Show-me,
How are you playing the I-fund today?
Poorly...................... ROFLMAO!!!
My hope was that the massive injection of cash the Fed has pumped in would beat the USD down. That and the FOMC meeting would be much more dovish in its statement. That and support for the USM at the 200 dma. And, I am holding out for good PPI and CPI numbers. Well it never happens like you hope.
This is a historically strong week with Friday Expiration, but the subprime and now the Alt-A loans are overshadowing any good news out there.
The more I think about this the more I think it is not over. AIG release their statement and do not have sub-primes but do have a ton of Alt-A. I think they are getting worried and that is why they made the statement. Kind of a gentle way of saying even though we are the "best of breed" and we did not participate in the sub-prime "grafting of weak lenders" we are starting to see it spread into other type loans. This is very bad IMO.
Jim Cramer, who I lost any respect for, is telling folks to walk away from their mortgages and acting very unprofessional. :worried: All that does is put pressure on folks that do pay their bills and is a shell game, IMO, to force the Fed to artificially lower rates to save his hedge fund buddies ............... for the short term. And to be honest I would walk away from a house that I was upside down in also, but I would not buy it in the first place. I'm cheap.
It doesn't look to good for the home gamers, but it is a buying op for long termer's like birch. I plan to liquidate some of my laggard in my personal port so that I have more cash to buy cheaper stocks. We still have not had the "10%" correction and are way over due and this is a perfect opportunity for it to happen. Since the Fed "injections" the market has not rallied at all and the is worrisome. All that cash, at best, just delayed the further decline.
I'm 100% I fund, hoping for a "relief rally" before we go lower and that is all.
GL everyone and stay calm.
