Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (53626)	7/19/2006 8:24:57 PM
From: orkrious	Read Replies (1) of 116555

I would not be short homebuilders here It's questionable how far they're going to rally. I was short a massive homie position for many months and covered in early June. A week to ten days ago, when they couldn't put together much of a rally, I reshorted 60% of my original position (in dollars) but put on size in the ones that had bounced the most (ctx and kbh) plus ryl (and lend, which obviously isn't a homie). These are "hedged" with miner longs. Right now I still have very nice profits in what I reshorted, and I'll be surprised if they bounce much further. most of these bounces have been vicious, one or two day wonders. If they do go much more, I'll more than make up for it in miners. Given the way fundies are collapsing, I don't think the homies are such a bad short here. It all depends on if you do it "safely." <g>

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