Cosmo,
I don't think anyone's worried about the shorts in the builders now. The game now is how to take all the gains while rushing for the door which will only accomodate a few at a time.
Think of it this way, all the longs want to finish the year high, and they've got a low volume week in which to manipula--, er, trade their positions aggressively in the stock. If today's 2-3% selloff is the best they can muster, my guess is when volume returns on Jan. 2-4 we're going to see gravity and rationality winning and winning big.
Look at TOL. For 13 trading days it's basically been topping at $44-45.50:
stockcharts.com[h,a]dbclyiay[pc25!c50!c200!i!d20,2!f][vc60][iUb14!Uk14!Lc3!La12,26,9!Lp14,3,3!Lg!Lf]
It won't be many days now, imho. Btw, I shorted CTX today, the first time I've ever traded it. I don't think it's going to take excellent stock picking to make money shorting the builders in 1Q 02.
JMVHO,
Kb |
