By Markos Kaminis (Wall St. Greek): On January 23rd I wrote, "Time to Take Profits in Happy Homebuilders," and the stocks promptly added to their gains on the same hopeful speculation that has lifted them since October. However, the housing data flow since has not been supportive of the flaky follow-through. I suspect reality is finally sinking into the heads of housing longs now though. Thus, I expect an outflow of short-term trader capital will be followed by mass exit from the group before long. In fact, I believe the near-term peak has just been set. In my opinion, there has been a mismatch of capital and fundamental drivers that is about to be set straight, and in my view, that's bad news for the shares of builders.
As an economic prognosticator, I've often been early with bold contrarian and always independent and unbiased views, but not often wrong. In early 2011, I saw the set-up
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