See Larry's Post.
Ok lets not get too excited, we have seen this movie before and it didn't end well. We saw a big drop in mid-2011 only to see it rise like a phoenix to new heights and I am not even talking about 2009 when tweedle-dee and tweedle-dumb rigged the system so that we were denied our correction.
Fingers crossed.
Lets see what the official number say and how the GVREB spins it.
Oversold enough for a bottom?
-
*Mid-week market update: *I wrote on the weekend that conditions were
setting up for a panic bottom (see Here comes the sentiment flush), but one
final flu...
2 days ago
average detached down 8% compared with last year
ReplyDeleteApril 12 – $1,106,683
April 11 – $1,204,587
The volatility is a good sign for bears.
ReplyDeleteLooks like a classic double top to me - not unlike the TSX in 2008.
The same realtor-hoarder in our neighborhood is at it again, telling anyone who would listen that the house prices won't crash any time soon. She did exactly the same during 2008/2009 mini-crash.
ReplyDeleteWhen we cross $1 Million on the downside then we will be in business.
ReplyDeleteThankss for posting this
ReplyDelete