I’m not a big fan of bottom picking, but the homebuilders sector caught my eye while running some bullish scans tonight.
BZH and PHM look to be establishing a bottom technically and with modest accumulation coming in from a volume standpoint, one may want to start nibbling on the long side if your timeframe is much longer than mine. While I remain bearish on the general markets, this sector will be one to watch from here on out to see how it handles any corrections.
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Post Written By: Zen Trader
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Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.