This morning, the leading agriculture stocks are coming under some early selling pressure. This important sector has been very range bound over the past three months. Potash Corp./Saskatchewan (USA (NYSE:POT) is considered one the best stocks in the sector. Today, the stock is declining lower 0.53 cents to to 45.94 a share.
This morning, the leading agriculture stocks are all trading higher to start the day. The Market Vectors Agribusiness ETF (NYSEARCA:MOO) is trading higher by 0.46 cents to $53.34 a share. The MOO is trading above all of the major daily chart moving averages which puts the stock in a strong technical position. Traders must recognize that the MOO is now getting a little extended and overbought.
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This morning, most of the leading agriculture stocks are coming under early selling pressure. This industry group is trading into heavy resistance on the daily charts. The Market Vectors Agribusiness ETF (NYSEARCA:MOO) is a good way to track the agriculture sector. Today, the MOO is trading lower by 0.39 cents to $48.66 a share.
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NVR Inc. (NYSE:NVR), one of the nation's largest homebuilding and mortgage banking companies, announced the Grand Opening of a new fully decorated model home, The Strauss, at their Fairwood Crossing luxury townhome community in Burtonsville, MD . Built by NVR's Ryan Homes division, these new 2-car garage townhomes are priced from the upper $330 's.
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As we all know, the major stock indexes have been under heavy institutional distribution for several months now. While all of the U.S. Dollar sensitive sectors have been hit very hard the agriculture stocks have lead the declines with copper. The Market Vectors Agribusiness ETF (NYSE:MOO) has declined sharply from its July 2011 high of $56.00.