Last update we said
March crude Oil, we missed our buy at $39.00 by .10. We wait till the next calling.
Well we got them at 39.00 last week and they to $42.65 and are back in the mid 39's. We will sell them at $43.50 . We will also put in a order to buy a second unit of march futures at $37.00 CLH09.
SPH09 or ESH09 stock index futures. We are flat. Although we might have finish the upward corrective wave already, I will take a conservative stance and sell short the first unit of ESH09 at 885.00. This the March E-mini future and a second order on unit 2 for 900 even.
Treasury 10 Year Notes, We are flat. I am shifting my attention to the 30 year treasury. USH09 march future. We will buy one unit at 125 16/32nds. order to buy a second at 123.00
Real Estate Markets, I feel the market wants to go. The leaks of the proposals for special mortgage products for home buyers has hurt the market short term. Many buyers are waiting to see what it is, especially the first time buyers. I think the money coming into the market from the government for mortgage bonds and agency paper is starting to be felt. It should be understood, it is just the tip of the iceberg so far. The TALF -Term Asset-Backed Securities Lending Facility is getting under way. Bloomberg story will fill in the bulk of it, but simply it is to get the securitising going again and get money into loans.
As these programs hit we should feel them in a energy from the mortgage community, with programs and expanded credit qualifications.
President Obama is focusing in on real estate. He feels we must get support for the market. It is a priority of his administration.
In Bergen County New Jersey: There seems to be a level of capitulation going on. Homes will sell with all these programs making buyers able to fund their purchases.
View my new homes for sale
Richard
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