Haven't really paid much attention to the upgrades/downgrades (honestly haven't noticed much in the way of upgrades in recent memory)....just looking at a softening RE market and dramatically higher CPI.
It's only a matter of time before housing takes some very serious lumps and I don't want to be long GFA when that happens, even if they are doing some tightening now. Good for them and a smart move but they're still going to get clobbered, IMO.
With all due respect, not sure I buy the delayed response to earnings. I think it was more related to a directed effort that timed with the more dovish comments on rate increases, particularly where they pertain to housing. But the overall move was manipulation - plain and simple. On that we agree....
You'll notice the volume spiked up as GFA rolled over and went red....selling pressures. They want it lower and I think they'll have it.
GFA is now a fully controlled stock, i.e. investment banks play it like a fiddle. I've been studying patterns in this stock and can identify the telltale signs of obvious MM manipulation. Not to mention the volume has been fairly impressive as of late. It's definitely a play on the long side now. I'm out completely having done quite well short but will consider going long this right at the open as I think it goes up .50 today...GL
Do yourself a favor and have a look at ABV...she's screaming higher now. I'm about to ring the register on this one. I'm taking a little bigger gamble on beat down GGB. Think it could squeak back to $13 (the fiddy) where it will lay an egg.