There are four housing reports this week, and a fed meeting too. The home building rebound is just getting started. PHM is forming the right side of a base as it rebounds from making a double bottom low. PHM is a strong buy right now as the housing data this week will provide more evidence that the housing market is continuing to build momentum.
Occasionally you tech analysis guys come in here and predict moves in this stock. What do you see the upside over the next week? A more important number for Pulte are Lennar's earnings this week. Need to be blow away to keep momentum going ...
You are right, one needs to read the data, not the charts. Builder's sentiment numbers were not great today, but you need to understand where these numbers are coming from. Any builder that relies on bank financing and building lots that are developed by others, find the building business to be a struggle. Whereas the large public builders that have cash and building lots, business is good.
It is tough to be a small to medium sized builder. Banks won't lend money and there supply of good lots are nonexistent.
Look for good earnings from the public builders. Because of the time of the year and the weather, I would not expect blow away numbers.