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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: tahoe_bound who wrote (27267)	6/18/2002 5:38:04 PM
From: c.horn	Respond to of 28311

I don't own any techs.. LOL Try again..

To: tahoe_bound who wrote (27267)	6/19/2002 1:58:10 AM
From: tahoe_bound	Read Replies (2) \| Respond to of 28311

CNBC just ran a headline teasing an upcoming segment on housing that read: "AT ANY RATE, A GOOD INVESTMENT." Coming from them, that should raise big warning flags. Consider that a good straw in the wind for a housing top. Might as well read, You can't go wrong with housing. Sorta like you couldn't go wrong with CSCO at $ 70-$80. The one stock you had to own to play the internet buildout. What economists are missing in regards to housing is this: At its best, housing will be a drag on the economy going forward. It will NOT expand beyond what is going on today. I can tell you--I'm in the industry--a 20 year veteran. Now, that doesn't make me incapable of being wrong--but everything in my experience says the housing market is topping. True, most of us in this traditionally cyclical industry have been looking for a downturn for 4-5 years now. It hasn't happened because of the historically low interest rates and, more recently, the decline in the stock market. And, the 9-11 effect--more people are nesting at home. People are fleeing financial assets because they're still in a bubble, and they're running to what is perceived as a more stable and good asset, real estate. I believe the FED and Greenspan know how critical housing is to everything--the US housing industry is 14% of GDP! BUT--this is what the bulls are missing--when housing turns down--and it will--it is going to be a huge drag on the overall economy. The FED will try and pull out all the stops, the Plunge Protection Team has already been flailing in the wind however. 11 interest rate cuts, and the whole thing is still in shambles. Not a very encouraging sign going forward. I do think a market crash has a high probablility this fall. Look at the stocks of two companies very tied to the strength in housing--these are not bullish! The market is trying to tell those who will listen that the housing market is NOT as robust as today's figures indicate. Examine these 2 year charts and see what I'm talking about--this is topping action at its best: Fannie Mae FNM finance.yahoo.com Home Depot HD finance.yahoo.com See everyone in a month, that is if this thing is still on.