With XHB bouncing off its 200 day moving average today, we’re going to take the opportunity to spread our Long March 32 put that we bought on Friday Jan 17th (below): ACTION – Sold to …
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HD is nearing support near its rising 200 day moving average, from where the stock has bounced on several occasions in the past 6 months. With that in mind, and the fact that our put …
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Homebuilding-related stocks got off to a red-hot start in 2013, with XHB rising more than 20% in the first 5 months of the year. Since May 2013 however, when rates began their taper-spurred rise, the …
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In the past week, we’ve seen the following stocks cut guidance or report a major dud on earnings: SCSS down 19% on Monday after pre-announcing weaker sales and earnings, noting that “From Cyber Monday through …
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Homebuilders had a strong close to 2013, despite a weak second half of the year overall. The sector had been stagnant ever since the Fed tapering fears were first voiced and U.S. interest rates took …
Continue readingCitigroup’s earnings report this morning once again mentioned the weakness in the mortgage business. That follows the weak results in that division from WFC and JPM on Friday. So it’s as clear as can be …
Continue readingImprovement in the housing market over the last 2 years has been a major pillar of the economic recovery in the U.S., despite what has been a historically high unemployment rate during the same time …
Continue readingSimple chart today to illustrate the extent of the recent weakness in the housing sector (as longer-dated Treasury yields hit a 2 year high today): This is the first convincing break of the 200 day …
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MorningWord 8/15/13: After years of consistently low interest rates, U.S. GDP is stuck below 2%, unemployment is stuck above 7% and after a fairly impressive housing recovery in the last year or so there is …
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IN an economic recovery that has repeatedly trumpeted the housing recovery as one of its pillars, the XHB’s under-peformance to the broad market ytd (up ~12% vs the SPX up 18.50%) is quite interesting because …
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