No offense towards you fine fellows that are so eager to short the builders, but I think you're NUTS!
Take a look at BZH! Higher highs, breaking out and on incredible volume! Oh, did I mention money flows?
stockcharts.com[h,a]daclyiay[pb20!b10!f][vc60][iut!Ub14!Ua12,26,9!Lh14,3!Lc5!Ll14!Lj[$spx]]
Greenspan says we will have an economic recovery this year. Even if he's full of crap, investors are responding to his comments in this sector. Valuations mean nothing when we have accounting issues clouding up other sectors. Overbought means nothing when we have companies filing for bankruptcies in other sectors. The money has to go somewhere and for now the HB's are getting their fair share.
I wouldn't be buying long here, it's not for me. However, I'm not ready to short it either. I'm not strong enough to swim against the tide, although one or two of you are. The rest of you shorters are NUTS!
It may turn next week, but I'm waiting to see it turn.
Trade what you see, not what you think.
I see a chart that indicates higher highs!
dabum |
