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6 pts

Opinion on  SPDR Homebuilders ETF (XHB)     Sector: Financial  >  Industry: Misc. Financial Services
Housing Hints

Apr 08, 2008 01:43 PM GMT
Astukphoto
Return Risk
-19.02% MID
Sr. Associate

Analyst Recommendation  

Powered by Minyanville: Housing Hints

April 8, 2008- According to Bloomberg, contracts to buy previously owned homes likely declined in February. The National Association of Realtor's index of signed purchase agreements, also called pending home sales, is expected to fall 1% according to median forecasts. Among the reasons for the decline, lower property values and tighter lending standards are causing many buyers to delay purchases. These figures are considered leading indicators because they track the contract signings as opposed to purchase data, due later this month, which reflect closings that typically occur between one and two months later.

From the Bull Pen

Should the index come in above expectations, bulls can play the upside with the homebuilders ETF ( XHB ); near-term sell-stops can be set below the 200-DMA ($22.52).

As per market Edge it looks like this:

Moving Average Convergence/Divergence (MACD) indicates a Bullish Trend.
Chart pattern indicates a Weak Upward Trend.
Relative Strength is Bullish.
Up/Down volume pattern indicates that the stock is under Accumulation.
The 50 day Moving Average is rising which is Bullish.
The 200 day Moving Average is falling which is Bearish.
Look for Support at 23.31

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XHB:  This call was made on 04/08/08 @ $23.53
Rating:   Positive   $23.53 (04/08/08)
Gain/Loss:   -38.84% in 606 days
Target:   $33.00 (+40.25%) in > one year


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