Bove was actually quite bullish on WFC after its earnings release this morning...then decided to do a double take and realize the earnings were based on "hedging profits".
Reading Doug Kass earlier in the day, he was pointing this out and calling WFC earnings "garbage" more or less.
So you tag...
It's not. Today was the top...the way the market closed. Bye bye.
The earnings blowout was it...all the estimates were lowered to such a level it was easy to beat the EPS by 50%+ easy.
Hi b1gredek
I was tracking one of the properties back in 08' and was pretty good with my guess...about $275 per sq ft.
http://www.irvinehousingblog.com/forums/viewthread/2737/P25/#66481
My question for you is..how do you like living there (noise level) and how are the schools around there?
I concur with you.
I think this market will try to squeeze another 1-2% out of this earnings season and it's back to reality.
I am thinking a 15-20% drop in 2010.
My favorite long term name at the moment is TBT.
I'm not shocked Obama won at all.
Average Nobel Prize Committee voter... "Lets vote for the cool guy."
Same logic used by most voters in the 2008 election.
http://www.redfin.com/CA/Irvine/14-Santa-Victoria-Aisle-92606/home/4627864
Looks like a flip attempt? Who bought it for $573k on June 26, 2009? The Bank, investor/flipper?
On the market for $679k.