Stocks at 2-Year High Amid Encouraging Economic Data

^^ That's an AP headline from today. And I quote:

http://finance.yahoo.com/news/Stocks-edge-higher-on-apf-2601339914.html?x=0&sec=topStories&pos=main&asset=&ccode=

NEW YORK (AP) -- An encouraging trade report and signs that a tax cut package would pass the Senate sent stocks to their highest levels in two years Friday. Bond prices fell for another day as investors expected the tax deal to lead to economic growth and higher budget deficits.

   It's not apparent now but stocks are headed to all-time highs and beyond. Corporations are raking in profits like never before but you're not supposed to know that. Those record profits aren't being blared across the newswires because it's not supposed to be that way amidst a recession. Understand me? Good news is bad news and bad news is good news. As I've mentioned many times before, BUY and HOLD. That strategy's been out of style in the lost decade for stocks but it's coming back. Feel me.

The Mortgage Foreclosure Crisis

You'd think with the leaps and bounds that technology has made since the 80s, there'd be some better voice synthesizer software out there. The voices in the following video sound like "Poker Sam," an Atari and Commodore 64 computer game from back in the day.

American homes are worth $1.7 trillion less

^ That's a headline from CNN Money this morning which points to the loss in value of American houses since last year. From the article:

   American homes are expected to be worth $1.7 trillion less in 2010 than they were worth last year, according to a report released Thursday by real estate website Zillow.

   This year's drop in home values is 63% bigger than the $1 trillion dip in 2009, and brings the total value lost since the housing market's peak in 2006 to a whopping $9 trillion.

   Instead of leveling off from the $1.0 trillion loss in home values in 2009, the value destruction is accelerating again and the carnage will continue for a few more years. My timetable remains 2018 before any recovery in real estate is evident and prices begin appreciating again. Will real estate values eventually recover entirely to their highs in 2006-2007? Yes, I think so. The market has a short memory and when the good times are rolling again, old manias will reappear. It wouldn't be natural if booms and busts didn't cycle like the seasons.

Gold Drops Below $1,400/oz

Gold hit a record high of US$1,416.10/oz on Monday of this week but it's dropping today, losing $25 and waffling around $1,384 this afternoon. The price ranged between $1405.40 and $1372.10. I think gold is dead but it won't drop straight down. It'll drop and rally in alternating waves before the death knell is rung and the rug is pulled out from underneath. I think 2011 will prove that the bull market in gold was a fool's errand in capital preservation futility.

Homosassa Foreclosure for $11K

I'm not in the market but if I were, I'd buy the following Florida property just for the hell of it. I'd never live in the house but I'd probably rent it out and attain the status of landlord.

Foreclosure, Have Americans Given up? How to fight back today

Jiggaboo Jones layin' it DOWN, son.

Foreclosure Bullies

Bullies... they're everywhere. Must be the new reality we're living in.

Stocks recover ground after weak employment report

NEW YORK (AP) -- Stocks staged a late afternoon rally after spending most of the day weighed down by an unexpected rise in the unemployment rate. Indexes wound up closing higher for the third straight day.

   YAWwWnn. Why wouldn't stocks go up and continue going up? We're in a bull market. Even though the masses are still scared of the market, it'll continue to go up and as it skies ever higher, Joe Sixpack will bite his lip and stomp his feet as the DOW roars towards 18,000 in the next few years. I've addressed this before but it bears repeating because memories are short and I'm right on this. Could there be a chance that we're not in a bull market? Nah, erase that thought from your mind. The bear is slovenly because he's eaten well and a fatted animal is lazy and apathetic.

   My advice is simple, buy the dips but don't sell the rips. In fact, keep buying the dips and hold the line. Hold on like you've never held before because there's gold in them thar hills and the adage of "buy and hold" is swinging back into fashion.

Home loan modifications lead to foreclosure

From the producer

   This was an in-depth news story I did about three families who found themselves in danger of losing their homes to foreclosure after applying for a home loan modification through their lenders. The families believe that it's in the lender's best interest to have a home go into foreclosure than give a homeowner a modification. This is a practice that's called "parallel foreclosure".

(Side note: I also edited this piece)

Jim Cramer: Shortselling the Truth

When Jim Cramer isn't being a clown on television, he has his moments.