Lennar Corp Class A (LEN)

[Renee]

Turnaround....I hope .

[Bart Myers]

J.P. Morgan is out with its report today on Lennar (NYSE: LEN), reiterating Overweight.

In a note to clients, J.P. Morgan writes, "Overall, we reiterate our Overweight rating on LEN amid our positive sector stance based on our view that the company's relative valuation premium to its peers should continue to expand based on its solidly positive EPS, above average margins and accretive Rialto division."


Source: http://www.benzinga.com/analyst-ratings/analyst-color/11/03/959708/j-p-morgan-reiterates-overweight-on-lennar-len#ixzz1Hzzl7q84

[Renee]

Lennar posts surprise 1st-quarter profit as the homebuilder controls costs

On Tuesday March 29, 2011, 7:14 am

MIAMI (AP) -- Lennar Corp. posted a surprise fiscal first-quarter profit as the homebuilder controlled costs and hedged against housing woes by purchasing troubled loans and properties from banks.

But the Miami company delivered fewer homes and reported a decline in new home orders.

Homebuilders are a bellwether for the housing market and the economy. Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes paid to local and federal authorities, by some estimates.

Lennar said Tuesday that it earned $27.4 million, or 14 cents per share, for the period ended Feb. 28. That compares with a loss of $6.5 million, or 4 cents per share, a year ago.

Analysts surveyed by FactSet expected a loss of 5 cents per share.

Lennar said its performance marked its fourth straight quarter of profitability. The company cut costs and expenses for its homebuilding division to $447.8 million from $502 million during the period. Its selling, general and administrative expenses fell 7 percent.

Homebuilders are hoping to see improved sales this spring after a dismal 2010 that marked the fifth consecutive year that new home sales declined. Lennar President and CEO Stuart Miller remains cautious on the spring, but is upbeat about the company's prospects for the year.

"While it is unclear whether the spring selling season will gain momentum or continue its sluggish recovery, we are confident that our company is well positioned for a profitable year in 2011," he said in a statement.

Lennar's quarterly revenue dropped 3 percent to $558 million from $574.4 million, but topped Wall Street's $514.6 million.

The average sales price of homes delivered fell 7 percent, while the number of home deliveries dropped 4 percent, excluding unconsolidated entities, to 1,903 homes from 1,988 homes in the prior-year period.

Lennar trimmed sales incentives to $33,100 per home delivered in the first quarter compared with $37,100 per home delivered a year earlier. Reducing incentives has helped Lennar to drive up gross margins and increase its bottom line.

The company's Rialto unit, which buys troubled loans and properties from banks, posted a $23 million operating profit compared with a loss of $1 million a year earlier.

[Renee]

LEN : Barry Minkow Will Plead Guilty to Federal Charges of Insider Trading over Scam Against Lennar Corp.

By LA Weekly
published: Tue., Mar. 15 2011 @ 7:20PM
By Beth Barrett
http://blogs.laweekly.com/informer/2011/03/barry_minkow_charged_with_insi.php

?Federal prosecutors have struck an agreement with Barry Minkow to plead guilty to criminal insider trading for actions that damaged the stock price of one of the nation's largest home building companies two years ago, sources familiar with the case told the Weekly.

Minkow, the supposedly reformed Los Angeles con man, intends to plead guilty, according to a statement issued by his San Diego-area church. Neither Minkow nor his attorney have returned calls the Weekly placed to them just after 6 p.m.

The one-time business whiz kid served seven years in prison after his conviction in the mid 1980s of running a Ponzi scheme that defrauded investors in his ZZZZ Best carpet cleaning company of as much as $100 million.

After his release from prison, Minkow announced that he had undergone a religious conversion. He became senior pastor of the Community Bible Church in Mira Mesa and began working as a fraud buster, aiding the FBI and other organizations.

In recent years, however, Minkow began issuing reports critical of major American companies, including Lennar Corp., the home building giant.

In most if not all cases, Minkow would take a "short' position on a company's stock before issuing his report. His reports usually sent stock prices lower, which meant Minkow profited by short selling the stock.

But Lennar proved to be a formidable adversary. After Minkow issued a report laced with unsubstantiated allegations against the company and its executives, Lennar filed libel and extortion lawsuit against Minkow in Miami. Minkow's report had sent Lennar's stock price tumbling $500 million in two days--the equivalent of 20 percent of its value.,

Lennar sought to use the lawsuit to force Minkow to verify his allegations. But Florida State Court Judge Gill Freeman threw out the case, finding that Minkow gave false testimony, withheld documents, destroyed evidence, concealed the identity of key witnesses, willfully violated court orders and tried to "cloud his misconduct."

