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To: tdl4138 who wrote (46580)	6/3/2006 4:16:52 AM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

Thanks for all the info, TDL. One phrase caught my eye: Look at where they were priced before this last cycle started. That's pretty how much how I have started to set my short targets. Looks like the homies will come full cycle eventually. I will keep my stops on my small shorts but the odds of a rebound in this market climate are slim. Do you think a Fed pause in June would change the equation and embolden the dip buyers? It's the only positive I can think of on the horizon. Just to recap, still short CTX, HOV, ALCO with puts in WCI, PHM, JOE, XHB and CORS. XHB and CORS are Septembers, rest are January and JOE goes out to Jan 08.

To: tdl4138 who wrote (46580)	6/3/2006 6:11:08 AM
From: John Carragher	Respond to of 118717

next we will revive the ford $2000 tax credit from 70's if you buy a brand new unlived in house, to keep housing going.

To: tdl4138 who wrote (46580)	6/3/2006 5:19:23 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 118717

You should post that on the yahoo JOE thread. -g- I was interviewed by the local paper last week and gave a modified version of your take. Used the "R" word". It appeared front page lower fold but the "recession" quote was lifted and played all day on the local radio stations. The flak I got was all Realtor based. Of course, the positive feedback came from the public. They already know the market is too high because they can't afford to buy a house and can barely afford rent. FWIW, some think the rental; market will go higher. I disagree. I think it will correct significantly in many areas. Some long time real estate pros called or emailed and gave me positive feedback. Not one detractor had the cajones to confront my viewpoint directly. All badmouthing and snide backbiting. It will get ugly. Interesting that my MLS stats show some of the hottest projects now have listing 20% below the perak sales of last year and there are NO buyers. Isn't a 20% decline considered a recession? I think so.