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The U.S. Homebuilders ETF (XHB) is in bear market territory…down 24.68% from its peak on January 24 of this year.
On a year-to-date percentages gained/lost basis, it has drastically underperformed the 9 U.S. Major Sectors, as shown on the graph below.
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| Year-to-date % Gained/Lost graph of 9 U.S. Major Sectors + Homebuilders |
[edit] As if on cue, out comes Anthony B. Sanders with… US Housing Starts Plunge Under Rising Interest Rates
I agree with you, this does not look healthy.
I doubt any other chart has received so much “short this because of the analog” attention as CBL & Associates. So far, so good………..what a wreck!
I was bracing myself for horror and terror this morning. Ummm, not yet. Out of 70 positions, want to know how many were stopped out?
Two.
Anyway, here’s one of the survivors that it absolutely dynamite: my Brandywine Realty short.
While thumbing through the paper (which has become a munificent source for anecdotes lately), I saw this advertisement. The image is a bit odd because this is a scan of a newspaper, so you can see some of the very exciting specials from the Willows Market advertisement on the other side of the same page. Still, you can make it out pretty clearly:
Alan Greenspan, Benjamin Bernanke, and Janet Yellen must be laughing their wrinkly assess off, now that goy-boy Jerome Powell has been stuck holding the biggest stinking bag in the history of the universe. What a schmuck. And he seems like a pretty decent guy! Shame.
Anyway, in spite of this completely fake, phony, fraudulent bull market of the past nine years, I’m still a believer in the cyclic nature of – – well – – everything – – and while the politicians and media celebrate record lows in the misery index (shown below, thanks to SlopeCharts), it should strike abject terror into the heart of thinking people………..like yourself.
Preface to all sector posts: This weekend I’m organizing charts in a different way. I’ve picked from my existing portfolio of live short positions and have grouped favorite shorts in specific sectors. Here are the selections for this group, and hopefully the markups will speak for themselves.
I’ve mentioned this one as a short dozens of times here and on tastytrade; I’d say there’s plenty lower prices to come.
For those curious how much the stock weakness in Facebook has damaged Palo Alto apartment rents:
Pretty interesting, from a charting perspective; check out the symmetric triangle:
