Howdy folks, You all have seen the monster performance and a breakout from KBH and LEN which broker through its 3 year high. I just wanted to get your opinion on this group. I am considering a small buy and hold position in LEN, given all the positive economic and housing and earnings data coming its way. Do you think this brake out is for real or just a short covering rally combined with unfounded optimism?
For whatever it may be worth, I recently took on a small Long position in LEN (via a Bull Put Vertical Option Spread) at 22.05, betting it will make 23.00 or higher by 8/17/12. All the News says the property market is terrible, but LEN looks like it's been in a solid 3 year uptrend to me. Good Trading!