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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (22657)	1/4/2005 7:52:25 PM
From: kodiak_bull	Read Replies (2) \| Respond to of 23153

Michael, Those are interesting charts and I would suggest people open them up and study them. One interesting thing, though, if you hold a piece of paper over the right hand side of the chart and obscure everything later than, say, February 04, you would come to the conclusion that the market peaked in June 03 and was heading south. That would have been a costly conclusion to come to, however. Piling into shorts on BZH last summer would have seen that homeboy "dive" from the high 80s to about 148. Ouch. It is always a question, given charts that expire today, what will be hidden to the right of the current moment. Is there a further peak waiting to take out this Aug 04 peak in mean and median housing prices? Even if housing prices have peaked, and will recede, will that spell a big selloff for the homeboys? I sure don't know. It will be an interesting sector to watch, though. Kb