Freeman ordered Minkow to pay sanctions, estimated to run into the millions of dollars.

Until Tuesday, however, the public knew nothing about a pending criminal case against Minkow. His church disclosed it in a letter to parishioners.

The letter, signed by church elders, said:

"Today Barry resigned as our senior pastor as he is no longer qualified to be a pastor. Pastor Barry no longer considers himself above reproach as he has agreed to plead guilty to a criminal count related to the Lennar lawsuit."

The letter asked parishioners to pray for Minkow and his wife and sons.

The federal case against Minkow stems from a report he wrote about Lennar on behalf of Nicholas Marsh, a former business partner of Lennar's who had a falling out and was suing the company--an effort that was ultimately unsuccessful. As Marsh continued to press his litigation in late 2008, he hired Minkow to look into Lennar. Minkow responded by recommending "an all out blitzkrieg" against the company.

Minkow wrote that a cascade of bad publicity could force Lennar to settle the lawsuit brought by Marsh. Minkow issued his scathing report against Lennar in January 2009.

The letter from Minkow's church elders Tuesday made no mention of a burglary at the church earlier this year in which Minkow claimed thieves stole $50,000. The burglary remains unsolved.

The break-in is quite similar to phony burglaries Minkow has said he staged in the 1980s to collect insurance money when he was short on cash.

For further reading please see:
Barry Minkow 2.0 by Beth Barrett
http://www.laweekly.com/2010-10-14/news/barry-minkow-2-0/

Barry Minkow Destroyed Evidence and Lied, Judge Says, by Beth Barrett .

http://blogs.laweekly.com/informer/2010/12/barry_minkow_destroys_evidence.php

http://blogs.laweekly.com/informer/2011/03/barry_minkow_charged_with_insi.php

[Renee]

Amazing strength for LEN in this volatile market due to the events in Japan .

[Renee]

LEN...strong like bull . Solid .

[Renee]

Plus $20 ....I'm very impressed .

[Santa Barbara Broker]

Yes it has...I sold my 12s/13s when it hit $17 but I am sure the stock has legs back into the 20s in the next 12 months. Depends largely on whether or not FL housing market can maintain equalibrium into 2011.

SBB

[Stock_Barber]

It has been a nice run!

[Renee]

I'm tempted to cash out and see where the PPS goes from here .

[fourkids_9pets]

Barry Minkow Scheme: Documents Show He Trashed Lennar Corp., Sent Its Stock Down $500 Mil, Then Bought It Up

By LA Weekly
published: Thu., Nov. 4 2010 @ 4:30PM
By Beth Barrett
blogs.laweekly.com/informer/2010/11/barry_minkow_lennar_scam.php

The Weekly reported last month that Barry Minkow, L.A.'s most famous convicted fraudster, once again isn't to be trusted. He was accusing major firms of fraud and financial crimes--and making money at it, even though he couldn't prove his claims.

Now, court records newly obtained by the Weekly show that Minkow tried to have it both ways in his attempted take-down of Lennar Corp., whose plight was detailed by the earlier Weekly story:

After Minkow called Lennar a "financial crime in progress" last year, driving its stock down nearly $500 million, he bought Lennar stock, betting that the supposedly shady home-building giant would prosper. Here are the juicy details:

Minkow is the supposedly reformed fraud king who as a teenager in the mid 1980s duped the news media, investors and federal regulators with his ZZZZ Best carpet cleaning company.

He took the company public, becoming the youngest person ever to do so. He served seven years in prison after the company was revealed as a giant Ponzi scheme.

After his release in 1994, Minkow became a church pastor and a media darling as a reformed fraudster turned fraud buster.

He began making money by buying "short" positions on the stocks of certain companies, then issuing reports critical of those companies, driving their stock prices down.

By buying "short," Minkow profited when the stock price fell.

The Weekly reported Oct. 14 that court documents in Florida cast major new doubts on Minkow's credibility. Those documents are being generated in a lawsuit Lennar is pushing against Minkow in retaliation for his damaging claims about the company.

Minkow was paid handsomely by a client for his January 2009 report dissing Lennar. It caused the stock price to tank.

