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IBDvalueinvestin (99.65)

Wall Street Games continue

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3

June 23, 2010 – Comments (3)

As Usual wall street is playing games by saying both yesterday and today that housing numbers have plunged. They are trying to get cheap shares ahead of earnings in July. 

Everyone knew housing would go down after the record sales in March and April. 

So what wall street is doing is to try and get shares low so they can buy ahead of earnings.

 

Remember we are already down over -12% from highs.

3 Comments – Post Your Own

#1) On June 23, 2010 at 10:15 AM, IBDvalueinvestin (99.65) wrote:

Oil dropping like a rock in water is good news for consumer spending and oil dependent profit margins on many industrials including air lines.

 So the fear by Wall street is not all bad, at least they are dropping Oil and Gasoline prices. That in itself is a major Stimulus to the economy. 

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#2) On June 23, 2010 at 10:28 AM, IBDvalueinvestin (99.65) wrote:

Look at how bad RTH has dropped from Jun 3 at $98.35

to current June 23 at $91.40

Shows oversold condition,

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#3) On June 23, 2010 at 12:13 PM, IBDvalueinvestin (99.65) wrote:

To prove my point, the market is down today on housing numbers but housing stocks and housing indexes are up today.

 

The news was already baked in folks and all the nonsense you see on TV or Bloomberg is backward looking, in fact there are analysts that are saying that today's number is the housing bottom and thats why housing stocks are up even with today's numbers.

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