Quit wallowing in the underbelly of Wall Street, portfolios teeming with vagrant penny stocks–such as PAMT.
Today is a bounce day, is it not?
Well you need to examine what is working on a strong day because it is a tell on where Wall Street is placing their bets, the “go to” sectors.
Residential construction is up more than 3% as an industry today, making it the best performing industry of the day. Overall market breadth stands at just 65%, so this is a big move in a rather narrow bounce.
Inside of The PPT, I have a housing index compiled, listing all of the companies that are publicly traded who contribute to this great renaissance of American industry.
The overall trend is higher. Unlike silver miners, who trade lower on a day the base metal is +1.25%, housing related stocks make their shareholders money.
Today’s outperformers are HOV, HVT, SPF, HD, KBH, PHM, MHO, LL and USG.