GM and Ford both had significant kicks ~3% - now that is exuberance. Even when the confidence report said that the number of people who were likely to buy a car, or homegoods fell.
Lennar issued a profit warning saying that the housing market has pulled back faster than anticipated. Lowes expects the continued weakness, due to the housing problem, to continue into next year. Homedepot also issued a warning ...
Yesterday's hike (when the housing report came out) was attributed by Newspapers to technology and PMC Sierra's report overnight changed that sentiment quickly. HP and Honeywell also fell - so yesterday's cheer is yesterday's news. SOX went down and the NASDAQ up 0.6%. Microsoft and IBM showed plenty of strength.
I am waiting until all this huff and puff dies down before changing my sentiment. Although, the Bond market changed its sentiment so I could swing reasonably quickly.
DOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)