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June home sales down 8%. Some say its due to low inventory. All the same that's 8% less going to the revenue. Inventory is actually about same last 3 month. So I don't think you can blame it on low inventory.
CAT sold off today after 5% gap up open. Street doesn't believe the optimism expressed by CAT.Home builders probably in the same boat. Difference is high high PE , PPS near all time high.
They have to beat earnings significantly for share to rally. Street is in selling mood. Best they can hope for is stay in range.