LENPotential Descending Wedge - NOT confirmed. May just be a bounce off the 100wma. Price you easily traverse back down to get closer to Broadening Formation Target before playing out the wedge formationby KLang1
DOUBLE-TOP for LENNAR (LEN)It looks like it is time to clean the decks on this stock and test the longs with a good old fashioned sell off. This latest overall market strength didn't include the home builders and therefore is a crack in the bull market, or at least just a rotation out of the leaders as folks re-balance their portfolios at quarter end and lighten up on some of the big winners. It's time to put these on your short-candidate list and short them. The regression channel has been violated and retested and has fallen back out of it again. 41-42 is very heavy resistance so my stop would be just above that zone. A break UNDER $34 is a good target. $39.73 last. Technical Tim 4:01PM EST Tuesday April 9, 2013 Shortby timwest11112
LEN - Lennar HOMEBUILDERS TOPPINGThe rally appears to be over on the long term and the short term for LEN and other home-builders. There is a good trade setting up here to go short LEN and look for downside in the neighborhood of 10% over the next quarter. The risk is a rally of 10%, so unfortunately the risk is equal to the reward but I believe the odds of the decline are greater, far-greater than the odds for a rally. Note the distribution pattern just above current levels. This is long term sellers unloading shares and that is an indication of a change in trend. $38.88 last. Target under $34 Risk to the highs $43 Tim 12:27PM EST, Thursday Feb 28, 2013Shortby timwest113