New housing data is getting the CREDIT for this early afternoon sell-OFF.
First of all,the housing data is reflecting "fire sale" by builders as they are getting desperate to UNLOAD INVENTORY.
Bond market RISE in interest rates gave the excuse to lock profit/short the market for few hours....................
I will not be "surprised" to see most of the down move erased by the close...................I do not know what the explanation will be THEN.....................
This is a normal zig zag in a bull market..................interest rate environment is very WEAK....so there will be a cut by end of the year.
Try to take advantage of these JITTERINESS & 4 hour Sale prices...............wall street is very generous in PANIC selling.
Have your portfolio ready for next LEG UP in this strong bull market.
Good luck for the next 2.5 hours left in this opportune trading day.
Do your own due diligence & have your OWN comfort level with all this YO YO moves.
BLOG does not give buy or sell.
Saleem
No comments:
Post a Comment