5 replies to this topic

[eminimee]

Hmmm...maybe...bad news at the bottom???



http://stockcharts.com/c-sc/sc?s=$HGX&p=W&yr=5&mn=6&dy=0&i=p46028159718&a=91715896&r=3235.png

[ogm]

Nah, can't be. Real estate is obsolete. No one needs it anymore. Banks will never give anyone money to buy it anyway.

[beardown]

I was at a party everone talking about picking up foreclosures! reminds me of parties three years ago when it was realestate and in the late 90`s when it was stock!catch the falling knife?

[ogm]

I'm especcialy bearish on REIT ETF's Look at them sucking people in with that 12+% distributions. No way they can beat other great income investments out there. I have to admit I got suckered into NRI at 19.1, I figure if I hold it for 2-3 years from here, I'll probably recover at least half of what I'm about to lose on it in the next couple days. After all... There is no way the REITs will be able to raise rents, right ? Or those darn utilitiy ETFs with their 11% distributions. What a scam. Can't beleive I bought ERH the other day. I mean there are other great investments there that will make you rich overnight. And I'm bothering with this junk. To hell with real estate. There is so much more bad news there that we don't know.

[eminimee]

Well...it's 8 bucks off the low today....we shall see.

http://stockcharts.com/c-sc/sc?s=$HGX&p=60&yr=0&mn=3&dy=21&i=p30647368310&a=95078255&r=2321.png

[diogenes227]

Maybe for a bounce now but they still have a lot more downside to go in the next couple of years. These guys were and still are textbook shorts. See William O'Neil's "How To Make Money Selling Stocks Short." You have to go back further in time, to 2000, or 1996, to see where the base is. If the HGX doesn't go there, see the stocks themselves, LEN, RYL, KBH, TOL, HOV, etc. They were the internet bubble of this bull market and they will pay for that parabolic rise. BZH was at 80, now at 8. Doesn't that sound like AMZN, YHOO, or CMGI? The bottom ultimately is more like down around 110 on this chart. Short the bounce.