Upper Channel on Aggresive Valuation.

Most aggressive pt have recently been boosted to 130 on the possibility of a consolidation with Trulia. But most conservative pt around 110-115 state the already embedded high valuation in Zillow given projected growth. New-home sales surged in May, but the gains only put the market back on track to match last year's pace along with many investors speculating about mortgage rate hikes. I don't see the logic in investing at these all time highs and I don't believe many growth investors do either. I think it's currently being pushed up by bull swing traders who are enjoying the short squeeze. Forming a bearish rising wedge at the top of this multi-year channel I do believe anything above 135 is a good short with a stop of 140.


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