Construction has 58 stocks or 36.5% of the 159 stocks in this sector rated strong sell or sell, the sector gets an underweight rating.
One of my themes for 2013 was that The Housing Recovery will remain sluggish in 2013. The National Association of Home Builders Housing Market Index may be above the neutral 50 reading with a current reading at 52 in June, but since this report was released on June 17, the 30-year mortgage rate rose 53 basis points to 4.46%. This could put the brakes on the housing recovery.
Most on Wall Street say that the housing market has turned the corner. My concern is that this corner is on a dead end street.
On June 21 I wrote,
Homebuilders Hurt by Fed Policy and the
PHLX Housing Sector Index
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