Closing Trade (DHI) – Tuesday, Oct 29th, 2019
DailyPlay Positions Outlook:
The Standard & Poor 500 (SPY) closed at a record high of $303.30 Monday. But DR Horton Inc. (DHI) and other home builders faded the broader market’s rally. Sharply rising housing prices are undermining recent and expected interest rate cuts that were expected to boost sales.That is hurting demand for Home Builders (ITB). OptionsPlay advises traders to cut losses when trade prices fall about 50%. Sticking to that discipline, we are taking losses on our long position in DHI and moving on to better opportunities.
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