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Michael Clark
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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: His writing portfolio can be found at:... More
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Clark's Gate Timing System ©
    Sep 26, 2009 3:51 PM | about stocks: DHI, KBH, CUT

    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
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