most likely why it didn't get a rise from me...but you know what, Teah was talking about babyboomer real estate was a good place...should we look bother looking at these levels?
The homebuilders and the retailers have been the most beaten up sectors the last six months, so part of what we are seeing is an extremly oversold condition, which causes the shorts to cover, the traders to jump in, and the bottom fishers to go long.
In any event, you are correct in assuming that one would (or could) pick up some grip from this situation and be ready to exit at the first signs of weakness.
Keep in mind that this oversold condition was throughout the whole market and alot of grip has been made in the last couple weeks off this condition.
I use the S&P 500 as my overall market sentiment indicator, and as you can see it has approached the first resistance and may rest here and retrace. We had to go back a year and a half to find support for this recent selloff. That goes for alot of the stocks that did the same thing and have very similar looking charts.(although not necessarily 1-1/2 yrs back)
I do like the increased volume of WCI and that it is running for the 200MA @ 10.32.
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