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Here is a scenario that is unreal but true. It's happening to a customer of mine.
The house you purchased 3 years ago for $525,000 @ 3.6% is now worth $300,000. But attempting to sell has only brought a high offer of 225K.
You still owe 500K.
Your original loan at 3.6 has now reset to 7.99% and your payment has tripled. On top of that, you are late paying one month and the late charge is 5% of the payment plus a late charge.
Now to the cars.
2 years ago you went and bought 2 brand new mid size ford cars at 17,000.00 each and financed them together at 0%. But the loan has a stipulation of universal credit default. So your missed mortgage payment has made your loan increase to 8% and the finance company sends you a new payment book reflecting the new loan terms. The payment has doubled.
Now to the credit cards.
16 credit cards, high limits but almost no balances. Total available open credit is in excess of 250K. 1 chase card has a limit of 35K.
But because of the missed mortgage payment the rates on most of your cards start to go from 12% to 17.9, some even go to 20%. And the credit limits are starting to drop.
and finally your income.
You are a department manager at kroegers. You make 27k a year. you husband or SO works in a factory and has a salary of 45K a year.
And the kids. You have a 16 year old daughter and a 8 year old son. Expenses galore.
zee
zee
Troy--
If you heard of San Luis Obispo--?--
I have friends there with many many friends in the same kind of boat---
Now I see why they are so upset---
That town on the last city elections voted in ALL Realtor's---
I think this next election---all those people will be replaced---
Gawd--they might even be replaced by Democrats--
zee
Bond-insurer woes may trigger more write-downs
Doubts on AAA ratings for Ambac, MBIA spark turmoil in muni bond market
http://www.marketwatch.com/news/story/bond-insu...
WFR Jan 24 after market close .96
SPWR Jan 24 time not supplied .36
ESLR Jan 30 after market close -.04
CSIQ Mar 5 before market opens .18
HOKU Jan 22 after market close -.10
BTUI Feb 26 at 4:30 .09
all i could find for now probably other companies have not announced yet
these will probably gauge a little what will happen with solar if they beat earning's then solar will run
Why can't they fire Bernanke as easily as football coaches?
Alternative energy firm First Solar (Nasdaq: FSLR) is bringing home the gold (or coal, depending on how you look at it) as the Fool's worst stock for 2008.
Used to be I or Gosu were the only ones that saw the bottom—
This time around GIO and Tim K—see the bottom too---
Zee
and beannie is warning ( don't short)---
F8--thinks 11,900 or worse---
elmyko --sounds like you think 11,200
so we'll see---what happens---
You got it all wrong man !!!
Go and read all my posts again. Nowhere, and I repeat, nowhere do I predict the bottom of the market. It's just plain foolish. Pundits were predicting 12,750. Didn't work. Then 12.500. Didn't work. Now 12,0000. Will it work? Who knows?
I was wrong in calling QQQQ end of year, mr_market was wrong, scibby was wrong.
I guess when pundits call bottom they mean support?
And where the hell is gosu? Seriously, if people had followed his advice to load up on QLD 100% margin, then they might have an empty account by now hanging on.
Go read all your posts here -- http://zstock.disqus.com/fro_and_shipping_final...
http://www.247wallst.com/2008/01/7-dow-componen...
AAPL reports after the close on Tuesday.
At this point, I do not plan on holding.
If I hold, then I will hedge with 140/145 puts and hope that AAPL bounces back quick.
I think your point about not trying to call bottoms is a good one. It forces a higher level of alertness/analysis. I'm glad you keep bringing it up.
"Jack be nimble,
Jack be Quick.
Jack just watch the candlesticks!"
(My new life motto. LOL)
check out -- http://timothysykes.com/index.php/free-articles...
He will attempt to grow $12,415 to $1.65 million again.
How to catch these four falling knives (GRMN, MELI, FSLR, EXPE)
http://www.bloggingstocks.com/2008/01/18/how-to...
I owe, I owe, so off to work I go.
Have a good weekend.
I've been looking at the charts today, and even though we are due for a short term bounce, only 1 handful of stocks made new highs and hundreds of stocks made new 52week lows. This has been happening the entire week. This concerns me. I think shorting stocks into earnings in this environment yields better profits.
just click on My avatar---
But I'm with beannie and F8---
I'm not going to say how long the bounce will last---
zee
If WFR and SPWR EC--miss--this week---
F8--
PBW versus SLX and MOO---
It's going to be nerve racking---
all three Index funds have components reporting this week
zee