Homebuilders showing continued strength this morning

Wednesday, January 23, 2008

Homebuilders showing continued strength this morning

The beaten down homebuilder group is seeing a second day of gains today, representing a large number of this morning's biggest percentage gainers. Although the group is trading just off multi-year lows, many of the individual stocks still have high short-interest, which could add momentum to any upside move. The XHB (Homebuilder ETF) is up 4%, with the individual names seeing significant strength include the following: MHO +12.0%, HOV +9.5%, BHS +9.1%, CTX +8.6%, PHM +8.0%, TOL +7.9%, KBH +7.3%, DHI +7.1%, LEN +6.5%, AVTR +5.6% RYL +4.5%, MDC +3.8%.