- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
- The Gold Rush Is On
TRADER TALK RSS FEED
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- CNBC Anchor Takes a Sabbatical
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Privately Held Facebook Creates Dual-Class Stock
- GM's Agreement to Sell Saab To Swedish Firm Falls Apart
- NBA D-League On The Rise
- On Twitter, Beware False Prophets
- 10 Holiday Cocktail Recipes from Top Mixologists
- Just In Time for Holidays: More Gloom and Doom on Economy
- Buyers Look For Bargains At Luxury Condo Auction
- S&P to Hit 1,200 by Year-End: Chief Investor
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Facebook's Biggest-Ever Holiday Shopping Season
- Facebook's New Dual Class Structure - Slow Steps to an IPO
- 5 Big Bank Stocks Investors Should Consider: Strategists
- Gambling Drunk, Texting to Live And America's On Sale - Your Emails
- Nov. 24: Unusual Volume Leaders
- NBA D-League On The Rise
- 3D's Tipping Point and Your Living Room
- Citi Mortgage Reveals Something the US Treasury Won't
- Fed Sanguine About US Recovery, Worried on Jobs
- Amended Berkshire Filing Reveals No 'Secret' Holdings
- In Time for Holidays: More Gloom and Doom on Economy
- Turkey Day 101: How Well Do You Know Your Bird?
- Privately Held Facebook Creates Dual-Class Stock
- Holiday Guide to This Season's Smartphones
- Six Ways to Boost Your Income in a Big Way
- Gambling Drunk, Eggos on eBay & More: Your Emails
More Videos
Trader Talk
Text Size 
Weakness in financials -- particularly over concern that the equity in Fannie Mae [FNM
Loading...
()
] and Freddie Mac [FRE
Loading...
()
] could go to zero -- was the primary driver of today's activity.
Traders in tech stocks -- the market leader -- took advantage of the market weakness to lighten up on their positions.
Finally, even energy stocks saw a late-day selloff. The Amex Oil Index [.XOI
Loading...
()
] closed at a new low.
The housing news from southern California is illustrative of the elusive nature of this housing crisis: a little good news, but still mostly bad.
The good news, according to AP, is that bargain hunters are out: sales hit a 16-month high.
The bad news:
1) Prices keep dropping: to a median of $348,000, down from $355,000 in June and a peak of $505,000 in July 2007 (down 30 percent from peak);
2) Foreclosures were still huge, at 43.6 percent of all sales, up from 41.8 percent in June, and 7.9 percent in July 2007. Most of these distressed sales were in newer neighborhoods.
Questions? Comments?
POPULAR TRADER TALK POSTS
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
- The Gold Rush Is On
Data is a real-time snapshot *Data is delayed at least 15 minutes