Replies to post #394498 on Zeev's Turnips Patch-No Politics (ZEEV)

[Must Be Patient]

I've decided (yet again) not to short the homebuilders. The bounce off the recent low was on relatively large volume, and it would seem the odds of a new high are high enough to make shorting here not worth it to me.

http://stockcharts.com/def/servlet/SC.web?c=$djushb,uu[w,a]waclyiay[de][pb50!b200!f][vc60][iUb21!Le1...

[Joe Stocks]

I have no homebuilder shorts here. They do seem to be frothy but everything is still going their way. Lo0ng term rates just can't seem to find a footing.

I think the weakest of the bunch are MHO, RYL, MDC, BZH. I will work on a position trade around these. TOL is a good trader but I only look at it as a daytrade.

We have existing home sales in the am tomorrow and new home sales for Wednesday. Looking at the mortgage ap numbers I can't imagine either one of these being too bad for April.

I'l probably stick my toe in the dark side soon but not today.