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BMHC None

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Bldg Materials - BMHC - close: 38.29 chg: +0.31 stop: 34.99

Company Description:
BMHC, a Fortune 1000 company, is one of the largest providers of residential construction services and building materials in the United States. We serve the homebuilding industry through two subsidiaries: BMC Construction provides construction services to high-volume production homebuilders in key growth markets across the country; BMC West distributes building materials and manufactures building components for professional builders and contractors in the western and southern states. (source: company press release or website)

Why We Like It:
The homebuilders aren't the only ones rebounding. BMHC, a home improvement retailer, is on the mend. Shares have broken out above significant resistance and its P&F chart has produced a buy signal that points to a $51 target. We see today's bounce from the $37.00 level as a new entry point to go long the stock. More conservative traders may want to wait for a move over the 200-dma (near 39.21) or the $40.00 level. Our target is the $44.00-45.00 range but we'll exit early on April 24th to avoid holding over the earnings report.

Picked on April 06 at $38.29
Change since picked: + 0.00
Earnings Date 04/25/06 (unconfirmed)
Average Daily Volume: 869 thousand
 

New Short Plays

None today.
 

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