All summer long we have been looking at the relative strength in the homebuilders, or homies. Since this post, the bears pressing for a rollover has gotten squeezed further. I remain long DHI inside 12631, without much sign of the homies slowing down yet along topping out. As you can see on the XHB sector ETF daily chart below, another breakout from a high and tight bull flag is a now a distinct possibility.Buy volume is running strong as well.
The facts sure can be stubborn things.
4 Responses to House Party All Summer Long
They didn’t even seem to wince when Fannie announced they were tightening up their loan requirements. Strong indeud.
LEN and RYL have some serious short interest.
Their charts do not look favorable to short positions.
I’ll take the fannie on the left….