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107 13/32 so may not have to go up to 108 9/32 108 29/32...... They could be toast
also the announcement of USY bringing out more 10 yr notes should put a floor on int. rates for any of you who have not refinanced your home... call in and lock fixed rate...........
Dorothy,
Your statement above is right on so I'm going to give myself a shameless plug but since I've contributed a lot to the list over the years I hope it will be O.K. : >) I work for Home Source Capital Mortgage, the largest non-deposit mortgage company in Florida. We are a direct lender so there is no middle man involved. If anyone on the list has any questions please see my contact information below. Now back to something on topic (ggg).
Last Sunday I sent this in response to a post from Ralph:
"All,
I'm looking at 1050 as minor resistance and 1080ish as major resistance on the S&P cash. What happens around these areas will clue me in to whether September's low was a wave 5 or a 3:5."
Well, the 1080ish target (1086.03 on the chart I sent) has been met with some resistance. Did you notice the low of Friday held at 1053.50 just above my first resistance area of 1052.93. Hmmmm, bouncing between fib #'s! Attached is an updated chart with some fib retracement support levels if the 1053 area can be broken. They are both contained within GET's MOB at 1030.63 then 1014.23. If 1053 holds, which it has done so far, then I can see the next resistance at 1119.13.
Again, sorry for the shameless plug!
Lenny Rosow
(877) 768-7264 Ext. 8739
lrosow@xxxxxxxxxxxxxxxxxxxxx
PS - We have a free Float down option that allows one to lock in today's rate but allows you a one time option of locking in a lower rate up to 5 days before closing. There's no upside risk!
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