Pending Home Sales Collapse
Subscriber Update Jan21 2026
As always Magnelibra Readers, lets begin with our positive daily affirmation:
“If you can create it in your mind and you can believe it in your heart, then you can achieve it!”
We honestly believe in the power of positive affirmation, in the power of positive attitudes and their quest for optimal outcomes. When you think about it, the alternative offers very little and this is why we need to strive to become the best version of ourselves.
We saw Kevin Gordon post this pending home sales data chart and you can see how the post covid overhang continues to plague the housing market. A combination of abundant supply, higher mortgage rates and abysmal affordability are the driving forces behind these abysmal numbers. We do not see this getting better anytime soon, in fact, we believe it will get much worse and force pricing pressures to finally submit to this new reality. We believe all that “equity” homeowners believe they are sitting on are going to be discounted down in the coming years:
We don’t want to put too much merit to today’s equity rebound, but we do want to focus upon tomorrow post close earning from Intuitive Surgical. This is one of our favorites to watch:
When we look at the options straddle for ISRG and Friday’s expiration they are looking for a 4.96% move with the $522.50 strike straddle pricing at around $26.00. This stock does move and owning the straddle does generally provide a decent risk reward setup. We also would prefer more risk taking types to own puts or more specifically take a look at buying the 510/490 put spread for a total cost of $4.50 as shown in our data below. This comes with a breakeven price or move toward the $505.50 area:
So keep an eye out on this one tomorrow. We also want to keep an eye out for the slew of economic data we have out in the morning, specifically the PCE YoY and Core PCE:
As traders and investors we always need to know what is coming out, what is expected and formulate a plan of attack so that we can adjust our positioning and react accordingly. Remember the markets are irrational and we have to do our best to tame this chaos and the best way to do that is through preparation. So good luck tomorrow, we now move onto the subscriber only section.
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