Wednesday, June 4, 2008

The S&P Homebuilders Spyder (XHB) has...

...bounced back from its January low. The stock has recently moved above its 100- and 200-day moving averages. I find this to be encouraging for a long-term investment.

I am normally a short-term trader, but I know a long-term opportunity when I see it. The XHB is a great one. I would look to buy shares up to the $23.50 level and hold them for a year or more.

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