RE: RE: Nice to see BP, it sounds like you read too much propaganda.
The housing "boom" is mostly just a result of banks buying up foreclosed homes/ short sales. Blackstone is especially active in this area.
The economy is in the dumps. My perspective is perhaps a bit different as I am younger than most on this board. Many of my contemporaries, all are struggling, with good degrees. Young people aren't getting jobs, they're not paying taxes. Most are heavily indebted, to the tune of $1 trillion in student loans that is another bubble. Inflation is out of control already, despite the government's attempts to hide it in the phony CPI which doesn't even include food prices? And it says healthcare costs are .9% of an individuals average budget. I mean, it's not like they even try to hide that their "statistics" are manipulated!
There is no recovery. If there was one, why would the fed still be printing a jillion dollars a month? Most of the US economy now is banking and big government. It's not even an economy any more. The US doesn't produce ANYTHING. Its a consumer nation, the foundation of which (used to be) the dollar.
When I was little I was told money didnt grow on trees. Now I realize that it is just created on a whim by some crazy people who believe they can manipulate the US economy into recovery even though the problems are mostly related to competitiveness; both in terms of general market conditions (taxes, regulation, etc.) and also just that you can pay the Indians and the Chinese 90% less. It's why US corporations are doing well and the average citizen isn't. Mark my words, the stock market will crash eventually. Impossible to say when. But,it will. The economy isn't recovering. Listen to Peter Schiff, Paul Craig Roberts, Max Keiser, Zero Hedge. Not US government statistics that don't have any relationship to reality. Shadowstats.com, pegs the real unemployment rate (aka not manipulated and purposefully excluding discouraged workers) at above 20%.
That being said, I was surprised to come home today and see some strength with volta. I expected more weakness given that stocks are at an all time high. Zerohedge had an article today about some morons who predicted dow 36,000 during the dot com bubble. The same guys are coming back with the dow 36,000 prediction. The more bullish sentiment is, the more complacent people get, the easier it is for sentiment to change and stocks to fall off a cliff. Personally, I can't wait for a nice stock market correction. It is overdue.
I was hoping to pick up some more shares around the .25 cent level. We'll see if I get that opportunity. I think they can push this baby a bit higher but the more they do the harder it is going to get. The stock market is at newsworthy highs and that is only going to make it that much more difficult to sutain the rally. If we see new all time highs, Volta might still have room to fall back a bit more.
It appears we have found support around .30 cents for now though. I know I bought there and it seems like many on this board took advantage as well.
Rick says it best. It's funny. People rush into the market when things are fully priced. When things are on sale, people are fearful. It is the opposite of reality. If you saw a store that said 70% off, or a store that said all things full price, which would you choose? Most people choose the full priced store in terms of stocks. It is puzzling to me.