July 5, 2012 Comments

Even with some news of stimulus and rate cuts from Europe and China, markets were down somewhat today. Well, that was to be expected after the recent strong gains.

Toll Brothers managed a gain of 2.3% today to $30.25. This stock got as low as $24 only three weeks ago (and I added to my position at that time). It’s been a nice run. It does look expensive but I think the U.S. housing market is in slow recovery mode. I consider it speculative because the earnings still have to increase a lot to justify the share price.

Tomorrow’s market will apparently hinge on the jobs repot to be released tomorrow morning. And then next week we will be starting to get into the Q2 earnings season.