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Couldn't agree more with this reporting.
Find it very hard to believe that many still believe this housing crunch is coming to an end shortly.......fall from it in my opinion.
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Thing is, most people look for news that agrees with their opinions and biases.
Financial journalism is only of use to try and guage the current feelings of the weaker hands in the market - which at the moment is probably very nervous.
I sold some of my long positions when I posted
this thread (the charts are now obv. outof date) based on some basic analysis. And then continued to unwind the following week. I don't have access to shorting at the moment.
At the end of August I started to re-invest - but only in the Asia/Pacific region. I'm probably a little better in the black for it, but not enough to be worth the bother.
I'll be prepared for the next break and any subsequent prolonged decline.
You need to use your own data and not the opinions and fear-mongering of journalists.
(DISCLAIMER: no flaming for taking fishead seriously, and let's keep IOWA out of this thread (for now [img]/images/graemlins/wink.gif[/img]))