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EScroogeJr (< 20)

New bargains emerge

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March 13, 2007 – Comments (3)

Housing stocks are approaching my buy-in price; I used yesterday's downgrades to buy some PHM, HOV, and BZH. Other companies like DHI, MDC, and RYL are still above the buy-in price, but they are getting there. I hope to see my housing selections in CAPS underwater for the next couple of months so that I could find some good bargains for my real-money portfolio.

3 Comments – Post Your Own

#1) On March 13, 2007 at 7:43 PM, Greshm (97.32) wrote:

Good thing they're only for CAPS at this point.  They may not be falling knives but they're gonna need lots of refills in those SCUBA tanks to survive below.  They'll be down there for a long time...

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#2) On March 13, 2007 at 11:47 PM, EScroogeJr (< 20) wrote:

As far as I'm concerned, it's a win-win situation. If housing prices go up or stay constant, I'm buying a dollar for 50 cents. If they do down, I will save so much on the purchase of a house that losing a couple of thousand on these stocks will not be an issue.

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#3) On March 15, 2007 at 8:49 PM, ctmedic00 (94.84) wrote:

        Hey I only suggested a worst picks contest... did it happen and no one tell me about it?  Uncle Al, in his usually vague way, is saying that the housing market isn't in the basement yet. 
        Seriously though I think your idea is great because PHM, DHI and TOL to name a few are going up eventually.  They have sound businesses, make money and show long term value.  I just think that this is going to be a painful strategy for quite a few months to come.  Good luck with the home purchase I am betting that you will be in for a nice savings.
-Chris 

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