Housing / $RKT Earnings Next Week
$RKT
Wrote about RKT 0.00%↑ in August -
Here’s an updated chart from that August piece -
The AVWAP broke as was the hope when outlining the idea. But it was short lived and we can see the fade that’s occurred since. I’ve posted recently about some short opportunities within housing. Those have worked in short term frames, but the home construction etf has been creeping up since the start of the month -
Z 0.00%↑ earnings came out this week, and the price action was very strong -
This was interesting to me, and part of the reason I’m intrigued by the RKT 0.00%↑ report next week. The 30 year mortgage is still hovering around 7%, a driver of the slow down in home sales for sure. But perhaps the housing related stocks are beginning to price in a forthcoming decline in that rate as we enter 2025. If so, RKT 0.00%↑ could experience a similar catch-up next week.