Editor's note: In this edition of "360 Degrees,"
RealMoney commentators take a look at the homebuilding sector, prompted by the latest report from
(TOL - Get Report). The spotlight still burns on this sector, as Nick Yulico points out this morning with his
of today's existing home sales report.
TheStreet.com has always believed that offering a wide variety of opinions and viewpoints -- rather than a monolithic "house view" -- helps readers make better-informed investment decisions. In that spirit, we bring you "360 Degrees."
"360 Degrees" is a feature that takes advantage of the diverse stable of contributors to
RealMoney, who offer analysis of stocks and the markets from all angles -- fundamental vs. technical, short-term trader vs. long-term investor.
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Still Not Time to Move Home, by Dan Fitzpatrick
This column was originally published on
Aug. 22 at 11:21 a.m. EDT.
This week, the market seems fixated on the housing numbers. Today we heard from
(TOL - Get Report)
. Tomorrow morning we get the July existing-home sales numbers. Yawn. Thursday brings the new-home sales numbers. Key point -- they're not going to be good. Everybody knows that. The question is whether they are going to be as bad as everyone expects.
When it comes to the homebuilding stocks, there are three camps -- and two of them are inhabited by bears. First is the
aggressive ursine bunch
who believe that these stocks are only resting on a cliff before moving much lower. Second are the more
, who still don't like the sector but feel that it's a crowded short. Finally, there are the apologetic, tentative bulls anticipating a sustainable bottom. These are the folks who believe that all the bad news has already been factored into the sector.