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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: YanivBA who wrote (69475)9/7/2006 7:34:43 PM
From: orkrious  Respond to of 110194
 
IMO this is a very bullish article for home builders. Volume action and price action confirms that the short term bottom set in mid July would probably hold for much longer.

I'll take the other side of that bet.

After trying to jam the homies all day on bad news, the bulls buying at the highs today got stomped. I think the volume today is ominous. Huge volume didn't get most of the stocks anywhere.

I sold more RYL at the highs and I started a position in TOL. My Orkriouscan homie position has never been larger.



To: YanivBA who wrote (69475)9/7/2006 7:39:50 PM
From: CalculatedRisk  Read Replies (1) | Respond to of 110194
 
Homebuilder fundamentals are deteriorating rapidly - and when fundamentals are falling apart, the down trend returns to the k decay pattern - so for traders, don't buy bottoms; short tops.