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Politics : Welcome to Slider's Dugout

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From: SliderOnTheBlack	8/23/2005 1:33:54 PM
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Could THIS be "THE" Turn for the Homebuilders ? [...first time that line has ever been written...[vbg] I'm adding to SHORT positions into continued downside momentum - this is a sector that you have to trade technically here imho and for now, the wind is at the SHORT's backs. finance.yahoo.com We had the rollover of the Housing Markets in Australia and more importantly, in Great Britain as early-indicators of what was to come here in the USA... not that the existance of a "bubble" was really ever in doubt for most. The Condo Inventory Numbers are just staggering... Where can I just SHORT - "Condo's" !?!?!?!?!? <vbg> "THIS" is starting to feel like "THE" tipping point for the Homebuilders. As in Energy Stocks... there are huge retained profits in the Homebuilders and with the Fed raising Rates and "Year End" approaching ever near... Fund Managers are being heavily pressured here to take more and more chips off of the table and lock in these huge gains...while they are still "huge". I'll try to get some Charts posted later this evening. Classic Head & Shoulders Charts sectorwide... I would like to think that the Sector will at least re-test the Feb/March Highs (shoulder) as new support - which still allows significant downside for Shorts. Bob Pisanni reporting from the floor of the NYSE on CNBC yesterday, touched on a key point... The Market leaders...Energy, Homebuilders etc are starting to break down and there is not any new leadership emerging. There has been a huge flow of Funds out of US Markets and into International Markets. Hedge Funds are rapidly moving to neutral & net short positions. Looks like "hunting season" for the Short's has arrived... Lock & Load ~ Thank You Mr. Greenspan, Slider

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