Wednesday's solid housing starts data saw the highest print in five years and showed 23% growth. TheStreet's Stocks Under $10 Porfolio Manager David Peltier thinks this will bring home builder stocks back into play in 2014. He is playing the housing group by investing in Standard Pacific Corp, which has pricing power and exposure to Californian housing market. Peltier also likes Builders FirstSource as a building supplies play.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.