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Two Ways To Play: Market Huffs, Puffs, Blows Home Prices Down


Strengthen your portfolio in good times and bad.


Findings determined by the S&P/Case-Shiller Index show that home prices in 20 major US cities fell at the fastest rate on record. This suggests that it could be quite some time before the housing market bottoms.

New figures released today show the index plunged 18% through October - slightly more than the 17.9% dip economists were expecting. This follows a 17.4% drop in the 12 months through September, and, according to Bloomberg, the gauge has fallen every month since January 2007.

Downside momentum appears to be building as the problems shift from an oversupplied housing market to a poor economy.

For more context, see Prieur's Perspective: A Calmer 2009?

From the Bull Pen: The message from the homebuilders today is that the bad news is in and a rally is underway. Bulls can consider the ETF (XHB) with a tight stop near $11.50.

From the Bear Cave: Home Depot (HD) appears to be losing its momentum. Those bearish can test the downside with a tight stop near $24.

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No positions in stocks mentioned.

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