Yesterday the government reported that the troubled mortgage giant was able to post a profit of over $5 billion dollars in the second quarter of 2012. This was the largest profit since the government acquired the company in 2008.
The gain followed by a nice profit in the first quarter moved the company to a profit of over $7.7 billion dollars for the first half of the year. This is very encouraging news to the housing industry that it has indeed been able to turn the tables on the disaster that started six years ago.
In addition its smaller cousin Freddie Mac also was able to turn a substantial profit for the second quarter. For the year Freddie has had its best year since 2003 and one of its best years on record.
So after years of injections of taxpayer money it appears that we may get some reward.
What turned them around? Was it great management? Was it more capital injections? Actually none of the above, housing prices are finally starting to rise nationally.
After years of decline the inventories have been depleted to a point where supply is finally being overwhelmed by demand, and that has forced a “short squeeze” in the market.
The companies have been able to free up some reserves and those reserves now count as profit.
So it is time to get involved in the housing market now? It might represent an opportunity and we know how to take advantage of opportunities.
I teach my students how to take advantage of any opportunity, and I can teach you too.
My method of trading is simple and takes less than thirty minutes a day to make sure that you are ready for the market to move.
I have taught scores of students how to convert opportunity into profitable trades.
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As Always,
Keep those stops tight.
Todd “Bubba” Horwitz
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