What have I been telling you knuckle heads For the last few months? SHORT the F'n HOUSING SECTOR! and Buy the weakness/// sell the strength. Trade these up down sideways. CFC DOWN another 14% today. KBH Down 10% today LEN DOWN 12% today PHM DOWN 14% today SPF DOWN 17% today FNM DOWN 25% today FRE DOWN 30% today ALL in addition to previous slides. Like taking candy from a baby.
Now if we could just get the overall markets dow nas to rally 200 pts tomorrow we could get a nice short covering rally to trade.
WOW I didn't figure it was the bottom for these, but that most of the easy money was made. Still more downside I suppose -
The thing is you just never know where stocks prices end up and how far they can fall. I have seen over the years stocks cut to pieces. A stock like CFC that ran down from $40 to $10 can still get cut in half from $10 to $5. You just never know. I'm not saying it will hit $5......but then again maybe it just might???????? Don't fight the tape.
keep in mind though that people still need houses. When enough shorts get sucked into these stocks they will surge.
Sold CFC 2000@$10.78 bought 2000@$8.44 Similar positions/moves/profits in 7 others in the sector. Up $25 K + today intra day trading the housing sector. Time to go turkey shopping. Have fun kids! Happy Trades!
I trade both the short AND the long side(short covering rallies and any market led upside moves) intraday on the housing sector. Happy Trades!
NO. people need a place to live, if they cant afford a mortgage and downpayment.. they rent... thats life. right now supply is much greater than demand in the housing market, this wont work its way out for quite some time.