It’s hard to get over how well the homebuilder stocks have been performing lately.  As shown in the charts below of stocks in the S&P 1500 Homebuilder group, these names are nearly universally in steep six-month uptrends and breaking out as we type.

Below is another way to see just how crazy the run has been for the S&P 1500 Homebuilder stocks lately.  Most names are now up 30-40% year-to-date after rallying 5-10% over the last week.  This has pushed them ~10% above their 50-DMAs, and many are trading more than two (or even three for some) standard deviations above their 50-DMAs in extreme overbought territory.

“Mr. Market” has either lost its mind or it’s predicting that all the current worries about housing in the months and quarters ahead are misguided.

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