Hold on to any Money you have

[CARL GUZMAN]

Sixteen diferent lenders when BK this month and the big investors that buy subprime loans (thats B-C type loans ) all raised there minimum credit score to purchase a home from 620 score (stated income) to 680 -720 60%-70% of the public is already below that score that means there now is no one left to buy on a down market just when you thought it could not get any worse I don't know who's worse them or the greedy Insurance companies. It's seems to me like they almost planed it? now my prediction is a huge crash in the stock market to top everything off...that may have well been planed too enough conspiracy ideas anyone out there have a better day than me...

 

[Freebird]

I didn't know Burger King was in the real estate loan business.

Hold the pickles hold the luttuce special loans they don't upset us all we ask is that you lettuce finance your way!

I'm sorry BubbAmigo, I just couldn't resist. Don't worry, I'm hanging on to every dollar I can these daze! I've got a little rental house I need to sell too!

 

[Genesis]

I've shorted the bejeezus out of the sub-prime lenders and a few "so-called primes" too.

So far one (NEW) went boom (nice profit) and I've got several more open.

There's a way to make a shizload of money in a situation like this; you just have to be willing to play whatever side makes sense at a given time.

 

[CARL GUZMAN]

I always wanted to learn more about puts? and shorts? been a while but never got the chance , the problem is as soon as I get into it so will everybody els

 

[Boss Lady]

Carl, I have an ample supply of glass Mason Jars if you need to bury some money. LOL

 

[Freebird]

I have safes for Mason jars too!

 

[Genesis]

Well, if things go the way I think they will this is my "Next Hatteras" money being made on these trades

We shall see! Of course I might be wrong (which could be bad!)

Anything beyond buying mutual funds requires a LOT of study and a LOT of attention. The markets are faceless and there's is NO mercy when you blow it - I've had a "fat fingered" mistake cost me $5,000 in an INSTANT before (when I had to back out of a trade I didn't intend to make as a consequence of keying the wrong symbol.)

With that said there is no set of market conditions that don't offer the opportunity to profit if played correctly. The only "nasties" in reality are full-on SURPRISES where you can't react fast enough - those DO happen, but then again so does getting hit by lightning. MOST of the time, however, the truly nasty things (like the blowup in the tech sector) is, if you pay attention, something you should know about far enough in advance to avoid disaster.

 

[CARL GUZMAN]

PM me or call me in the morning , I had a feeling that New century was going out of business wast week and today they went form 50 bucks to 2 dollars a share. I'll pick the horses you show me how to bet

 

[nyrussell]

Okay guys, options are to be played only when you can watch the market real time, not on TV or on yahoo (etc.) I know, I watch the board now real time.

And if you do play, play with money you can afford to lose. BTW, my boss shorted New Century Last week too LOL.

Only people who didn't see it are the ones who took the loans :O

Noel

 

[Genesis]

Options, played WISELY, can be quite conservative.

Iron Condors and Covered Calls are not particularly aggressive uses of options. On the other hand naked writing is about as aggressive as it gets.

Options are just a tool; if you use a sledge hammer to bash your foot, its gonna hurt. On the other hand if you NEED that sort of hammering power, its very useful.

Don't blame the tools for poor results.......

 

[Mike53C]

Since this is a high finance thread, I wonder if some of you can recommend any of the programs or services that let you watch the markets, including emerging markets, in real time, on your PC. Would appreciate if I can have an idea of what they cost or charge in a monthly or weekly base...
I agree that watching TV or Yahoo or whatever, shows you what has already happened being to late to act.
Miguel

 

[thoward]

I can not remember the site right now but we started out with a fake account to practice with. We also had an account on another site that gave us access to the numbers and graphs. It was cool stuff to learn but out of the 5 of us who were doing it no one really made any money over the long haul.

 

[Genesis]

Investopedia has a "fake money" trading game you can play where you can place your bets and see what happens.

The only issue is that you cannot short options - this is a royal biatch as some of the more advanced strategies are closed to you, and some of THOSE are the best available when it comes to option plays.

But for STOCKS (buying or shorting) its a great learning tool.

 

[67hat34c]

Carl G. try this on for size. if the economy slows too much then fed will act and lower rates. this will in turn give the turd lenders a bigger spread on their money not lower rates and they will loosen up the policy a little. prime lenders will be able to offer lower rates and boost more re-fi or purchases.

granted the houseing market got way blown out of shape, some paid way too much and those loans are time bombs. Banks will have to come up with a resolution plan for defaults that can pay but not as much otherwise they are going to be in business of selling realestate instead of selling money.

 

[CARL GUZMAN]

I don't know whats going to happen but over half of my clients have scores under 680 probubly half the nation too, so if anyone thought it was a slow market now just wait till summer dolldrums

 

[Pascal]

i know that here condo prices are falling and thousands, of new units have yet to be completed. it's simply amazing around downtown... take a street you havent' taken in a few months, and you dont' recognize it !

the way so many people have been refinancing and "cashing in" (i love that expression !)... many condo owners are soon going to be jsut as upside down as new boat owners.

 

[Eventide]

Carl: I have been in the real estate market for 35 years and have also been buying mortgages for personal income for just over 25 years. I have never seen a market like this one. House prices are out of sight here in Florida (and they are not selling), insurance is ridiculous, property taxes are through the roof and now mortgage qualifying for conventional purchases and re-fi's has gone over the cliff. It is likely to be a long and difficult period coming up, and it has already been tough since late 2005.

That said, I chose to re-invent myself financially and was fortunate enough to have a dear friend who has been trading index futures for almost ten years, very successfully. He has liquidated his properties and the mortgages that he owned and now he just makes money daily by clicking his mouse. His goal is to make $1000 a day and then go boating. He usually makes his goal before noon each day, and he trades very conservatively. He is in and out of the market every day and has no money on the line overnight.

This is what I am doing now, too. This is within anyone's grasp - if I can do it then please know that anyone can do it.

It takes education, commitment and time. Mostly it takes a complete mental shift in your thinking. The education is not cheap, but education is cheap compared to ignorance. Do some research, do some homework. If you follow through then you can be earning a nice income by mouse clicking within six to twelve months. Good luck.

 

[Freebird]

Eventide, I am always willing to learn from a wise man. Give me a ring if you need someone to teach things like this to.

 

[Mike53C]

Day trading... this is what Eventide is doing....I would love to do it...this is one of the reasons I asked about real time info a few posts behind..I too would like to find out more about it.
Miguel

 

[ThirdHatt]

More power to you day-traders if that's your thing. It doesn't seem like there is a whole lot of research to do when you buy and sell the same day. That is more like gambling than investing, IMHO simply because there is no long term strategy to predict what a stock will do over time. Playing rallys on a daily basis seems extra risky to me. Don't you have to pay capital gains on all profits since they are so short-term as well?

Randy, you have proved to everyone here that you have made enough money selling safes. Let someone less fortunate benefit from this knowledge!LOL