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Cramer on BloggingStocks: Housing stocks are key to this market |
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| Oct 05, 2009 03:40 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Housing, Cramer on BloggingStocks TheStreet.com's Jim Cramer says stocks connected to the sector will take it on the chin if the housing index falls further. A perusal of the charts this weekend shows something surprising: The weakest group out there has been the homebuilders for several weeks now. KB Home (NYSE: KBH) (Cramer's Take), D.R. Horton (NYSE: DHI) (Cramer's Take), Lennar (NYSE: LEN) (Cramer's Take), and Toll Brothers (NYSE: TOL) (Cramer's Take) have simply been a horror show. What's going on here? How can these stocks be so dangerous when mortgage rates have crashed through 5%, the level that every banker I talk to says mortgages jump off the table and refinancings rush to be done. What's going on? This group's tracking more than just mortgage rates. It's tracking employment and news flow and both are terrible. Continue reading Cramer on BloggingStocks: Housing stocks are key to this market Cramer on BloggingStocks: Housing stocks are key to this market originally appeared on BloggingStocks on Mon, 05 Oct 2009 10:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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