Thursday, August 23, 2007
Sector Spotlight: Homebuilders
Gee, Mr. Mozilo is one heck of a rally killer, with his "housing will lead us into recession" rhetoric. See, it's important to ignore statements from desperate men, like that tanned fucker.
Just because his life is a living hell, doesn't mean CROX, AAPL and RIMM can't do well.
Long story short, we will probably be down 1%+, by the close of trading today.
There are some sign's of life, specifically in the homies, drugs and oil stocks. Actually, within the homies, it's a tale of two cities. There are gains to be found in OHB, CHCI, BHS, MHO, LEN, WCI, PHM, TOL and KBH, while BZH, LEV, NOBH and MTH suck balls.
In short, stay away from the homies.
The brokers are weak, with the exception of BSC and JEF.
The biggest losers today are found in the basic resource sector, with mammoth losses in NUE, ROCK, X, ATI and SCHN.
Basically, I got greedy chasing ATI, after such a strong rally. I should have been content with my FCX and CENX gains. Instead, I am here enjoying the other side of the mountain.
Naturally, the market isn't going to recover overnight. Theories of a "v shaped" recovery is wishful thinking, not realistic.
However, I do believe the odds are stacked against those who are short, mainly because the trade is very crowded.
During this decline, I might nibble at some ATI, LNN and MVIS, or do nothing. I might just sit here, laughing like a senile crazy man, while throwing paper weights at my trader/servant.
Just because his life is a living hell, doesn't mean CROX, AAPL and RIMM can't do well.
Long story short, we will probably be down 1%+, by the close of trading today.
There are some sign's of life, specifically in the homies, drugs and oil stocks. Actually, within the homies, it's a tale of two cities. There are gains to be found in OHB, CHCI, BHS, MHO, LEN, WCI, PHM, TOL and KBH, while BZH, LEV, NOBH and MTH suck balls.
In short, stay away from the homies.
The brokers are weak, with the exception of BSC and JEF.
The biggest losers today are found in the basic resource sector, with mammoth losses in NUE, ROCK, X, ATI and SCHN.
Basically, I got greedy chasing ATI, after such a strong rally. I should have been content with my FCX and CENX gains. Instead, I am here enjoying the other side of the mountain.
Naturally, the market isn't going to recover overnight. Theories of a "v shaped" recovery is wishful thinking, not realistic.
However, I do believe the odds are stacked against those who are short, mainly because the trade is very crowded.
During this decline, I might nibble at some ATI, LNN and MVIS, or do nothing. I might just sit here, laughing like a senile crazy man, while throwing paper weights at my trader/servant.
Comments:
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No comments on the SPY option activity yesterday? 10K volume on almost all the "in the money" strikes?
the chinese are buying S&P futes .. they're already dicking around with our market with all the dollars they have .. they are swimming in dollars ... they are gonna take over parts of this country without firing a single shot ... they be buying equities & they'll be buying up real estate soon enough
Hey dirtdiggler,
Did you see the new patent application for a portable projector from mvis. Also, click on image tab and look at the drawings. Pretty neat stuff.
http://tinyurl.com/2yux4h
Did you see the new patent application for a portable projector from mvis. Also, click on image tab and look at the drawings. Pretty neat stuff.
http://tinyurl.com/2yux4h
Mike--
That statement shows how out of touch you are.
These guys are all rich, it's a given. His life is not a living hell because he can't afford stuff, his business blows.
Once you understand the distinction, then you will comprehend my position.
That statement shows how out of touch you are.
These guys are all rich, it's a given. His life is not a living hell because he can't afford stuff, his business blows.
Once you understand the distinction, then you will comprehend my position.
and if you can't see the drawings you may have to install this TIFF file viewer.
http://www.uspto.gov/patft/help/images.htm
http://www.uspto.gov/patft/help/images.htm
Seriously, Dude looks like the host at Caesars Palace... YO Angelo can you get me a couple tickets to the fight tonight.
http://patrick.net/wp/wp-content/Mozilo1.jpg
http://patrick.net/wp/wp-content/Mozilo1.jpg
Sorry, that link for the patent doesn't work.
try this.
http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2FPTO%2Fsearch-adv.html&r=1&p=1&f=G&l=50&d=PG01&S1=20070195294.PGNR.&OS=dn/20070195294&RS=DN/20070195294
try this.
http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2FPTO%2Fsearch-adv.html&r=1&p=1&f=G&l=50&d=PG01&S1=20070195294.PGNR.&OS=dn/20070195294&RS=DN/20070195294
Bruce,
Cool your jets on the Chinese. I seem to remember the same hand wringing about the Japanese back in the late eighties.
Like the Japanese, they are nothing without this market, and if they start buying real estate, you'll know the top is in, just like last time.
Worse comes to worst, their's always the Hong Kong option if they start owning "too much."
Cool your jets on the Chinese. I seem to remember the same hand wringing about the Japanese back in the late eighties.
Like the Japanese, they are nothing without this market, and if they start buying real estate, you'll know the top is in, just like last time.
Worse comes to worst, their's always the Hong Kong option if they start owning "too much."
jake .. i have nothing against the chinese except they are the biggest polluters on the face of the earth ... no regard for the planet .. not that i am a tree hugger .. not that anythings wrong with that .. the japanese are notorious top tickers & bought our real estate at a peak & puked most of it up .. the chinese oth will be getting in at the bottom
whats the hong kong option?
whats the hong kong option?
Bruce --
The Hong Kong Option is the same real estate play they pulled on the British.
Possession being nine tenths of the law, and all that, we'll just eminent domain their asses.
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The Hong Kong Option is the same real estate play they pulled on the British.
Possession being nine tenths of the law, and all that, we'll just eminent domain their asses.
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