But, but, but... homebuilder stocks were surging early on - just like they did at one point yesterday - proving that 'they' know something right? Right? Homebuilders are now the biggest losers - down 3% from the highs - as KB Home's conference call slashes guidance, pulls land deals, and expects margin compression...
- *KBH SEES 1Q BOTTOM LINE ABOUT BREAK-EVEN (against expectations of a 17c rise!)
- *KB HOME CFO SAYS FIRST-QUARTER MARGINS EXPECTED TO BE DOWN
- *KB HOME PULLED OUT OF `COUPLE' HOUSTON LAND DEALS, CEO SAYS
Can you see where that news hit?
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And how it affected the broad homebuilder sector...
[3]
Of course the credit markets were somewhat rational through this pump-and-dump...
[4]
As stocks catch down to USDJPY (breaking 118)...
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Charts: Bloomberg