But court records now show that he later bought Lennar shares after the price fell. As he explained in a deposition in the lawsuit 10 weeks ago, "I thought the stock was going to go up."

In other words, Minkow profited by warning investors that Lennar was committing crimes. Then, after investors fled the stock, Minkow bought it--without telling investors he thought the company had growth potential.

Minkow attorney Alvin E. Entin, of the Florida law firm Entin & Della Fera, told the Weekly that in December 2008, a month before Minkow's scathing report on Lennar, and in May 2009, Minkow bought short positions on the company's stock.

In December of last year, Minkow took a "long" position--betting the price would rise.

http://blogs.laweekly.com/informer/2010/11/barry_minkow_lennar_scam.php

--
original post courtesy of scion

--
4kids
all jmo

[Renee]

Lennar Corporation Declares Quarterly Dividends
Lennar (NYSE:LEN)

Thursday 30 September 2010

Lennar Corporation ( NYSE: LEN and LEN.B ), one of the nation's largest homebuilders , announced that its Board of Directors has declared a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock payable on October 28, 2010 to holders of record at the close of business on October 14, 2010 .

Lennar Corporation , founded in 1954 , is one of the nation's leading builders of quality homes for all generations . The Company builds affordable , move-up and retirement homes primarily under the Lennar brand name . Lennar's Financial Services segment provides primarily mortgage financing , title insurance and closing services for both buyers of the Company's homes and others . Lennar's Rialto Investments segment is focused on distressed real estate asset investments , asset management and workout strategies . Previous press releases and further information about the Company may be obtained at the
" Investor Relations " section of the Company's website , www.lennar.com.

-----------------------------------------------------------------

WOO HOO ....I'm gonna get $120.00 free money ....my head is swooning .

[Renee]

Lennar returns to profit in 3Q and shares soar
Homebuilder Lennar makes money in 3rd quarter on bump in deliveries and shares spike .

In this Sept. 4, 2010 photo, construction continues in Lennar's Silver Palms housing addition in Homestead, Fla. Lennar Corp. returned to profitability in its fiscal third quarter Monday, Sept. 20, as home deliveries climbed and construction costs declined. (AP Photo/J Pat Carter)



Related Quotes
Symbol Price Change
LEN 15.14 +1.15


Alex Veiga, AP Real Estate Writer, On Monday September 20, 2010, 5:12 pm EDT
LOS ANGELES (AP) -- Lennar Corp. returned to a profitable third quarter Monday as strong completed sales helped drive a 14 percent jump in revenue and the homebuilder's construction costs declined.

But the absence of federal homebuyer tax credits sapped demand in the June-August period and new home orders fell 15 percent.

President and CEO Stuart Miller said June was the slowest month of the quarter, while July and August were "a little less horrible."

"It's been a tough summer," Miller said. "As we've gone into September, we're seeing a little bit of pickup in our traffic, but that shouldn't be cause to have a sigh of relief at this point."

Lennar and other homebuilders enjoyed a bump in sales this spring as affordable prices, low mortgage rates and two federal tax credits lured homebuyers into the market. Since the tax credits expired at the end of April, the number of people looking to buy has dropped. Even the lowest mortgage rates in decades have failed to push sales.

The biggest hurdle remains uncertainty over any economic recovery with the country's unemployment hovering near 10 percent.

The National Association of Home Builders said Monday its index of homebuilders' confidence in the housing market remains at the lowest level in 18 years for the second month in a row.

Stuart said the housing market recovery will continue to be "rocky and sloppy," but there are some positive signals.

"There are real buyers out there," he said. "A modest improvement in the job market and consumer confidence will dramatically improve demand."

The Miami builder said it earned $30 million, or 16 cents per share, for the three months ended Aug. 31. That compares with a loss of $171.6 million, or 97 cents a share, a year earlier.

Revenue rose 14 percent to $825 million from $720.7 million.

The performance easily beat the expectations of analysts surveyed by Thomson Reuters, who predicted earnings of 5 cents a share on $777.5 million in revenue. These estimates usually remove one-time items.

Management reiterated that it expects to post a profit for the full year.

While some of the other major publicly traded builders have posted a profit of late, they also have seen new home orders drop sharply the deeper they got into the summer. But Lennar's new home orders didn't fall as much as some analyst had anticipated, and its shares spiked 8.2 percent, or $1.15, to $15.14.

