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Two Ways: Extreme Price Makeover, Home Edition


Strengthen your portfolio in good times and bad.


Median Home Price Drops

Compared with the same period last year, the median price for single-family homes plunged 14% to $169,000 in the first quarter. A story by the Wall Street Journal that cites data by the National Association of Realtors says this marks a 26% drop from the 2005 peak of $227,600. Approximately half of all transactions during the first quarter were conducted by first-time home buyers, the trade group said, and many of them centered on foreclosed homes - a fact that dragged down the median price.

Sales of single-family homes and condos fell 6.8% from a year earlier to a seasonally adjusted rate of 4.6 million units. Revisit Professor Andrew Jeffery's Keepin' It Real Estate: Subprime Lending is Back With a Vengeance.

From the Bull Pen: For upside exposure, bulls can look to the coal sector with a play like Arch Coal (ACI). The stock could be basing for another move higher. A sell stop can be set below $17.

From the Bear Cave: In real estate, one can consider a downside play in The Macerich Company (MAC). The stock could be tracing out a bearish double top formation near $20. One can set a tight buy stop above that level.

Quick Check Around the World

Asian trading closed with the Hang Seng -0.55%, India -1.14%, Nikkei 0.45%, Shanghai 1.74% and Taiwan 0.82%.

Glancing towards Europe, we see the CAC -1.24%, DAX -1.91%, FTSE -1.27%,

As of 8:15 AM EST, S&P Futures are trading -7 to 908.00, and Nasdaq futures are -17 to 1377.00.

A Look at Commodities

Over in commodities, crude oil is trading +0.07 to 58.92 while gold is -0.60 at 923.30 this morning. Silver is -0.750 to 14.14 and copper -2.50 to 206.50.

The dollar index is +0.1650 to 82.5850.

On the Radar


08:30 Export Prices ex-ag
08:30 Import Prices ex-oil
08:30 Retail Sales -0.1%
08:30 Retail Sales ex auto 0.0%
10:00 Business Inventories -1.1%

Click here for the full trading radar.

Let's get over this hump. Good luck and have a great day!

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No positions in stocks mentioned.

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