I agree with this. WHC is unlikely to do much positive for the next several quarters. I am one of the fortunate ones who bought WHC as a turnaround candidate at 6 1/2 and sold at 8 3/4. I sold after the last quarterly earnings because of the continuing pressure on margins. It was a case of protecting gains and seeing more downside risk than upside potential. This warning will keep me out of the stock until it falls below book value or until margins improve.