Disco Inferno Burns Housing Bears

There is an old joke on Wall Street…

Q) How do you know a CEO is lying?

see answer at bottom

While we don’t know if Robert Toll is fibbing, he is likely to score a slot on “Dancing With the Stars” after his comments today boosted housing stocks to six-month highs:

Toll Brothers Chief Executive Robert Toll’s comments Tuesday that some of the luxury home builder’s markets appear to be “dancing on the bottom” provided a lift for the battered sector’s shares a day before a big industry conference.

The CEO, known for his candid views on the housing market, said nearly a year and a half into the current downturn, “we may be seeing a floor in some markets where deposits and traffic, although erratic from week to week, seem to be dancing on the bottom or slightly above. Marketwatch

Housing bulls and bears alike might want to stay tuned as we prepare to grill Wayne Nef from Sniper Research over the investment merits of the these Battleground Stox.

Coming soon...

A) His lips are moving

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