FOREX TRADERS

[Worn_Buffet]

Pending home sales fell modestly in October

Tuesday December 9, 2008, 10:44 am EST

Yahoo! Buzz Print WASHINGTON (Reuters) - Pending sales of existing U.S. homes fell by a smaller-than-expected margin in October, data showed on Tuesday, raising cautious optimism of some stability in the distressed housing market.

The National Association of Realtors Pending Home Sales Index, based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September.

Here's the rest

http://finance.yahoo.com/news/October-pending-home-sales-rb-13782899.html

& I gotta say...I realize the mrkts are approx 3 mos forward lookin (at the most) but when it begins to react the way it should to reports like this...as in trade down on negative news, then we may finally be able ta say we're at or near the bottom.

I do not feel that #'s that aren't quite as bad as what was expected is a good sign...or at least viewed as a bullish indicator. Seems the mrkt these days views this kinda news as bullish....lookin for any reason whatsoever to rally on I guess.

What should be occuring here is that instead of the dow trading down 150 on this news....it should maybe trade down 75....instead we were shootin par thus far on the day....which is too bullish for this kinda news imo. Tho as I write this I see where indeed it is down 80ish....so perhaps we're finally gettin back ta basics ever so slowly here?

Negative #'s no matter how "good" they are should still be traded as such....just b/c it aint quite as bad as was being predicted is no reason for a green day.

Maybe Greenland could answer this being that he swings the big stick.....how on earth can the big boys trade a mrkt where black is white & up is down?

I guess we can look to all the Hedge Funds that have been goin under aqua & will continue doing so over the next few Q's going forward to answer this ? since Greenland may not even be reading the board here.

Just seems like an impossible market to trade when the fundi's mean squat.