Posts Tagged ‘home buyers’

DID WALL STREET SHAFT MAIN STREET?

DID WALL STREET SHAFT MAIN STREET?

Courtesy of The Pragmatic Capitalist 

foreclosures

I am so torn on the foreclosure debate.  On one side, you have homeowners who made bad bets and are now getting kicked out of their homes and onto the streets – that’s a horrible thing no matter how you cut it.  On the other side you have the big banks who also made bad bets, but arguably made these bets in good faith.  They were essentially building models based on the fact that US housing prices never go down – totally irrational in retrospect of course, but at the time this did not seem so crazy to most people (aside from yours truly who advised his parents not to purchase several houses in 2006 and was ignored).

The homeowners obviously made a bad bet, but I find it hard to believe that the banks were intentionally trying to fleece the American public.  After all, if they had known that 2008 would occur they never would have sold all that bad paper to one another.  It was more a case of greed run amok.  The fees and income generated from this business were too easy, too consistent and too abundant for any greed loving banker to ignore.  Likewise, the homeowner wanted to profit from rising home prices and did little due diligence on the most important purchase of their life.  The banks were equally ignorant in that they clearly did not do their due diligence either (some of the banks hedged their exposure which seems like a prudent thing to do after the fact.  Whether that was legal or not is not for me to decide….)

At the end of the day it seems like a lot of people made bad bets and now they all want a government handout. And the government appears to be willing to give it to them.  In other words, it’s more capitalism without losers.  And now that the bankers got their bailout Main Street feels entitled to one as well (and rightfully so).  I know it’s probably a harsh thing to say, but when you make a bad bet you have to face the consequences of that bad bet.  One of the reasons I believe the US economy is such a mess right now is because we’ve attempted to create a marketplace where no one ever loses.  It’s a ponzi approach…
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THE ONLY NEWS THAT MATTERED TODAY

THE ONLY NEWS THAT MATTERED TODAY

Courtesy of The Pragmatic Capitalist 

Iconic Houses

There were only two stories worth paying attention to this afternoon.  The first was the increase in inventory in the existing homes sales report. A positive read on actual sales was largely expected for this month as the home buyers tax credit ended in April, but the continuing rise in inventories is further concern that the shadow inventory will continue to come on the market in the coming months.  We have detailed the outlook for housing and continue to believe the pressures are mounting in real estate. Today’s surge in inventories is worrisome to say the least. Home sellers are clearly trying to sell into the brief strength we’ve seen in housing.  The massive supply on the market is not a good sign for what is likely to be lower and lower demand as the year wears on.

The other story of note is the CajaSur Takeover in Spain.  The Spanish central bank initiated the takeover this weekend. The move rippled thru the credit markets as investors begin to see real signs that the sovereign debt crisis is impacting the banking sector. The Ted Spread jumped to 36.96 on the news and banking stocks were down 2.85% on the day.


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Zero Hedge

What The Wage Equality Crusaders Don't Understand

Courtesy of ZeroHedge. View original post here.

Authored by Brittany Hunter via The Mises Institute,

Women in the workforce are constantly bombarded by rhetoric intended to make us feel less appreciated than our male colleagues. Politicians and Hollywood celebrities - many of whom have never worked one day in a traditional office setting - seem to take great pleasure in telling females that we are victims of the alleged gender wage gap.

Asserting that today’s working women make only 78 cents for every dollar earned by a man, high profi...



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ValueWalk

New Poll: Record number of Americans want MORE government in their lives

By Sovereign Man. Originally published at ValueWalk.

In a poll conducted a few days ago by NBC News / Wall Street Journal, a record 57% of Americans responded that they want MORE government in their lives, and that the government should be doing more to solve people’s problems.

That’s the highest percentage since they started asking this question in 1995.

In fact, 57% is nearly double what people responded in the mid-90s.

forium / Pixabay

Furthermore, the number of Americans who feel the opposite, i.e. responded that the government is doing too man...



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Phil's Favorites

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

China Risks Spoiling Global Markets Party as Stocks Tumble Again (Bloomberg)

While global risk appetite returned on Monday on the heels of France’s presidential election, shares in China bucked the trend, dropping the most in three months. The Shanghai Composite Index has lost almost 5 percent since its mid-April peak, worse than all other national benchmarks in the world.

