[observer]

The normal trend for oil in late August is much higher. During winter last year, the barrel of oil was $40 and gas was approximately $2 a gallon here in California

The $40 a barrel in the summer months is very concerning because the trend for oil coming down in price is normally mid September.

Depending on the next few weeks California may see $2.00 a gallon gas soon. The rest of the country may drop to $1.50 a gallon as everyone knows how screwed up California is with all its extra taxes

Uber maybe profitable once gas hits a $1 a gallon.

If Chinas economy keeps self destructing, oil will drop even more.

 

[observer]

^^^
The Wall Street analysts along with reading the chatter through the Spiders think something really nasty is gonna happen beginning the middle of Sept.

China is on the brink of imploding.

In my opinion, Big money is very nervous right now.

 

[observer]

Time to change title to drops 350 plus 530 today.

 

[observer]

What happened to us during the housing bubble is now happening to them.

Karma...

 

[observer]

^^^
I wasn't talking about stock prices or the market in general.... a lot of other things affect the market as far as the world situation is concerned.
And "correction" is such a misnomer as far as what has happened to the market over the last week.
A correction is just that.... a correction to the market when there is a bubble as with the so-called dot com bubble where companies were selling at astronomical prices as to earnings when there were no earnings whatsoever. Or the real estate bubble where they were allowing people to buy homes that they couldn't possibly afford and 17 trillion Dollars worth of real estate were dumped into foreclosure.
There is nothing "wrong" with the current market.
This weeks' trading disaster was due primarily to the devaluation of the Yuan along with other emerging country currency valuations did the same in self defense of their own markets in the world.

This "correction" stock traders are talking about is like when the real estate agents kept trying to spin the real estate crash in 2008.

Hoping that people would start buying again.

 

[observer]

the gas stations are now using this new innovation called "surge pricing" .. didn't you see the 2x sign above the sign

I have seen stations actually change prices depending on time of day. The Vons by the Traffic Circle in Long Beach has done this.

 

[observer]

The real estate agents were not trying to "spin". They were in EXTREME denial. Of course when folks started buying it was the smart money and hedge funds, foreign investors, not the common folk who were still too frightened. Common folks did not start buying again until the prices had gone back up 20% or more. Well here in SoCal anyway.

I sold a house in April 2008, I bought it in 2005, sold it for 4X what I paid. I just had this gut feeling it was time to get out of that property.

When I spoke to the real estate agent, her demeanor confirmed my feelings, so not all were in denial. But, I'm sure there were a lot of people caught by surprise.

 

[observer]

I don't think China's an emerging market any more. They're not only a few decades from overtaking the US as the world's largest economy.

I think one day, the China we now know, will cease to exist. Much like the Soviet Union.

http://www.zerohedge.com/news/2015-...reight-rates-asia-europe-crash-60-three-weeks

Their economy will tank and there will be lots of hungry, unhappy people.

 

[observer]

Not so much of a surprise but a slow realization that this was real. Stay alive until 08 was the mantra in 07. Survive until 9 in 08. Went on for a few years.
Plenty of real estate agents were as greedy as everybody else And suffered like everybody else. . It was always crazy to see foreclosures and short sales owned by agents. Me, I have a personal motto, never sell a piece of California property unless you have to. YMMV We went all in, saved our home and 2 rentals. But there was a heavy price to pay. Driving for UBER today.

Sometimes, it pays to not get too attached, I sold that house for a little over 400K. One year later it was worth 200K. Now, seven years later it is up to 300K.

Not only did I keep an extra 100K, I also saved the difference between the mortgage payment and what it would have rented for, a difference of approximately 42K over the seven years.

 

[observer]

Might be time for another title change today. It was a good morning out of the gate.

Yupp,

Oil below $40, hit $37.75 today. Wait for the end of day sell off. Starting to gain speed. Soon margin calls will happen with 15 minutes left in the day. Watch the sell off start about 12:45 PST.

Been a roller coaster today.

Prices for oil will probably keep dropping which should help Joe Sixpack and in turn stimulate the local economies as we are able to keep a few more dollars in our pockets to spend here.

 

[observer]

Oil may drop to 20 dllrs a barrel.

http://www.businessinsider.com/gold...es-plunging-to-20-per-barrel-2015-9?r=UK&IR=T

Of course, we'll still have a "shortage" in Socal and pay 3.00 a gallon.