No idea to know where this will end up today .... but over the next few months I see 13 +. Street is confirming that this company is now shareholder friendly .... and they have plenty of land to sell to bolster growth in their favorite markets. Pulte also has scale to ramp up where employment and demand is growing.
There's going to be frustrated buyers because there's not enough houses; and that because builders weren't advanced the credit to break ground on new construction. This should bode well for any domestic bank that's willing to stick their neck out on new construction loans.
Anybody got any bank names or stock symbols? Post em here and on KBH board
It is not the shorts. I have 5 positions in PHM and have been trading in and out with one of my position. Well yesterday I sold it for $9.38 thinking I would pick it back up when it dropped into the close. As you know, that didn't happen.
Again my record stands, stocks I sell go up, stocks I buy go down.
On the good side, I still have 4 positions and when the stock flattens out, I will sell another one to push it higher.