Nothing like taking advantage of public resources, like the library. But, business is business, and you do what you have to do.
So, rather than give the overseas boxscore, let's just cut to the chase and look at the homebuilder index that was released in the last 30 minutes.
Well, the NAHB, which stands for National Association of Home Builders, has an index that rose a point in September (to 19) from 18 in August. This is the highest level the index has seen since May 2008 and is the third consecutive monthly increase. As this is good news, and the markets are responding in a postive tone (Dow is up 100 pts as of this writing), an index reading above 50 means homebuilders are feeling good. Obviously, we have some time till the builders are celebrating.
Nonetheless, an up trend needs to start somewhere. More later.
Talk to you,
Todd M. Schoenberger, Managing Director
LandColt Trading, Inc.