Sales of new homes unexpectedly plunged in November at the sharpest rate in more than a decade, falling 12 percent to the weakest annual rate since July, the Commerce Department (news - web sites) said on Thursday.
Sales last month faltered in every region except the South - the largest regional market -- where they were up 13.6 percent. By contrast, sales fell 7.1 percent in the Northeast, 27.9 percent in the West and by a whopping 39.4 percent in the Midwest.
It might be in the late innings but the market is shrugging it off on low volume selloff. Monster up move in WLS coming selling at under 5 times earnings now, no analyst coverage and possible acquistion candidate as the market tops in the first quarter..
Could happen, I've seen some radical up moves (of course followed by down moves). Company isn't worth a dime north of $50 (& that's in a rapidly expnading market), but then again that's if someone uses real money, not the play-stuff most HB stocks are today. Someone could take over WLS with their overpriced currency, but my feeling is that it will happen after the next leg downward........Good luck to all.....