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May 16, 2008
Housing Starts Plunge Up and Down. More at 11.
I love when you get two contradictory headlines about the same piece of news. Case in point, here is my friend Barry on the latest housing starts data, following by a WSJ headline on the same nugget:
With housing starts apparently plunging up and down in the space of an hour -- the two stories were published 45 minutes apart -- you can see why this market is so tough to trade.
Marginally more seriously, Barry is talking about year-over-year comparisons, of course, while the WSJ is talking about a consecutive month improvement. I hate agreeing with Barry, but I am generally more interested in the y-o-y data. That said, last year there was no April housing starts bump, but this year there was one. Probably meaningless, but there you are.
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