Re: [CANSLIM] Housing sector

From: "Norman" <theboyd@tisd.net>
Subject: Re: [CANSLIM] Housing sector
Date: Tue, 27 Aug 2002 09:40:53 -0500

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As if WONs advice to ignore analysts wasn't enough, the news over the last
year should be enuf to convince anyone that there is too much conflict of
interest to listen to these stock pimps.  If you listened to Michael Sivy in
1995-96 you went to cash to wait for the tech crash; and then missed all the
fun in '99 & 2000<grin>  I think Money mag even printed a
"retraction/explanation" of sorts some time after that recommendation.  I
have a lot respect for Sivy but only Saruman and Sauron have crystal balls
and even they failed in their quests.

I'll let the technicals tell me when I need to worry (which seems to be
toooo often lately).

Norm
- ----- Original Message -----
From: "Kelly Short" <kelly.short@tx.us.neoris.com>
To: <canslim@lists.xmission.com>
Sent: Tuesday, August 27, 2002 9:27 AM
Subject: [CANSLIM] Housing sector


CBS Marketwatch has been predicting the demise of the golden-as-of-late
housing sector over the past few days. Then, the latest figures show a
record month for new home sales. Another example of "analysts always being
wrong" (WON) or something else? Anyone have any thoughts?

>From Dismal Scientist:

- -----------------------------------------------------------
Economic Releases Updated Monday  08/26/2002
- -----------------------------------------------------------
RELEASE: Existing Home Sales [United States] (5.33 Million)
FIRST TAKE: Sales of existing homes advanced off of the June lull, but
remain below the frenzied pace of sales hit in the first half of this year.
Low mortgage rates will continue to support housing demand, despite a
lackluster expansion, some retreat in consumer confidence, and rising house
prices.

RELEASE: New Home Sales (C25) [United States] (1,017,000)
FIRST TAKE: New home sales surprised on the upside, with sales hitting a new
record. Near record low mortgage rates are keeping the demand for homes very
strong.

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