Financials, home builders have likely hit bottom

ne year ago this August I used this space to identify a youthful bear market in the broader U.S. indices. The bear market call was easy for most technical analysts because we saw the trend line breakdowns in the housing stocks in mid-2006 followed by similar trend line breaks in most of the North American financial stocks in July 2007. I was suspicious of the historical July 19, 2007 close of the Dow Jones... [read full story]