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.
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. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.
