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Posts Tagged ‘better than expected new homes sales’

THOUGHTS ON THE “BETTER THAN EXPECTED” NEW HOMES SALES

THOUGHTS ON THE “BETTER THAN EXPECTED” NEW HOMES SALES

better than expected cheerleadingCourtesy of The Pragmatic Capitalist

The financial news networks are just loving the “better than expected” news on new home sales.  It’s amazing the conclusions people will come up with by just reading headline news reports without delving into the details of an economic news release.  The real details of today’s new homes report shows substantial weakness.

I’ve been banging the drum on the seasonality of housing for many months now.  We see this every single year.  The spring buying season leads to better than expected sales across the board.  If you back out the seasonal adjustment you’ll actually notice that the climb in units was just 3K. Mark Hanson at Field Check makes an interesting point on the climb in units:

“One thousand homes selling in the Northeast and two thousand in the Midwest was the extent of the gain over May. Again, that many properties either got a Notice-of-Default or were foreclosed upon in CA TODAY alone.

The unadjusted year over year figures show equally weak data.  Prices are down 12% and sales are down over 20%:

saeshouse

Econoday notes the strength in the figures:

“But not all the news is great. Sales were given a boost by deep discounting as the median price tumbled 5.8 percent in the month to $206,2000. The year-on-year price change fell to minus 12.0 percent from May’s minus 4.5 percent. Evidently prices are finding their own level in what will help rebalance the market but will unfortunately increase negative equity and pressure on foreclosures.”

Onthe bright side, inventories of new homes came down from 10.2 months to 8.8 months.  This is without a doubt a positive, but it’s important to note the strong seasonal trends at work here.  The real test of the housing market will come in the 3rd and 4th quarters.

Source: Field Check Group

 


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Zero Hedge

The Stupendous Failure Of Big City Education: How The Philly Teachers Union Loots The Schools

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Jim Quinn via The Burning Platform blog,

It’s that time of year again – when the little juvenile delinquents, future prison inmates, and functionally illiterate junior members of the free shit army pick up their “free” backpacks and “free" school supplies they will never use and shuffle off to the decaying prison like schools in the City of Philadelphia to eat “free” breakfasts and “free” lunches, while being taught government sanctioned pablum by overpaid mediocre union teachers....



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Getting Technical: Weekend Update

Courtesy of Doug Short.

Here's the latest weekend update from Serge Perreault, a Chartered Professional Accountant and market technician located near Montreal, Canada. Serge has been following the U.S. market in a series of weekly charts. Here is his update on the S&P 500.

This week, the S&P 500 continued its ascension, on improving but still near-resistance momentum and on below-average volume. The index is now 193% above the bottom of 2009 and 28% above the top of 2007.

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Phil's Favorites

Dear Future American Generations, You Are Screwed

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Faith that the future will be better than the present is slipping, as despite President Obama's demands that Americans not be "cynics," a new report shows there is a major lack of confidence that the next generation will have it better than the last one. As WSJ reports, most strikingly, only 16% of respondents agree that job and career opportunities will be better for the next generation than for their own...



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Insider Scoop

Guess Shares Plunge On Weak Q2, Dim Outlook

Courtesy of Benzinga.

Related GES Guess? Discusses Its Poor Second Quarter And Outlook During Conference Call Markets Reverse Early Morning Losses; Still Lower On The Day

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Option Review

Puts Active On Buffalo Wild Wings

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All About Trends

Mid-Day Update

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Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Sabrient

Six Companies Push Tax Rules Most

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Courtesy of Sabrient Systems and Gradient Analytics

Gradient Senior Analyst Nicholas Yee reports on six companies that are using a variety of techniques to shift pretax profits to lower-tax areas. Featured in this USA Today, article, the companies include CELG, ALTR, VMW, NVDA, LRCX, and SNPS.

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Digital Currencies

Disgraced Mt Gox CEO Goes For Second Try With Web-Hosting Service (And No, Bitcoin Not Accepted)

Courtesy of ZeroHedge. View original post here.

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OpTrader

Swing trading portfolio - week of August 25th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

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Stock World Weekly

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Market Shadows

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Pharmboy

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Promotions

See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

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