Edited by xD&Cox, 23 February 2007 - 11:51 AM.
I closed my eyes and shorted home builders
#1
Posted 23 February 2007 - 11:49 AM
#2
Posted 23 February 2007 - 12:11 PM
http://ichart.finance.yahoo.com/z?s=IYR&t=3m&q=c&l=on&z=m&a=v&p=s&.png
It also trades options so you can get a volatility surface and react...
- kisa
Edited by kisacik, 23 February 2007 - 12:17 PM.
#3
Posted 23 February 2007 - 12:13 PM
this morning. This is a short term trade as I jumped into the sector in the middle of an unmapped region. So I may get out quick as well.
The thought I had was I wouldnt get the strength I was expecting to short... Maybe from lower levels but not here. The sucker fast and accelerating.
This is not my style at all. I dont like chasing but I had no choice this time.
There are two things that worries me: Losses and missing profits
So I had to do it.
I was gonna post it but TT was down
I don't like chasing either, but some times you have no choice. Seen this yet?
Housing analyst David Seiders told Chicago-area builders Thursday that the federal estimate of 3.5 million homes for sale at the end of 2006 is "grossly understated."
"There is a big inventory overhang out there, and it's bigger than anybody understands," he said.
Chicago Tribune
#4
Posted 23 February 2007 - 12:21 PM
ck out the lifetime weekly for NFI...and note where today's 8.42 resides..risky, but may be a daytrade or more
you seem to like short setups....unusual strength in NETL and NVTL..NETL has small float and high short interest..I bought it on the CSCO initial weakness in earnings night..sold today..set up as of now posted here -
http://www.websiteto...post?id=1722282
a further NETL breakout may be worth trading long again
#5
Posted 23 February 2007 - 12:27 PM
#6
Posted 23 February 2007 - 01:50 PM
#7
Posted 23 February 2007 - 02:38 PM
#8
Posted 23 February 2007 - 02:54 PM
This is not my style at all. I dont like chasing but I had no choice this time.
Check my replies to one of your threads two weeks back. I gave you the perfect time to short following your method (trendline hit for the entire sector, weakness in some individual components).
It's the illiquidity, stupid !
#9
Posted 23 February 2007 - 04:55 PM
This will eliminate any doubts you may have had about shorting the HBs:
J6P's favorite investment advisor loves HBs