more or less impossible as they're such great problems), then we can equally expect another devaluing of the index. For those who did not get in on time for the bounce there is the option of going short instead.

To come back to the herd instinct that is likely driving today's gains for a minute; I read recently that brains release dopamine when people conform to a societal norm or herd instinct. Dopamine is something that brains like to get. It makes people feel happy.

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I bought housebuilders yesterday, Bovis / Barrats / Persimmon and Redrow.

As the banks are being forced to lend then mortgages should be easier plus any financing worries should be eased.

I think the rally has some legs, yesterday it just couldnt breakdown and it looks like it was oversold.

I think this is a turning point, at least for now.

Wrongly or rightly I think it is going up.

Don't be fooled! To name a few points to remember....

- The banks are insolvent.

- AIG.

- The economy in Europe hasn't collapsed yet, but it will for sure.

- GM, Ford, Chryler and the car industry in general.

- CDS and Credit Cards are fooked.

- Unemployment hasn't even started.

- The property market "trippled" in value in 10 years for no reason other than the LIAR LOAN ponzi scheme.

- The average Joe on the street has no money, only credit card debt and massive mortgages they can't afford.

....and a million other reasons as to why this won't last in the medium to long term :ph34r: .

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There's one asset class that's not doing so well today - who wants to bet how long this thread lasts after the first person mentions it by name?

(mostly I just wanna see SP500 June calls ratchet up a few gains so I can claim to be one of the cool kids too)

Talking about kids....

Golden slumbers kiss your eyes

Smiles awake you when you rise.....

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Don't be fooled! To name a few points to remember....

- The banks are insolvent.

- AIG.

- The economy in Europe hasn't collapsed yet, but it will for sure.

- GM, Ford, Chryler and the car industry in general.

- CDS and Credit Cards are fooked.

- Unemployment hasn't even started.

- The property market "trippled" in value in 10 years for no reason other than the LIAR LOAN ponzi scheme.

- The average Joe on the street has no money, only credit card debt and massive mortgages they can't afford.

....and a million other reasons as to why this won't last in the medium to long term :ph34r: .

No im not fooled but ... the rights and the wrongs maybe wont stop the market going up some.

Hopefully I can time the exit, as if.

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