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, CHOO) (Business Insider)

The currency trades up 1.2% at 1.0859 versus the d...



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OpTrader

Swing trading portfolio - week of April 24th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Kimble Charting Solutions

Fear Index tanking, after hitting this resistance!

Courtesy of Chris Kimble.

Below looks at the VIX (Fear Level) over the past few years. A rally had taken place in the VIX, driving it up to falling resistance and its 50% retracement level at (1), in the chart below.

CLICK ON CHART TO ENLARGE

We shared the chart above last week on Twitter last week (S...



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Digital Currencies

BDC's Crypto Corner

Hello fellow PSW-ers, it's biodieselchris here. I've been interested in cryptocurrencies (informally, "cryptos" or "coins") since 2011 when I first heard about Bitcoin, Since that time I've become somewhat of a subject matter expert and personal investor in Bitcoin and other alternative cryptocurrencies ("altcoins"). I have even started one of my own!

I've been posting comments about cryptos in Phil's daily post from time to time. Recently, Phil and I got on a call and he asked if I would like to run a blog on his site specifically about cryptos, which I thought was a great idea. My goal would be to educate members on what I know about how coins work, how I research coins (what I find interesting), how exactly one can invest (buy, hold, and sell) coins and a basic, easy-to-follow general how-to on all things crypto. In addition, other members have expressed an interest in learning more directly...



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Chart School

The Tax Cuts are Coming! It's the Stock Trader Weekly Recap.

Courtesy of Blain.

Forgetting the traditional market news, as we began last week both the NASDAQ and Russell 2000 were at critical support.  A rally Monday showed those support levels held, giving bulls breathing room.  We’ll discuss this more below after we get through the more fundamental news items that transpired.   Traders seemed to breath easier on Monday seeing no escalation with North Korea and came in ready for a bit of a relief rally.

The lack of a nuclear test from North Korea over the weekend did much to reverse defensive positions adopted by traders heading into the weekend, said Ian Winer, director of equity trading at Wedbush Securities.

It was a very heavy week of S&P 500 type earnings with banks leading the way in the first half of the week. Then a series of large sized companies ac...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Wall Street gears up for busiest earnings week in years (Reuters)

Corporate America is set to unleash its biggest profit-reporting fest in at least a decade next week, with more than 190 members of the S&P 500 index .SPX delivering quarterly scorecards, according to S&P Dow Jones Indices data.

Draghi Says ECB Hasn’t Seen Evidence of Durable Eurozone Infl...



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Members' Corner

Should I buy that stock?

Courtesy of Phil Stasukaitis (pstas)

I was asked by my local investment club to do a presentation on "how to buy a stock?" As I pondered the question, I began by noting all the elements that I monitor regularly and which come in to play as part of my decision process. As the group is comprised novices to experts, I tried to gear my discussion to cover both basics and more advanced concepts.

Four Part Discussion

  1. Macro Economic Indicators
  2. Market Indexes
  3. Fundamental Analysis
  4. Technical Analysis

1. Macro Economic Indicators

We'll start with reviewing some basic concepts and measurements that have direct effects on the stock market. 

A. Gross Domestic Product (GDP)

...

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Mapping The Market

Bombing - Right or Wrong?

Courtesy of Jean-Luc

I am telling you Angel – makes no sense… BTW:

Republicans Love Bombing, But Only When a Republican Does It

By Kevin Drum, Mother Jones

A few days ago I noted that Republican views of the economy changed dramatically when Donald Trump was elected, but Democratic views stayed pretty stable. Apparently Republicans view the economy through a partisan lens but Democrats don't.

Are there other examples of this? Yes indeed. Jeff Stein points to polling data about air strikes against Syria:

Democr...



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Biotech

CAR-T & CRISPR - the Future is Now

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

PSW Members....it has been a while since my last post, but since many have all been on the board following the chat, it is time for a scientific lesson in a few of the companies we are long.  In addition, another revolution is coming in the medical field, and it will be touched upon as well.

CAR-T - stands for Chimeric antigen receptors (CARs) and the T is for T-cell.  

From the picture above, T-cells are one cell type of our immune system that fight off infection as well as they are one player at keeping rogue cells from becoming cancerous. Unfortunately, cancer somehow evades the immune system and so it begins.

CAR-T came along in the late1980s via a brilliant scientist, Zelig Eshhar...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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