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Ranging agreement joined the company is now is Gilmore rally since we -- -- all that selfish investing.
-- I know you don't -- trade single family homes you know trade realist I mean you trade golden island one.
Yet you haven't -- a well I I've been saying for a while -- -- a single family home to good neighborhood is probably one of the best investments you can make you can live in this thing.
And you got tax advantages would you just applaud your trading skills in your analysis -- the single family home market assuming we go over the cliff.
-- -- Well I think we've been seeing lately is some housing stocks for instance Ryland group for example has acted pretty well and you see a lot of these stocks rally and I think a lot of this has been a dead cat bounce.
Now well I think owning a home -- I think everybody should at least own their home and seek to pay it off to have that asset.
I don't really necessarily believe that we're gonna return to the bubble Lara that we saw back in mid two thousands in the housing sector although you are seeing some the stocks act well but I think this is mostly.
A dead cat bounce and at some point it will run its course and if we go over the fiscal -- I think it'll bring that in a lot.
Faster very interesting guilt stayed after a second because I wanna run a sound -- from Howell go -- he was on our program last Friday.
Talking about the taxes which on going to go pulp if we go over that fiscal Clinton is a full listing got.
On income tax you currently have six brackets that range from 10% to 35%.
We're now gonna go to find brackets that range from 15% to 39 point 6%.
So compression of brackets higher rates.
So there you have it we go over that cliff and then everybody who pays federal income tax now will pay -- law has all -- tomorrow morning.
How does that affect you trading stocks and gold.
Well I you know I believe the market tends to discount these things ahead of time and so we've seen some weakness recently in consumer stocks and retail stocks.
And some of those have actually been short -- targets of mine and he also seems stuck like apple coming off its peak pretty severely.
Citing the markets already discounted the potential for higher taxes and for more regulations regardless of whether we go -- the fiscal -- for not to tell you that -- Stewart.
I -- to look at this fiscal -- thing is really just providing an alibi for the market to rally over the past month.
Basically on the hope that there would be some solution that even if we -- the fiscal -- the fiscal cliff.
I don't think that's going to get us out of the woods in terms of the overall economic malaise that we've been and I think he will likely see the market had lower.
Next year regardless of what happens today or over the next few days regarding the fiscal -- that's interest in what would you be buying -- -- your regular trading kind of guy you're looking for ditzy looking divine on decide what would you mind.
Well there's nothing that I see -- attractive right now I'm actually short the market and what I would like to see -- say the truth to be a little rally caused by some sort of resolution of the fiscal cliff you know there maybe some stop -- measure I think the market will cling to that as a reason.
To stage a short term rally and I would actually be looking to sell stocks and short stocks.
Into that rally so I'm not really interested in buying any stocks right this moment tell that your it that's interesting so I just wanna try to summarize front general interest view -- you see.
Approach may be a very short -- -- deal may be that half.
Happens and you get a blip high office stocks but you say it's not gonna last the underlying economic situation is bad.
Down we go on the stock market at some point fairly soon is that accurate yeah.
Yeah and I think you're seeing that in a lot of the stocks a lot of the underlying leadership -- leading the market for previously this year anything stocks like apple and others like say Priceline.
Just breakdown -- seen some of the Biotech start to break down -- I think that's telling you that under the heard the market is weaker.
Than one might think based on the rally over the last month fascinated.
Joseph Morales it was a pleasure happy new year to you -- -- thank you take care it's 950 almost ten seconds shy of the price of gold the smoke.