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Tuesday, February 12, 2008

SP 500 At the close feb 12


And using the same lines as before the close. You can also see the descending Triangle in the middle and on the third approach the volume push through that takes the market to close the gap and rally 10 points.


What a day.

Good news, bad news SP 500




The markets had a good start to the day but finished with a drop that left the market 9.75 above open.








is an interesting article on 6 lenders to get together for a 30 day reprieve for those that qualify.






Obama also gave some interesting news for those of us who pay capital gains tax. He will be raising it from 15% to 28%......HMMM.




Market is still posing itself for more of a rally. Could be short lived. We will see.





Tomorrow President Bush is likely to sign into law the recently passed economic stimulus bill. It raises the limit on the size of mortgage that Fannie Mae and Freddie Mac may purchase and that the Federal Housing Administration (FHA) may insure. In both cases, the increases are temporary and apply only to loans originated by the end of 2008. If signed, Fannie and Freddie may purchase loans up to 125% of the median home price in an area, up to a national limit of $729,750.



FHA limits, and I assume VA, would see the same increase, and the floor on FHA limits would be raised so that larger FHA-insured loans would become available in low-cost areas.

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