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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (1828)	3/27/2007 5:51:51 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

BZH shows how vulnerable homebuilders are. I will not change my opinion one iota: CFC is worth the book, and NDE equity is doubtful. LEND and FMT, ... ??? NFI and others are carcasses. Related to homebuilders: Overcapacity, too little demand. Inventory glut. Doubtful and distressed balance sheets. Only few exemptions exist but it is unsafe to assume that those companies are really without repurchase contingent liabilities. One company with an absurd low level of stated debt appears to have resorted to this kind of quasi financing. This is the kind of stock which falls with a thud.