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To: John Graybill who wrote (118075)	8/23/2001 12:53:52 PM
From: marginmike	Respond to of 436258

I think home builders still have fumes, they all have backlogs of 2-3 Quarters which will support their Low pe's for atleast another 6 months IMHO

To: John Graybill who wrote (118075)	8/23/2001 12:55:02 PM
From: yard_man	Respond to of 436258

ACF may be worth another try north of 50 -- also there is HI and CCR. 6 months is reasonable for the hombuilders to be cut in 1/2, IMO -- even from here. FNM may be ripe as well ...

To: John Graybill who wrote (118075)	8/23/2001 1:47:29 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

John, I think if the jobless claims keep rising, the builders are toast (even if housing starts remain strong). The market is anticipatory, especially with cyclical sectors (and the builders are nothing if not cyclical). I think prices on these will be 30% lower across the board by year end. Regards Patron