De Nile,this puppy(PHM) is in down a trend channel with an 11.45 confluence top,formed last week,kiss 15/16 confluence top goodbye.@11/12 now,this is the next leg down.
PHM's floating rate credit lines have all been ratched down,with notice not to draw,in effect leaving them the only option open is to issue stock for cash.Which means you stock will diluted downward if they need cash. Examples LEH,C,BSC ect... Prepare wisely.