Two Ways To Play: Bringing Down The House
Strengthen your portfolio in good times and bad.
The Mortgage Insurance Companies of America said almost 74,000 homeowners with privately insured mortgages fell behind on their payments by more than 60 days in the month of April. This compares with 39,584 who got back on track.
Further, the Hope Now Alliance said today that 183,000 homeowners were able to work out new borrowing terms with lenders to avoid foreclosure filings. It was the largest since Treasury Secretary Hank Paulson and members of the mortgage industry first formed the unit last year.
For more context on our economy, see Professor Mish Shedlock's S&L Crisis Vs. Current Crisis.
From the Bull Pen: "Wants vs. Needs" continues to be the theme. Why overthink it? Bulls are content with positions in Wal-Mart (WMT) and Costco (COST).
From the Bear Cave: Bears believe the data confirms that the last rally in the homebuilders ETF (XHB) was a bear-market rally and the breakout above the 200 DMA was a false one.
Have a great weekend!
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