Tuesday, March 15, 2011

Homebuilders Up (PHM) (LEN) (TOL) (Hov) (DHI) Up on Dismal Trading Day

In what appears to be investors searching for anything positive to sink their teeth into, shares of homebuilders Pulte (NYSE:PHM), Lennar (NYSE:LEN), Toll Brothers (NYSE:TOL), Hovnanian (NYSE:Hov) and D.R. Horton (NYSE:DHI) are trading up.

The only other positive sector on the day is solar, which is trading up on the nuclear play.

Apparently investors are looking at the hope there will be a decent selling season this spring, the evident reason for pushing up the homebuilder sector. It's doubtful this will be sustainable, but interesting nonetheless.

D.R. Horton was trading at $11.80, gaining $0.15, or 1.29 percent, as of 1:06 PM EDT. Hovnanian was at $3.72, up $0.04, or 1.09 percent. PulteGroup was trading at $6.94, up $0.02, or 0.29 percent. Toll Brothers were at $20.71, gaining $0.07, or 0.34 percent. Lennar was at $19.47, up $0.14, or 0.72 percent.

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