Tuesday, October 03, 2006

a new high well maybe ?

Perhaps a silver lining in the latest mess on Capitol Hill could be that former Congressmen Mark Foley could now run for Governor of New Jersey. And those of you who worry about your children playing on the internet can take comfort that the child predator maybe your local congressman. Mean while the New York City’s planed ban on trans fats is coming under attack by Police unions, who feel the result of this ban will be the closure of many Dunkin Donuts creating a negative impact on police morale. I an expansion of the Geneva Convention a Wisconsin women was arrested for Hamster neglect, like Gitmo she too forced the hamster to listen to hours of Justin Timberlake and Brittney Spears.

Yes it’s a “new high” on the DOW JONES INDUSTRIL AVERAGE; well it looks more to me like a new break even on the DOW back to where we were in early 2000, yikes! I don’t know if there is much to celebrate given it took almost 6 years to get back to where we were. So the question remains will the slow down in the housing market stop this economy in its tracks? Unlike most I say no ,it will certainly hurt many of the over inflated industries centered around housing and some investors who were late to the party will be stuck with overpriced real-estate and huge mortgages but unlike past real-estate slow downs interest rates are still relatively low and If you add all the new tricks the consumer has available to change their debt structure these should cushion some of the blow. Real Estate typically goes through a period of very low liquidity first then you get a period of price deflation. So much is based on the particular market you are in, but like everything else the formerly hottest markets often get hit the hardest when the uptrend ends.

Thank you again for all the referrals you have passed my way the last couple of months I really appreciate it.

Through www.jamesfoytlin.com I am entering in to an agreement with Elliott Wave International to provide additional content on Elliot Wave Specific strategy and commentary. Contact me if you are interested in using the Elliott Wave to more effectively manage your portfolio.

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James Foytlin
www.jamesfoytlin.com

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