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The SPX dropped 150 points since that article was written Feb 9, 2009. :D What is that, about a 16% drop in 12 trading days or so?

They're overvalued. Next real support level for the SPX is 300 (450 if you are extremely optimistic). SPX at 300 is only 22 years worth of value, which, coincidentally, is just before Alan Greenspan started to work his magic at the Fed.

I'm short everything until 2012.

Friends and family? You don't have any of that or just can't emphasize? Read the WSJ article I posted earlier in this thread. I know probably a dozen different families that live there. They are screwed. Unless something happens, they foreclose, go bankrupt and quit paying all their debt...

Actually, I'm not in that position. I have two houses in Phoenix. I'm getting tired of watching foreclosures go up as housing prices go down. And since I've owned them for 12 years (pre-bubble) and since I didn't skim all the equity off my houses during the bubble, the current housing...

Hedge. And the underlying doesn't need to drop all the way to $2.50 for the buyer to make a profit, if it's not a hedge.

Poperly collateralized? What's that? Judging by their actions, lenders thought housing prices were going up forever, just like buyers.

Trade666, please quit posting pictures of yourself on the internet. I'm getting tired of looking at your ugly mug.

CNBC is usually on, but with the sound off. Bloomberg is always on. I can't watch MSNBC or Fox News. I have no use for closed-minded, biased "journalism," which is extremely hard to avoid on television.

Bush was the best president in the history of the world. I already miss his leadership. http://www.youtube.com/watch?v=8Ux3DKxxFoM

I see the U.S. calling off the dogs for awhile. Further destabilization of the region will aggravate an already volatile situation. Although, even if the IRS backs off, it's rumored that UBS is near the brink anyway, so it might not matter.

It wasn't a bad speech, especially compared to that clown from Louisiana. What was the point of that guy talking? Did he want me to buy something? Do infomercials normally follow state of the union speeches or was this a special case? In this environment, I really don't know what a leader...

There's no doubt. That how they came up with the idea of the show, too. They were all sitting around, blown out of their minds and tossing around drug-induced ideas at each other. "WE'LL TALK REAL LOUD!" "And fast, too. Get it? It's fast money!" "And let's invite people to the...

The only reason these people are getting help is because the banks will drop if the don't. If the banks, with some of the most experienced and highly compensated employees in the world, would have kept their financial house in order, help for those unable to pay their mortgage would have NEVER...

Yeah, that house is worth $200K in most parts of the country, less than that if you factor in the neighborhood. I didn't catch the location. I'm assuming it's in L.A. where the housing market was too high before the bubble even started. You could move to Maricopa AZ and buy that house for...

Long Ben? The market normally tanks after he speaks. An oversold condition sparked a bear rally, nothing more, nothing less. Just because the CNBC talking heads are clueless, it doesn't mean you have to be clueless too. If the market would have tanked, Santelli, Cramer and all the other...

Perception is everything. There's a reason it's called a "depression" and not an "extended decrease in economic activity due to a business cycle." All these Chicken Littles that run around screaming the sky is falling are just fanning the flames.

thats right, brother. i aint got no time. to busy building my portablefolio. i got a 5 gal bucket i use to crap in......try to keep it covered during busness hours......lol..... these dummys think there special cause they know 8th grade spelling...pftttt...what ever...

If the program were run by God and/or angels, poverty wouldn't exist. Unfortunately, it's just normal, flawed human beings running things, so I say we take action with our own hands and end the cycle—or at least slow it down some.

I'm all for forced sterilization. The right-wing religious nuts will never go for it, though. Can't get them to go for abortion, either. They rather just bitch about welfare.