PPI in line while housing starts down bigggg time. I really thought the housing market had bottomed, thats what all the talking heads were saying....fools
<i>"The day is still young and I am bearish around 1259.50. Don't let the generals trick you."</i> I'm with ya. Shorted ES 1459 into the news, out at 1456 for +3pts. Was pretty sure they would not print 1460 :>)
agree, houses near me are still on the market, have been for over 8 months, they have dropped prices around 2 times already, still no buyer. Have another friend who is flipping a house, bought it in early 2006, put a ton of money into it and is now lucky to walk away with 10k-20k in profits. Most likely will break even if he sells it within the next 4-8 weeks. I see at least another 5-10% drop in housing prices. When the market does come back it will not be like a market we saw in 2000-2006.
housing data was negative but i think that market expects housing to come down a little and its not worried about a little,its already in there, interest rate hike would signal its a bigger problem and we haven't seen that yet
Bought back TWM at $65.35, down already on it but not worried, think we get a minor pullback sometime next week.