Seeking Alpha

Michael Clark's  Instablog

Michael J. Clark was born and raised in Sinclair, Wyoming. He is a poet, novelist, artist, historian, and market analyst. His fine arts portfolio can be found at the following address: http://www.hoalantrangallery.com/MJC2.htm His writing portfolio can be found at:... More
My business:
Clark's Gate Timing System ©
  • TIME TO CHECK OUT ON HOUSING STOCKS? 0 comments
    Sep 26, 2009 03:51 PM | about stocks: DHI, KBH, CUT
    IS IT TIME TO SHORT HOMEBUILDING STOCKS?

    I don't short a stock until it's long-term trend turns negative.  None of these have seen the long-trend go negative.  But KBH and DHI are both banging up against pretty crucial short-term support levels.  Both stocks have had troubled getting through and holding above overhead resistance.  I've made notes on the charts below.  I'd consider selling both KBH and DHI, taking profits if one could.

    Hovanian seems to be making a head-and-shoulders type top.  It doesn't look good.

    Also, below, is a chart of HGX, the Housing Index, which is still a positive chart, but approaching a support level it does not want to break.

    And CUT (Lumber ETF) looks pretty nasty at the moment.  If housing was really coming back, lumber would probably be looking stronger than this.








    Themes: Housing Sector Stocks: DHI, KBH, CUT
Back To Michael Clark's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers

StockTalks

More »
Posts by Ticker

Latest Comments


Most Commented
  1. THE DEFLATION FEAR: WHAT IS IT REALLY? (23 Comments)
  2. THE MAGIC OF 3: WHERE DO NUMBERS COME FROM? (10 Comments)
  3. Why We Need Deflation (8 Comments)
  4. JAPANESE DEFLATION: WHAT DOES IT MEAN FOR AMERICA AND THE WORLD TODAY? (8 Comments)
  5. DOW JONES INDUSTRIALS/GOLD RATIO AND DAY AND NIGHT CYCLES (8 Comments)
Posts by Themes
Asian Indexes, BEAR TRAP RALLY, Currencies, deflation, Dow Jones Industrial Average, European Indexes, gold stocks, Housing Sector, Taking profits, Top 25; Bottom 25; Goldman Sachs Doomsday Machine, Wall of Worry, World Indices
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.