"While these results clearly don't point to any real improvement in the demand picture, we believe that Lennar's ability to continue to show profitability in this slow operating environment will be a positive for the stock," Barclays Capital analyst Megan McGrath wrote Monday.

The company credited its revenue rise mostly to the increase in completed sales, which rose to 2,909 compared with 2,660 homes in the prior-year period. Average home prices rose slightly to $240,000 from $239,000, while incentives were reduced to $30,600 per home delivered from $42,200.

The company said some areas of Maryland, north Virginia, Raleigh, N.C., Texas and even South Florida are doing better than most of the other markets in the U.S. The builder has seen higher demand in those areas and been able to raise prices in some communities.

Aside from reducing construction costs, the homebuilder also managed to trim its selling general and administrative expenses by 4 percent.

Lennar has operations in 17 states and sells homes for entry level and move-up buyers as well as retirees. It also operates a unit that primarily buys distressed real estate investments.

Online:

Lennar Corp.: http://www.lennar.com/

[BENZ]

You were the best of the bests brother. R.I.P

[langlui]

R.I.P.

[Renee]

Thank you , TavyCal . Pisa was a well respected and admired member of I-HUB .

Very sad for Pisa's family and friends .



Renee

[Tavycal]

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54089155

[Stock_Barber]

This was written by one of my favorite bloggers Mish Shedlock, and is relevant to LEN:

Last Hurrah for Housing

Case-Shiller Home Prices in 20 U.S. Cities Rise More Than Forecast

Home prices in 20 U.S. cities rose more than forecast in June from a year earlier, reflecting the influence of a government tax incentive and a sign the market was stabilizing before sales plunged in July.

The S&P/Case-Shiller index of property values increased 4.2 percent from June 2009, the group said today in New York. The median estimate of economists surveyed by Bloomberg News called for a 3.5 percent advance.

The Case-Shiller index is a moving three-month average, which means the June data are still being influenced by transactions in April and May that benefitted from the government incentive. A pullback in demand since the credit ended, mounting foreclosures and an unemployment rate near a 26- year high may weigh on prices in coming months.

Nationally, prices increased 3.6 percent in the second quarter from the same time last year and were up 2.3 percent from the previous three months.

San Francisco, San Diego

Fifteen of the 20 cities in the S&P/Case-Shiller index showed a year-over-year increase, led by a 14 percent gain in San Francisco and an 11 percent increase in San Diego.

Compared with the prior month, 17 of the 20 areas covered showed an increase on an unadjusted basis, led by 2.5 percent gains in Chicago, Detroit and Minneapolis. Two cities were little changed and Las Vegas fell 0.6 percent.

Builders such as KB Home and Lennar Corp. reported falling sales after April 30, the deadline for homebuyers to sign contracts to purchase a home to qualify for the extended tax credit. The deadline to close transactions by June 30 was later extended to Sept. 30.

Donald Tomnitz, chief executive officer of D.R. Horton Inc., the second-largest U.S. homebuilder by revenue, said he welcomes the end of federal homebuyer tax credits that boosted sales earlier in the year.

Back to Normal

“I don’t want the tax credit to be re-enacted or be recreated or extended,” Tomnitz said on an Aug. 3 conference call with investors. “We want to get back to a normalized market.”

Foreclosures may be an obstacle for the market for much of the year. A record 269,962 U.S. homes were seized from delinquent owners in the second quarter as lenders set a pace to claim more than 1 million properties by the end of 2010, according to RealtyTrac Inc., an Irvine, California-based data company.
Last Hurrah for Housing

Case-Shiller is a backward looking index. The increasing number of foreclosures, the complete collapse in new home sales, a massive increase in inventory, and the end of tax credits all suggest we are near the end of the line for this bounce in home prices.

Interestingly, even the home builders are against another home tax credit. Is that reflective of the massive distortions caused by the credit, the realization the tax credit was useless, or the fact that homebuilders recognize there is little chance Congress will back another tax credit?

Regardless, here's the deal: New Home Sales Consensus 330K, Actual 276K, a Record Low. As a followup please see How Many New Home Sales Was That?

