| | | Z - All over the news yesterday was the report that home prices in the US have finally eclipsed the '05 highs. That's great news for the federal reserve, who whether directly or through proxies, must already own over 35% of the US Housing Stock, a number that is sure to continue growing as distressed property owners are forced to sell. It's also great news for Zillow, a bumbling, stumbling, fumbling mess of a Company who had the bright idea of hurriedly unloading their entire SFH portfolio at the onset of the Scamdemic last year. Just when we thought you couldn't POSSIBLY be any dumber...
...You get redeemed by the greatest housing bull market of all time, which as it continues to grow in strength will generate enough page views and commission opportunities for your huge mistake to be papered over.
The chart? It's right in the middle of a quad forks move, which will most assuredly take it up to $272 minimum. The low 180's would be an attractive point of embarkation, but beggars probably shouldn't be choosers. I'll no longer use the quad fork as a topping predictor, after getting the better half of my face blown off on Chef's board trying to call a top in MVIS. <g> Plenty of other tools in the bag to perform that morbid but necessary task.
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