Smokin' Rally or Smokin' Crack

Quote from stock_trad3r:

Ben Stein of Yahoo Finance says subprimes not a big issue. He says:

"Today, the reason is supposedly terror in the subprime mortgage market. To put this as frankly as possible, this is just nonsense.


Even if subprime delinquencies and defaults are up, they're a tiny portion of total mortgages. Suppose 13 percent of subprime mortgages are in default. Subprime itself is less than 15 percent of total mortgage debt, so that means that roughly 2 percent of mortgage debt is delinquent or in default."

He also recommends a buy the dips strategy.

http://finance.yahoo.com/expert/article/yourlife/26744
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Subprime only is barely a scratch in it all...alt-a's thrown in would cause a bit of denting on some...after that look out.

In the meantime, if the average holds out and up's abound, looks like the S&P will be breaking 1500 before summertime :)
 
What I dont understand is if the subprime mortgage fallout wasnt as bad as everyone makes it to be than why did the markets drop like they did.
 
Quote from S2007S:

What I dont understand is if the subprime mortgage fallout wasnt as bad as everyone makes it to be than why did the markets drop like they did.
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Um hum ..the markets dropped on Feb 27th which was related to China; not subprimes.
 
Quote from stock_trad3r:

Um hum ..the markets dropped on Feb 27th which was related to China; not subprimes.
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Uh...it was actually fear in China about subprimes in the US.

For the record the subprimes aren't as big of a deal yet...once the Alt-A loans come crashing the crashing party it will get ugly...mass slaughter in the streets, wannabe RE agents and Starbuck's lattes spilled...gonna be ugly!
 
Everybody overseas is up....whoo boy.

Ahhh screw it; drive this f#$&( up again, crash below 1400, then buy it back up again :D
 
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