man, i should have had a sell mechanism built into my AAPL stock because it's way down today. i could have sold at 133 and then bought back at 125 or lower tomorrow and saved lot of money like David does. what a big sell off. i wonder what's causing it. i see almost everything is down a little bit, but AAPL is down 6.5%.<br><br>
everything is down from 1% - 3%, but AAPL is double that or more.<br><br>EDIT: i hadn't looked since my original post and AAPL has recovered a bit and it's only 5% now. <P ID="edit"><FONT SIZE=-1><EM>Edited by FSM on 08/09/07 04:08 PM (server time).</EM></FONT></P>
Don't blame me ... I did't sell any...<br><br>well this week !<br><br>I dropped out 7-10 days ago at $140, bought back at $134 and then got knocked off at $132, 2 days later. I never bought back in ... was sizing the situation.<br><br>I've been hesitant for weeks - not about AAPL, but the whole market is VERY soft cause of the Housing / Mortgage sector.<br>I hope to H3LL I'm wrong but I think a big downturn is coming.<br>Too many people over-extended and can't pay up... it's a domino effect. <br><br>Bummer because my retirement fund is stagnant now...<br><br>David (OFI)
Question: is the housing/mortgage downturn due to people being stupid and getting into ARM loans or because mortgage companies were making it easier for people with bad credit to get into loans?<br><br>Or a combo of both?<br><br>Personally I think it's the people being stupid to get into the loans.<br><br>my beer blog
IMHO- it's BOTH.<br><br>In the past stupid people were stopped from making Stupid mistakes because of rigorous credit practices...<br><br>The lenders got greedy (developers too) and loosened the requirements (to make many quick loans) and many people figured they could overextend themselves (buying say a $250K house instead of a $125K or borrowing on an existing mortgage to pay off debts) assuming in 5 years their income would go up 30-50% and they could make the payments when the cheap introductory payments expired... and it didn't happen.<br>Wages are relatively stagnant due to jobs going overseas, corporate mergers, consolidation of money in the top 2% of wage earners... <br><br>They're ALL (lenders and borrowers) hitting the brick wall going 90 mph.<br>I expect more "fallout"... maybe even a recession.<br><br>David (OFI)
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