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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Jon Koplik who wrote (9280)	4/29/2008 12:16:55 PM
From: Stoctrash	Read Replies (2) of 33421

Anyone ready for the bear to roam again? 1) FED .25% news is already baked in...so sell the fact. 2) Bank earnings will continue to suck for the next 12-18M and that should sink in by this Summer, IMHO. 3) HELOC bubble next on the plate. 4) Govt going to bailout J6P? Don't count on it. ohh, and the bottom in housing is in...LOL ====================================================== Housing prices post record declines - Las Vegas, Miami and Phoenix all saw prices plummet by at least 20%. Home prices posted another record decline, as most of the nation's largest markets suffered double-digit drops over last year, a survey released Tuesday shows. The S&P Case/Shiller Home Price Index, which tracks 20 of the largest housing markets, showed prices plummeting by 12.7% in the 12 months ending February. That's the biggest fall since the index began tracking prices in 2000. "There is no sign of a bottom in the numbers," S&P spokesman said David M. Blitzer, said in a prepared statement. "Prices of single family homes continue to drop across the nation." Atlanta -5.6% Boston -4.6% Charlotte 1.5% Chicago -8.5% Cleveland -9.2% Dallas -4.1% Denver -5.5% Detroit -16.5% Las Vegas -22.8% Los Angeles -19.4% Miami -21.7% Minneapolis -12.5% New York -6.6% Phoenix -20.8% Portland -2.0% San Diego -19.2% San Francisco -17.2% Seattle -2.7% Tampa -17.5% Washington -13.0% 20-city composite -12.7%

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