stefaith

Dangerous Optimism in Homebuilders

MR.MARKET has been alternating between manic and depressive moods with regard to the builders. No amount of data seems to have any effect on the price. Yesterday was a manic phase. Of course there is a limit to how long the market can run on empty, but it seems that the limit is higher than I or any rational person would think.

I am also short, and waiting for reality to bring the prices down again.