Expect to see new all time low prices in some cities later this year or next year as pent-up demand dries up along with incentives that merely brought that demand forward.

http://globaleconomicanalysis.blogspot.com

[Santa Barbara Broker]

Trust me...when LEN runs, it will run hard like before (although that was on the perennial "Arab buyout" rumors) and for the very reason you point out. They are going to need to find 15M shares in short order (no pun intended) and this bad boy will gain 30% in one day if full blown panic sets in. I just think you're a little early. Go play KEM for awhile.

(I'll get you started...50% of the time it spikes a few cents off the open, then drops until around 1030 HRS EDT. Once they shake loose the amateur hour crowd, it climbs till around 1300 HRS EDT. After that, it's your guess. Sometimes it tracks the S&P, sometimes the exact opposite. I'm usually in at 1000-1020 HRS out right after noon EDT. HINT: If you're going to hold overnight, buy at the 1030 HR or 1430 HR dips...you'll never match a decent order AH) GLTY.

SBB

[pisavsopbp622]

well we can agree to disagree. the high short interest is the main reason i bought in. great contrarian indicator. very rarely do you see short interest jump above 10-15% unless bankruptcy, or some scandal is looming. i think the funds took this as low as they wanted to take it, i expect an uptrend channel from here on out regardless of the overall market.

[Santa Barbara Broker]

Read my earlier posts. Your "logic" is fighting itself. You say you want to play on momentum and then take a bullish stance on home builders? You'll get killed if you play both sides for the middle in Septemeber. I expect LEN back at $21 early next year. If you get yourself trashed in Septemebr chasing it up and down, you'll have that much less money to invest when it will do you some good.

Just to show you I'm not a bad guy...go take a long hard look at KEM. There's a fortune there waiting long term and as a low cost trading vehicle while you're waiting. $2K a day can be had easy most days once you've adapted yourself to the trading patterns. Let LEN find out where it wants to be...12% short interest is just too high in an unstable low volume market. Maybe October once the election results are starting to shape up a little clearer.

[pisavsopbp622]

Not a chance. Why do you think the stock moved from $21 down to $11.93? ALL THE BAD NEWS WAS GETTING PRICED IN. So the bad news hit and the stock bounced, short squeeze coming. Housing is the ONLY sector in the market I am bullish on. Housing stocks have been getting beaten down for 2 years, only one way to go now imo

[Santa Barbara Broker]

Happened exactly as I predicted. There was a dip into the 11s and a huge buyer came on board. New base is $12.50. "Huge buyer" wasn't you in case you're wondering, lol. Stock's "momentum" is 100% dependant on the general market right now which had a couple days dead cat bounce off a perception of being oversold. September will be a bloodbath and see LEN back down into the 11s again. Play it against that and you'll be losing money in no time.

[pisavsopbp622]

Looks like you were wrong, hoped on this momo train on the 13 support retest Friday. Looking for $15 on the squeeze and market relief rally.

[Santa Barbara Broker]

LEN dips into the $11s today on bad housing report. Unexpected good news, (and the chances of that are almost nil) might allow another base to start forming in mid-$12s. But you can't fight momentum and the shorts rule this sector. No support left under $12.50 on bad news. Free fall to $8s unless an institutional buyer or some oracle steps in. I am waiting for all the analysts that were screaming BUY BUY BUY @ $18.00 to start issuing downgrades at $10 or $11 after the carnage is pretty much over and the nitwits who listen to their insane reasoning have lost all their money, LOL. I can read it now...after some reconsideration, we have decided to reduce Lennar Homes to a "sell" from a buy due to the fact we were completely wrong, now look like total jitbags and have managed to get all our valuable clients into a massive short position to take advantage of this downgrade. New 12 month price target $8.00

I LOVE those guys.

SBB

[Santa Barbara Broker]

Did I say long? No I meant SHORT candidate. $12.61 is the last ledge then it's $8 bucks and change. I mean, I can understand why it declines 4% in one day. 12K temporary census workers applied for unemployment. If that isn't a 100% guarantee of a Great Depression and a new housing crash I've never heard one. A forward looking PE of 6, upward guidance, every analyst following the damn thing has either an accumulate or buy on it. The balance sheet is the best in the industry, they have cash to burn, their losses are almost entirely written down and their land portfolio is earning them a ton of money already. Their TX market is on fire...even FL is coming back where they are strongest. And people are laying out 2008 and 2009 buying and building numbers from the worst period in history as the locked down patterns for the next 20 years and trading that way. The inventory on the market right now in 2005 assuming another 300K foreclsures over the next 6 months could be absorbed in 1.2 years. And I hear idiots on CNBC saying it will be 30 maybe 50 years till the excess inventory is mopped up? Gee, did America outlaw immigration and reproduction while I was out this afternoon? Amazing. I hope Warren was right about that blood in the streets thing. And the scam garbage soars on nothing, LOL!

