The Tycoon Report

Historic Times

The MSNBC talking head told us to remember this day to tell our kids. This would be a day studied in the future as “the day the U.S. nationalized the home mortgage market”. WOW, we truly live in historic times. After the bailout bill passed, the market tanked. Everyone that had sold this bill as manna stumbled to explain how this could happen. Like drunks who wished to ride a bull, or go car surfing they realized what they had wished for. Uncle Sugar is now the biggest player in your backyard!!! In fact they are a bully! Chris, Nancy and Barney get to tell you again and again “Greed is bad”. That is, unless the government is greedy, then it’s payback for following the rules and laws they passed to finance bad credit risks with no down payment. Something no sane banker would do. I forgot, Fannie and Freddy were not banks, they were GSO’s that lined the dem’s pockets. It’s patriotic to pay more taxes. Suckers! God, protect us all.

This may encourage buyers to come into the market next week. Continue to treat the market as a bear. You can fight it for short periods, be careful of your entry points and take profits quickly. If you’re a long term investor, a year from now you will kick yourself for not taking advantage of the current prices on some great companies. Could they go lower, sure, but you can’t always buy at the lowest or sell for the highest prices.