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Lennar Corp. Message Board

  • davenport47 davenport47 Jun 21, 2005 12:33 PM Flag

    Retracement Likely

    LEN is trading on double normal volume. This could be the sign of at least an intermediate top. The earnings news was expected after KBH reported last Friday, and LEN went up also, so there's nothing to drive this thing higher at the moment. It's likely to retrace some of its recent gains while people wait for other economic news.

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    • Agree, except that we are much further along in the cycle. The word "bubble" is always mentioned when talking Housing, and one has to think that the investment community is just waiting for the other shoe to drop. All of this is evidenced in the most recent activities of the HGX. All this good news but it seems this is all that can be extracted out. Maybe the Friday Housing starts number will help out. But if there is the slightest doubt, then we are in for lower pricing in the HB's.

      235

    • "The earnings news was expected after KBH reported last Friday, and LEN went up also, so there's nothing to drive this thing higher at the moment"

      That's not true. How much did KBH go up the day when it announced its earning? and how much did LEN go up the same day?!!!! KBH moved up 8%, but LEN only 2% that day.

      Now LENS gave a stellar earning as KBH, it deserves a 5-8% run today.

      Just wait a little bit, game is not over yet. $65 today at closing. A good chance for $66 today.

      • 2 Replies to huikh2r
      • Consider also that KBH's earnings were up 78% while LEN's were up 21%.

      • What LEN "deserves" is one thing, what it gets is another, I'm afraid. LEN is technically one of the weakest of the homebuilding stocks. (That's why I'm short LEN and not some other HB stock.) Maybe someone can explain why. Maybe it has something to do with the purchase of that (potentially polluted?) abandoned air force base. Who knows? It's true that LEN didn't go up as far as KBH on a percentage basis last Friday. It is also true that whatever you may think it "deserves," it is only up 1.8% today (so far), not 5-8% as you would wish. My guess is that it will end up even lower than it is currently. I base this upon the "churning" action indicated in such high volume.

    • Agree...

 
LEN
43.08-0.27(-0.62%)Oct 31 4:05 PMEDT

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