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  1. 22-05-2008, 11:46 PM #1
    AMR
    AMR is offline
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    Join Date
    Jul 2007
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    Default Homebuilders on the mend?

    Probably not, but they are showing signs of bottoming out. This is a chart of PHM, a US-listed homebuilder.


    Note the rise on OBV (signalling accumulation) and the development of a basing formation.

    I'm quite intrigued by this stock since it seems to be a good trading candidate. It was up 100% in around 3 weeks from it's bottom in Jan. Not quite an LMP, but far out, what a counter-trend rally!
    Last edited by AMR; 23-05-2008 at 12:31 PM. Reason: Where the hell did that chart go?
    Disclaimer: Do not take my posts seriously. They are only opinions.

    AMR has sold all shares and is pursuing property.
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