Last week the last unit of SPZ08 sold at 880 and now we are flat. We did good on the other unit from 750 buy to 850 sell as well .
We also closed our $50.00 Crude oil long position at $55.00.
We will look to sellshort the SPZ08 first unit at 950 and the second unit at 1000 and the third unit at 1045. These might not go off if volatility lightens up. It probably will as the month of December wears on. I can't short here due to the wave pattern and momentum we must wait for our price. It has been working for us for months.
As for interest rates, they have been doing great. New all time lows in the 30 year treasury. Unfortunately it doesn't drip through to the mortgage market. Although the mortgage rates are declining it doesn't decline as fast as the treasuries. The libor decline has help a lot to mortgages but I think it still lack the liquidity to bid a lot lower. The Fed has the ability to buy into Fannie and Freddie as i have bin saying and effectively lower rates. This is what the economy needs and real estate needs. I hope they see it. They have put money everywhere but where it would do the best. At least in my opinion.
I think treasuries have a little more in them and then we will back up some.
Real estate needs to build some volume at the bottom here. I think it will start selling fast after the holidays. All this liquidity in the markets will finally show up.
Good Luck!
Richard
View my new homes for sale
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