short squeeze has been unbelievable,going to short more at 840 because their should be resistance their. no guidance from phm and pulte shows much uncertainty on their part, also if i were long and i wish i were i would be inclined to sell. last year when it peaked at 840 i rode it down a few hundred points and covered to early because it went much lower. only time will tell as in the past i have hit home runs with this stock but right now i am taking a beating.
This 845 are has offered enough previous resistance that it should bring a retest, but I think the real top is back at the old high.
The company will burn all cash and pile up debt to support the stock, of that there is no doubt.
So, the decline will happen when they can no longer keep feeding their mgt options machine.
Till then, expect the highest possible highs, and be happy to get it.
We get the kind of spike up in the markets that I've described for some time now, due to the dollar, and it will be enough to cause most shorts to cover, so who is to say what 'too high' is until that is done?