YEAH – I’M FEELING BEARISH TOO! The shortened Thanksgiving trading week brought a bit of tryptophan early, as offices were thinly staffed and trading volumes were muted. The bearish tone from the previous week’s action persisted as pricing pressure kept its southern tilt. Even Wednesday’s release of the October New Home Sales beat couldn’t spark the sluggish market, as starts came in a 632k versus the 575k consensus, exceeding the prior month’s revised mark of 588k. We will take to the good news! With the short week, I will follow suit and jump right into the place I like to call: ‘The Wonderful World of Wood”. Enjoy…
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