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90 Seconds with Art Cashin: Concern For Greece is Great

CNBC's Bob Pisani and Art Cashin, of UBS, discuss whether there will be much progress in a debt solution for Greece and whether the country will default, exit the euro zone, or both.

90 Seconds with Art Cashin: Greek Deal Not Affecting Markets Yet

09 Feb 2012

CNBC's Bob Pisani and Art Cashin, of UBS, discuss the markets' lack of response to the Greek deal. Cashin asks what will happen when the election comes around in April, as Greeks are already crying about austerity.

90 Seconds with Art Cashin: Can Draghi Help Greece? 08 Feb 2012
CNBC's Bob Pisani and Art Cashin, of UBS, discuss the market drop and concerns the ECB's Draghi may not be able to help Greece.

90 Seconds with Art Cashin: Bernanke's Sigh of Relief Rally

07 Feb 2012

CNBC's Bob Pisani and Art Cashin, of UBS, discuss a down dollar, the up euro and the reasons behind the mini rally. People are realizing Greece doesn't have a payment due till March, and after Bernanke's testimony, there was a sigh of relief rally.

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Housing Stocks Get Hammered

Published: Wednesday, 2 Sep 2009 | 11:26 AM ET

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By: Bob Pisani
Reporter

Housing stocks are again the downside leader today, what's up? This has been a tough week for homebuilding and building material stocks. In less than two days, some big names are down double digits.

Home builders this week:

Standard Pacific down 23% [SPF Loading... ()

]

Hovnanian down 16% [HOV Loading... ()

]

Masco down 10% [MAS Loading... ()

]

Lennar down 10% [LEN Loading... ()

]

Ryland down 10% [RYL Loading... ()

]

On the surface, the decline may not seem logical. The housing market seems to be stabilizing, with sales improving and inventory levels declining.

The problem is that housing stocks have had huge runups since the summer rally began in July--many were up 50 percent or more.

But analysts are suspicious of that runup. This morning UBS downgraded DR Horton [DHI Loading... () ] and Ryland [RYL Loading... () ] on valuation, saying "Given our expectation for a more gradual recovery, we believe current valuations are well ahead of fundamentals."

Many traders also believe that there could be another downleg later this year, as the sales improvement taper off and inventories remain stubbornly high.

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