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SPDR S&P Homebuilders ETF Message Board

  • john4455662000 john4455662000 Jun 23, 2010 8:06 PM Flag

    why were home builders up today? weird

    I am a long term investor and usually could care less about daily movments, but being up today after more bad news is just crazy. the general market was flat too so that didn't help it. any answers???

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    • My guess is that the smart money is getting out at the expense of their clients. Look at the put volume. Now what's weird is that for August high call to put ratio, but for September high put to call. The only explanation is that the market eliminated fears of rate increases with the fed results and dipping of treasury yields.

      It will all be clearer tomorrow with LEN results. If the homebuyer tax credit had the effect of pulling more sales into this quarter then its possible there will still be a last hurrah of positive news. The riptide is real, it will suck down some home builders, the only question is will they ride one more wave before it pulls them down.

 
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