SBB

[Santa Barbara Broker]

Looks like $13.45 the old support is going to become the new resistence. It should be easily broken with continued upward pressure off the general market rebound from the 5% pullback over the last 10 days or so. I see $14.30 and then $15.20 as real bear resistence to get through. I am guessing LEN will roll between $12.75 and $14 for the next couple weeks until earnings and corporate guidance on 9/21 cause a breakout. Short interest is around 11% of the O/S and probably 30% of the float. I would be monitoring that number closely headed up to Sept 21st. A good short squeeze launched at about $14 would send LEN to $15.50 pretty quick. All IMHO.

SBB

[Santa Barbara Broker]

This market just doesn't want to collapse. The short side of it has pulled out every stop and tricked every tool in the box and they just can't send it into panic mode. The easy scares and flippers are gone for awhile. The size of conjones you'd need to short this market right here are enormous. LEN might not require quite the amount of courage to short, but it can blast up a $1.50 inside 3 days. I am sorely tempted to buy a couple more thousand shares in around $13.40 but have decided to hold off. I still think the mid-high $12s aren't out of the question. It depends how much fear the short interests can drive into people over the weekend. Next week determines the pattern for the remainder of the summer...either another 6-8% decline or a slow back and fill upward into October when the election picture will materialize and anticipated future policy will take over the market's direction into the new year.

[Santa Barbara Broker]

SB, I'm betting we'll see a dip to $13 or maybe a wee bit lower. Probably today. I was tempted to re-enter yesterday but I held off. The bears are in charge of this market for a month or so...they're wrong of course, but they're in charge...

SBB

[Stock_Barber]

Are we back at a buy point?

[Santa Barbara Broker]

Finally got back some decent money and picked up all earlier losses on this beast averaging down of all things. I had almost $100K in it at one time, LOL. I think I have it figured out now...DUH. It's buy low, sell high, right? I'll be back in tommorrow if it dips below $14.25.

[Santa Barbara Broker]

Re-analysis...which coming from me on this stock is about worthless. But anyway....

I thought by watching the trend and momentum that LEN had moved past it's old bottom support at $14.49 (next rung down $13.73) and moved up a notch to $15.20 making a $15 a share buy relatively safe. Wrong. Again.

I swear that some short traders just love a challenge. There has been nothing but upgrades and good news for LEN for the last month. Every analyst puts (no pun intended) it at the top of the homebuilders "most likely to recover first" list. Consensus is for LEN to announce a (.04) per share loss on September 21st but word on the street is they will kill that number and announce between .05 and .10 cent a share profit. Even S&P data suggests that LEN is a much stronger company internally than when it was trading in the $50s prior to the housing crash and burn. All of which seems to just drive the short interests in toward the stock in droves. Go figure...you would think there would be easier targets. And (lest I start to sound like the weasels at the "cabinet" board), they are probably just trading the channel of support and resistance as well. But it is certainly confounding.

If LEN falls to $13.75 I intend to double up on my current trade (doing what is probably the second dumbest move one can make in trading...averaging down). I have already made the dumbest move which is to remove the 10% stop behind the shares I bought Tuesday. But there is only so long a stock can bear up against an overwhelming trend to trade higher in an obviously improving housing sector. I may even add a thousand shares if it dips below $14.49 this afternoon. I hate to be a contrary indicator, but there you are. I just want everyone else here trading to know what I am doing so they can plan accordingly...and do the opposite. Boy, am I glad I abandoned the AAPL trade...making $500-$2000 bucks a day with little or no risk. No sense sticking with that plan....

SBB

[Santa Barbara Broker]

There are certain stocks certain people shouldn't own. EXPH is everybody's. LEN is mine....all I can suggest you do is pay attention to my buying points and short as many shares from there as your account will allow.

SBB

[Renee]

Took my paltry profits yesterday , SBB ...$1.25 X 2,500 shares all tolled . Just waitin' for the next channel .

[Santa Barbara Broker]

Strongly suggest you take profits and bail again...I bought my shares back at $15.02. It's a straight retracement to $13.99 from here.

