Monday, March 12, 2007

Home Building Stocks



There was one group of stocks that showed relative weakness today when compared to the rest of the market and that was the home building stocks.

Last month around February 20th when the S&P was breaking to new highs, the home building stocks were diverging and showing relative weakness. These stocks did not break high with the market. Over the past few days we are seeing this display of relative weakness take place again right now. The market has been moving up the past several trading sessions but the home building stocks are actually heading down and making new lows.

Some of the weak stocks in this group today were: HOV which was down close to 6%, DHI down a little over 5%, BZH down 4.92% and LEN down 4.87%.

No comments:

DISCLAIMER

This site may include market analysis. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Trading and investing involves high levels of risk. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
 
Google
Technorati Profile Finance Blogs - Blog Top Sites