liquidated my WY position. took an 11% loss. shoulda known, that idiot Cramer promoted WY and had the CEO on his show a few weeks ago. that should have been my first clue. good luck to you all. i gotta go find a good place for the 89% remnants. lol.
It's not just Cramer and WY. Almost all of the housing related stocks have taken a beating since Bernanke threw some water on the market to cool things off. A few more quarters of good earnings from WY and it should come back above $32 again. If Ben threw too much water and the economy/housing stumbles, then we have bigger problems to worry about.
Most of my shares were bought at less than $18 bucks so I'll wait it out. Those that came late ( $28) have some decisions to make.
I'm still up 15% and can't imagine this dropping below $25. $32 seemed a little toppy, but I believe we'll have a lumber shortage soon. The low prices, disaster relief rebuilding, and housing shortage will likely cause WY to gap up one day...hopefully one day soon. I'll be adding to my position when I see something bullish in the technicals.
Since you were down 11% and the stock has looked sick over the last few weeks, I think you made the right choice.
max, thanks for your input. i too see housing and lumber demand on the upswing but simply not seeing that make its way into WY PPS. today was a bad day in the markets. unless i see a great opportunity, perhaps i will keep a cash position and buy back in a bit. trades on cost $9.