This Backdoor Real Estate Play Will Collapse on Failing Volume Tomorrow

Trulia (TRLA – NYSE)

Tuesday, July 30, 2013

Today, we learned that home prices went up 12.2% last May.

But home builders are getting punished today regardless of whether they made quarterly estimates or not, because investors are far more worried about this summer’s rising mortgage rates and falling sales volume than last spring’s successes.

And, the builders are not the only companies that will get hurt by failing real estate volume…

Bottarelli Research Tip: Maybe a good real estate broker can translate higher prices into a decent living, but Trulia (TRLA – NYSE)’s free web and mobile real estate services are completely dependent on volume. TRLA’s price has been rising for weeks as rumors of strong past performance have squeezed out the short players. But now the stock is hitting resistance at the previous high at $38.22. We figure that traders will sell tomorrow after TRLA announces. $29.27 is our initial target.

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