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%.

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