Core Insights - The 2025/2026 seasonal trade for homebuilder stocks commenced with the iShares U.S. Home Construction ETF (ITB) in a bear market, indicating trades began at significant discounts [1] Group 1: Market Context - The current market environment reflects a bear market for homebuilder stocks, which may present unique trading opportunities [1] Group 2: Analyst Background - Dr. Duru, who has been blogging about financial markets since 2000, has extensive experience through various market cycles, including the dot-com bubble, financial crisis, and the coronavirus pandemic [1] - The blog "One-Twenty Two" offers alternative narratives and challenges conventional market wisdom, focusing on stocks, options, currencies, and Bitcoin [1] - Dr. Duru holds a B.S. in Mechanical Engineering and a Ph.D. in Engineering-Economic Systems, with a background in operations research, management consulting, and data analytics [1]