Tuesday, January 27, 2009

Big news tonight from the fed

The dow is up over 120 tonight and the  S&P over 2%. They will be buying 500 billion worth of homeowner morgages. A dramatic move to slow the forclose rate.To repeat the facts 800,000 morgages  in default now with 2 million more expected during 2009.  This and the stimulus package soon will lift all. Thats not to say alot of retail chains and office bldg's will not be vacant. There will be many more then u already see. This is how it goes theres booms and then busts and this cycle is going to really shake out the week hands. Steve the good news is there will be 25% or so less auto wholesalers around. Great for u when it turns. See ya's tomorrow