short it after tuesday...I tried out the xhb for a quick long thru calls, but getting out today, and going double on the downside soon. but take a look at ITB's holdings vs. XHB they make more sense IMO for the downside play.
Congrats to the homebuilder longs. My only regret was not having $100 million BP to put on this trade. BTW pundits now asking themselves if homebuilders bottomed.
I had an old toll straddle which I held (only calls) into earnings. I closed 40 I am sitting on 20. Fully paid for. I am thinking of holding PHM stock. The break up value is double the stock price, I think its good. I would rather be early than late, I have gotten pretty good at this by now. Its all I do. and you guys wonder why theres no booze and girls left when you get to the party. Downtrend just snapped in half!!!
AND 20+ IT WAS............................ WHAT DOWN TREND???? IMAGINE IF THIS IS THE LAST TIME XHB SEES THE TEENS FOR YEARS.....I dont know, Im thinking this heads down once more, I would be a huge buyer of XHB in the mid teens. Who knows if its going to get there anytime soon, I don't think a bottom is in, but we shall soon see.