Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

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

By

Strengthen your portfolio in good times and bad.

PrintPRINT

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.

Actionable ideas, instant analysis. Real-time from bell to bell.
Minyanville's Buzz & Banter - 14 day FREE trial

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE