Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

August 1, 2018 | Housing-Sector Blues

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

Plans to buy a home in the next six months have fallen to their lowest level in more than two years, according to a Zillow report published Tuesday. There were other worrisome signs in residential real estate. For one, sales of existing homes have fallen to the slowest pace since September; and for two, new homes are selling at the lowest level since October 2017.  Read the whole story here. Will Wall Street continue to shrug off the darkening picture in housing? Probably yes, provided enough investors are worried about  it. If you’re looking for a better reason to be bullish, imagine how the stock market would react to news of a thaw between the U.S. and China over tariffs. If it happens and shares surge, shorting into the rally would be a bear’s dream come true, as far as we’re concerned. Will we be so lucky, or will stocks collapse without warning from current levels? We may be about to find out.

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.

August 1st, 2018

Posted In: Rick's Picks

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site

*
*

This site uses Akismet to reduce spam. Learn how your comment data is processed.