BOSTON (MarketWatch) -- KB Home reported Thursday that first-quarter profit dropped 84% and cautioned that problems in subprime mortgages and imposition of stricter lending standards may put more stress on what's already a wobbly market.
"It is hard to predict when the housing markets will stabilize," said Chief Executive Jeffrey Mezger.
A little denial right now but we have to cycle through the process of offloading more stock inventory. Bad news is being spinned as good news because of an "upcoming rate cut". We also have some stronger than expected labor data, which is giving the dollar a boost (and doubts about a cut...): link
All in all, probably some chop as everything gets digested. A bit of news for everyone, but the trend is still up until proven otherwise.
NQ did indeed find resistance at Feb gap open, let's see if bulls can get back in there. Support is at 1815, 50 DMA, don't fight the tape if it wants to go up.
Oil is up above 61 and that was the easiest trade to get into last night.
"It is hard to predict when the housing markets will stabilize," said Chief Executive Jeffrey Mezger.
A little denial right now but we have to cycle through the process of offloading more stock inventory. Bad news is being spinned as good news because of an "upcoming rate cut". We also have some stronger than expected labor data, which is giving the dollar a boost (and doubts about a cut...): link
All in all, probably some chop as everything gets digested. A bit of news for everyone, but the trend is still up until proven otherwise.
NQ did indeed find resistance at Feb gap open, let's see if bulls can get back in there. Support is at 1815, 50 DMA, don't fight the tape if it wants to go up.
Oil is up above 61 and that was the easiest trade to get into last night.
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on Thursday, March 22, 2007 at 3/22/2007 10:11:00 AM.
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