Home Data

by Larry Levin


The housing data just keeps getting worse in small but consistent chunks. How can "the low" be in for housing prices, as the lame stream media would have you believe, when this continues with each report? "What is, 'Whistling past the grave yard?' Alex." "That is correct for $500."

Existing home sales in plunged more than expected last month. Sales fell 16.7% for the largest monthly decline in data going back to 1968! Declines were seen in all regions especially here in the Midwest and were split evenly between single-family homes, down 16.8%, and condos, down 15.4%.

What's more, today's report showed a rise in the supply of homes to 7.2 months at the current sales rate vs. 6.5 months last month. A rising supply always chokes off price so; if this trend continues as I believe it will the recent firming of home prices is sure to fall again.


Previous Day's Trading Room Results:

Trade Date: 1/25/10

E-Mini S&P Trades*
(before fees and commissions):


1) Engf buy @ 10:04am at 1094.00 = -1.50 (1 lot)

2) Algorithm positions (6)

3) "Reading the Tape" positions (0) ...combined Secret's, Algo, & "Reading the Tape" total...-0.75



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