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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (37171)	8/13/2003 12:27:10 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 74559

Jay, your Saudi article scared me enough to order the actual book. I was in Marbella Spain last year and saw an entourage of Mercedes of undoubtedly part of the Saud family members. So how do I buy some oil? seriously. I have never looked into that sector before. The economic news, finally, are reflecting reality. With the record refinances the last qtr, consumers are spending their last penny and keeping retail afloat. MBAA reported the steep drop in refi applications clearly indicating that the last wave of procrastinators finally filed their apps. What is more alarming is the drop of purchase applications. Clearly that is affecting the housing market a lot more than the bulls are hoping for. Rightfully, the mortgage originators such as CFC WM and GDW are getting killed today. I opine that the title insurance companies FNF FAF LFG should be tanking for obvious reasons. They may be good opportunities, to short of course. The biggest sleeper, however, may be the mortgage insurance companies. They are holding up pretty well under the assumption that as the refi activities slow, their persistency and therefore profits may go up. However, delinquencies could be jumping and claims can sky rocket. Seat belts needed going forward in the housing sectors.