Friday, June 22, 2007

Utilities and Homebuilders



Just a quick updated on some of my short positions... Obviously this week was a good week for me since I'm short this market. As you can see in the above chart both the homebuilders and the utilities made new lows for the month.

If we see some follow through selling next week, I'll probably exit half my short positions.. I'd like to see the HGX (homebuilding index) test the year low which was made in April and the UTY index test last March's low. I think those two spots would be a great place to book some profits.

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