The Roof Blows Off

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Remember our old friend Beacon Roofing? I first started talking about this chap when it burst above its uptrend late in 2017. I think there was a lot of chatter about hurricanes, and people seemed to reach the conclusion that everyone would need a new roof. Since this hurricane-fueled mania, this sucker has been grinding lower, and I was delighted to see it plunged 20% this morning. Here is BECN:

Of course, when the housing market starts collapsing again, I suspect it’ll just keep grinding lower. One by one, the dominoes are falling.