Fast Money's Housing Bottom Trades
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Created by barrons3
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Date updated:07-29-2009

New data hinted that the housing market may be stabilizing. A report shows that that sales of new single-family homes in the United States rose more than expected in June, while the inventory of homes for sale fell to a more than 11-year low. What’s the trade?

symbol name last price % change open
  • +
  • CTX
    Ctx
  • $0.00
  • N/A
  • $N/A

Karen Finerman said Centex(CTX) is a homebuilder with a strong balance sheet and will be in a good position to take advantage of the situation when housing bottoms.

People owning CTX also tend to own: CFCGFICSGLSTRMOTTRFWU

TheStreet.com Rating: No Rating What is this?

  • +
  • CX
    Cemex Sab De Cv A
  • $11.15
  • -1.68%
  • $11.34

If you think housing is going to rally I’d be a buy of cement makers such as Cemex (CX), says Tim Seymour. But I would not jump into housing stocks.

People owning CX also tend to own: BVNCHTDALRQ.PKECPGMSFTMSMPALM

TheStreet.com Rating: D+ What is this?

  • +
  • AXP
    Amer Express Inc
  • $41.44
  • -0.46%
  • $41.57

I’d play it with American Express (AXP), adds Joe Terranova. The inventory numbers tell me there’s stabilization and that’s good for consumers.

People owning AXP also tend to own: AIGALLBACBRK-BCCOFFNM

TheStreet.com Rating: C What is this?

  • +
  • FCX
    Freeport Mcmoran
  • $85.59
  • +0.30%
  • $85.48

It’s way too early for that kind of trade, counters Pete Najarian. If you want to trade the news do it with Freeport McMoran (FCX) or other commodities names that provide materials, such as copper, used to build houses.

People owning FCX also tend to own: ACIAINVANRAPCBBDBTUCHK

TheStreet.com Rating: D What is this?

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