It's what we don't know. Insiders just exercised options and did not sell, added to positions. I am holding. Another catalyst is coming, just don't know when or what.
Bought a bunch of June 7 calls @ .15 today. Not touching long stock position. Looking to make some quick cash!
Almost looks like they want to bring it down to 5.50 A ton May 5.50 calls they would love to see worthless.
One explanation for low starts #. Homebuilders having a hard time finding experienced workers.
This guy made billions on the housing collapse. Now buying for recovery. I would think he is in these for the long haul, not flipping.
Who knows, maybe they are considering picking up a competitor. 160mm additional shares worth over 2B dollars. Genworth MI unit possibly. Now profitable.
Way I see it. Someone got a heads up on that increase in authorized share announcement and was able to create temporary panic selling and shorting. It's not bad news though. Uptrend will continue. We needed a little pull back anyway. Housing data continues to be strong. Keep your winners, sell your losers.
Someone knew this was coming out. Of course the first reaction is to sell or short as we saw with MTG but it's not bad news. Will resume upward move soon.