Is it time for the shareholders of CWD to finally realise the state of the uK housing market/ As a potenmtial (house) buyer I have seen massive discounts, particularly further down south, and the northern areas that may still be keeing the prices up will eventually follow. Property is slow to move and this is not getting any better so can only have a detrimental effect on the the profits of estate agents, who are on a small profit margin as it is. Not to say the financial gearing after all the boom time buys.

Only one way and that is IMHO downwards

Closed the short this morning after the drop, couldn't resist taking the money. Look for a short term rise but still believe a long term fall as house values plummet and transactions will be minimal. I have a relation who has just been given a mortgage at 5.5 times income - can only spell disaster. Negative equity here we come.

Stop tested but still short. If the rolling over helps make a completed h&s pattern since Dec 04 then I see the downside target nearer 240p

Woof woof :-)

Still in here, waiting for another plummet in the sp. IC posted a lovely article to sell, the stock has already dropped about 1 but a lot further to go. Now the Blair entourage are still in we will not have long to wait for interest rate rises and / or tax rises. Despite Halifax putting out a statement saying how positive the housing market is and that prices have steadied out ??? well they would say that wouldn't they, repeating the same drivvle since last summer.

They're due a short term bounce if I read the chart correctly. Then again all support has been broken and with the price trickling down the support line of the trend channel it could even break down sharper.

On the other hand I don't trust the Yanks to know what they are getting into, (Southeastern Asset Management). There's always some daft fund manager investing at the wrong time and sending ridiculous signals into the market. I don't doubt that under the circumstances they have been able to pick up substantial blocks of shares at a discount.

I am neither increasing or decreasing position until the next move becomes clear. Moved stop down to 280