They held this pig up all day. Then right when the MOC (Market on Close) orders were released at 3:40 ET we saw a volume (not on chart) spike down and then a gap down on the subsequent candle, if you look closely you can see it. I remarked to a friend... rut roh, something ugly is coming after the close. And what was it? BZH being investgated for Fraud in connection with mortgage lending. After the close we saw other signs before the news release, like SMH trading a big slug of volume under the day's lows. The BZH news hit the tape at 16:32, but SMH, BZH and the rest of the builders had already started tanking... before the coverup oil story was released. But they had to have something else to blame this tankage on instead of the truth... They never quit, do they?
Edited by SemiBizz, 27 March 2007 - 06:46 PM.