May 11, 2010
– Comments (6) |
RELATED TICKERS: MPG.DL2
That makes sense.
P.S. HEAT is an "invalid ticker symbol" in the related tickers thingy.
Because the name change means their debt goes away right?
Maybe their debtors won't be able to find them in the phone book.
China is getting lost in the shuffle and everything seems to be getting deflated along with their housing.
I bought some HEAT a week or so ago...not quite ready to double down since I also own CSR which has taken a beating as well.
Anything related to real estate or housing is cruising today. It's a sector move based on perceived good news that median home prices increased in 60% of housing areas.
Nevermind that 36% of the sales were foreclosures and that these increases still put the sales below $100,000 in most of these areas. It's bad news packaged as good news. My CAPS score is getting crushed, but I maintain that the poorer retailers and homebuilders are going to go back where they belong in the near future.
It's a good thing I bought the Oct puts instead of the May ones.