Housing!

Housing numbers came out today, and it wasn't pretty! Existing home sales dropped 27% in July. Inventory climbed to high levels, and investors headed for the exits. The effect on Wall Street was immediate. All indexes fell more than 1%. Homebuilder stocks climbed in the middle of the bad news. Go figure! Is this the bottom? DJIA -133.73 NASDAQ -35.87 S&P 500 -15.49