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Weekly Sector Update – ITB ($)

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It seems we are getting better results week by week, inch by inch. The model has a higher positive strength this week, along with a nearly doubled median strength.

Our featured sector is the iShares Dow Jones Home Construction Index, ITB.  We have noted that some hot sectors were in the penalty box, and have eagerly awaited some interesting new choices.  ITB has finally been released from the penalty box and the strength has risen to a feverish 105. We don’t trade the expanded list, but if we did – this would be a hot buy!

Felix still likes biotech, which we featured last week. ( IBB, here.)

Investor Take

The home construction group has had a big run, making it less attractive to value-oriented investors.  ITB has a P/E 23 of and a yield of 0.50%.  Not cheap.

The popular home building stocks are all here.  The top five make up 43% of the ETF, so concentration is pretty high.  Here are the top ten holdings:

Top 10 Holdings (63.13% of Total Assets)
Company Symbol % Assets
PulteGroup, Inc. Common Stock PHM 9.78
Lennar Corporation Class A Comm LEN 9.74
D.R. Horton, Inc. Common Stock DHI 9.71
NVR, Inc. Common Stock NVR 7.75
Toll Brothers Inc. Common Stock TOL 7.75
Home Depot, Inc. (The) Common S HD 4.43
Ryland Group, Inc. (The) Common RYL 3.64
Lowe’s Companies, Inc. Common S LOW 3.59
KB Home Common Stock KBH 3.53
Meritage Homes Corporation Comm MTH 3.21

Trader Take

For traders, the story is much more interesting.  The chart is as pretty as Felix likes them:

ITB

Model Output

As we stated earlier, we have great news as far as strengths, now all we have to do is wait for Felix to start plucking them out of the penalty box (hopefully at a quicker rate than the last month!)

TCA-ETF Felix EXPANDED MAY 08, 2013

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Jeff Miller
Jeffrey Miller is president and CEO of NewArc Investments, a registered investment adviser, and Capital Markets Research. He also serves on the board of directors for Helix BioMedix and Think-A-Move. Miller has been director of research for KTZ Trading, and taught political science and public affairs for the University of Wisconsin and Lawrence University. Miller is the author of numerous articles and papers on taxation, policymaking and the equities market. He holds a bachelor’s degree from Bowling Green State University and master’s and doctorate degrees from the University of Michigan.
Jeff Miller
Jeff Miller

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