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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 677.62-1.2%Feb 5 4:00 PM EST

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To: Sultan who wrote (46622)3/8/2011 5:37:24 AM
From: Johnny Canuck  Read Replies (2) of 70527
 
Interesting comment on the radio this afternoon. The financial analysts was commenting on the local Vancouver market and noted that people could quote the selling price of homes in their area like people could quote the daily stock gyrations of their favourite stocks near the top of the tech boom.

It may be time for JP Morgan's famous quote where he sold all his stock holding when he started to get stock tips for a cab driver. When the man on the street gets into the market the last fool that you can sell to may have put his money in the market and the only place is down.

The was also a news story of houses increasing $200,000 in a matter of months in hot areas where Asian investors find desirable, because we are talking about million dollar plus homes.Percentage wise it is a lot less than it appears. In absolute dollar terms though it is lot of money for people.
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