Housing stocks are approaching my buy-in price; I used yesterday's downgrades to buy some PHM, HOV, and BZH. Other companies like DHI, MDC, and RYL are still above the buy-in price, but they are getting there. I hope to see my housing selections in CAPS underwater for the next couple of months so that I could find some good bargains for my real-money portfolio.
IRBT has announced several good news, which upon a closer consideration don't look nearly as good. First came the announcement at the condference that the plan to launch some new product category(s) in the second half of the year is well on track. Then the press release said that Germany has ordered another 22 PacBots. Yet another press release informed us that the CEO and a couple of other executives terminated their selling plans. The caveat? All 3 events happened in one day. It just so happened that Germany presumably let IRBT know of its decision precisely at the day of the conference, at 3 am Greenwich time, and that Colin Angle has decided to terminate his plan at exactly the same time. In a further evidence that great minds think alike, the other insiders have made the same decision at exactly the same hour of the same day. What a coincidence! [more]
OK, the correction has taken us down a few percent, so I'm now a bit less bearish than a weak ago. While most of the market is still way overpriced, some more reasonable valuations are beginning to appear. [more]
Another Black Tuesday whose significance is being grossly exaggerated. "The major selloff", "The biggest drop since 9/11", "the market correction" that everybody is talking about is really a storm in the bucket. [more]