AI
Tuesday, April 27, 2004 9:28:47 PM
The King Report- Dan, Thanks for posting that excerpt.
>> The average 30-year mortgage rate fell to 5.45% in March from Feb’s 5.63%. The 5.45% was the lowest average rate since June’s 5.23%. Last week the figure hit 5.94%.<<
Looks to me that April numbers may disappoint. It will be interesting to see what the mortgage numbers are for last week at 7am tomorrow.
Homebuilders- The index shows the 20ema has crossed under the 50ema. However the index has moved back just above the 20ema and just below the 50ema. This has me sitting on the fence with my homebuilder shorts. A move above the 50ema will have me covering some for profits. A move back below the 20 and I will add. As long as the 20 stays below the 50ema I have to keep something short in the builders.
>> The average 30-year mortgage rate fell to 5.45% in March from Feb’s 5.63%. The 5.45% was the lowest average rate since June’s 5.23%. Last week the figure hit 5.94%.<<
Looks to me that April numbers may disappoint. It will be interesting to see what the mortgage numbers are for last week at 7am tomorrow.
Homebuilders- The index shows the 20ema has crossed under the 50ema. However the index has moved back just above the 20ema and just below the 50ema. This has me sitting on the fence with my homebuilder shorts. A move above the 50ema will have me covering some for profits. A move back below the 20 and I will add. As long as the 20 stays below the 50ema I have to keep something short in the builders.
Joe
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