Novemebr 2008 Dow hit previous low of mid 7000 and MTH hit just under 7. Within months it had gone up almost 150% to around 14 or 15. Today my limit buy order at 10 that had been just sitting there for several weeks finally hit. Big whoop, 1000 shares,I'm a small timer for sure. However, I am betting that over the next 2-3 months we see 12-14 again and I'll sell, place a buy order for 10 and wait to do it again! Last time I got nervous and after buying 2000 at 10 sold at 10.80 and watched it go up to almost 14, I won't be quite so hasty this time. Good luck longs, we'll definitely need it this time.
In at 10 on 2/23 sold today at 11.35. I feel almost 100% certain we will see 10 or less again fairly soon and I'll flip it again. Very long term ( 1-2 years or more) i think Meritage is one of the better positioned builders, but short to medium term I just don't see how the home building market can fair well. The volatility of the market and this stock in particular is very good for slightly brave flip traders. Good luck longs.