[Renee]

$15.64 pre market . Wuv it !!

[Renee]

Just got home from work to see I am the proud owner of my 2,500 Len shares again . Couldn't watch so I put a limit at $14.10 and filled near the EOD .

GULP ....come on channel up , up , up ...come to mama , LOL .

[Santa Barbara Broker]

Oh I forgot. The absolute FOOLPROOF indicator. The 100% guarantee LEN is going to run. Goldman lowered it's rating on Wednesday. Translation, they needed it to drop to support levels so they can load up their clients. Which usually takes them 3-5 days.

Goldman lowers their rating on an equity for two reasons. 1) They had just raised their rating to "Outperform" and the stock fell 75% the following day so they decide to let their bankrupted chump change clients who invested in it know they now think it might actually "underperform" or, 2) They need to knock down the price 10-20% for a couple of their big money clients to get off their short and go long.

Classic scumbag GS manuever...IMHO, of ocurse.

SBB

[Santa Barbara Broker]

And bud, LEN's is perfect. A classic chart...support at $14 and resistance at $22. Even the sell-off couldn't really break support for more than a session. Every indicator in the world says LEN is headed to $22 and now is the time to buy. And short of some psychopath flying a plane into a building, there is no reason it shouldn't run. As long as I don't buy it. So I'll warn everybody if I do so you can short it. IMHO.

SBB

[Stock_Barber]

Every time I see a perfect channel and play it... the channel never holds! LOL!

[Renee]

Gonna start playing the channel . Will try to get my 2,500 shares back IF there is a friday EOD sell off .

Broke even on my last stint and that's just not good enough , LOL .

[fourkids_9pets]

very nice

Detailed Quote:LEN
LENNAR CORP.
14.660.07 (0.48%)AS OF 3:27:49PM ET 07/15/2010

Last Trade 14.66
Trade Time 3:27:49PM ET
Last Trade Exchange BATS
Today's Change 0.07
Today's % Change 0.48%

Bid 14.6600
Bid Size 32
Bid Exchange Third Market
Ask 14.67
Ask Size 10
Ask Exchange NYSE
Primary Exchange NYSE
Currency USD
Open 14.55
Day High 14.80
Day Low 14.05
Previous Close Price
07/14/2010 14.59
52-Week High
04/23/2010 21.7900
52-Week Low
07/14/2009 8.3000

Volume 4,484,203
Average Volume (10-Day) 5,678,241
Average Volume (90-Day) 7,020,363

---
4kids
all jmo

[afxm]

My email is the best way to communicate with me concerning the board, My addy is on my profile. Thanks for your interest. :)

[Santa Barbara Broker]

We're in this supposed "July" rally pattern that occurs in several stages during election years. So far the down January, up spring rally, catastrophic June, followed by the July rally has followed the pattern exactly. If it holds true, we see a decline starting in August and accelarating into September leading to a "scare the p*** out of you" decline in October. Then the big year end rally following the elections. Yeah, well. So they say on CNBC. I have been trading AAPL shorting it and going long picking up a couple hundred a day on cautious quick trades. Once I have my loss back on the LEN trade and bail, I'll play it for this rally and then go to cash and maybe just play a short trade here and there until there is this supposed "blood in the streets" this October. The market is in total chaos...there is no order. Lemmings run frantic in the streets...raping, robbing pillaging. T/A is down the drain. Pretty much have to go day to day using the major indices and individual company news to flip for chump change. Oh...go LEN!

SBB

[Renee]

See ....told ya . As soon as we got out of LEN it takes off like an Olympic sprinter .

Just talkin' to myself .

I want my shares back sniff sniff

[Santa Barbara Broker]

Gosh Auntie Em...who could have seen THAT coming? Never fight momentum or the trend except if you are employing logic and reason. Unless neither seems to be the right or the wrong choice....in which case toss a coin and figure no matter what comes up you'll make the wrong call then do the opposite which will guarantee you will be wrong unless you get hit by a Greyhound bus outside San Pedro before you get to your office and can enter your trade. Anybody get the number of that northbound train?

Buy LEN, buy bye, buy bonds....yadda yadda.

Warren Busted

[Santa Barbara Broker]

Could have sworn they left them slide to the fifth digits on the pinks. Is the cut off at .0001? Oh yes, be sure and dispose of your trading LEN shares until further notice and all that...All IMHO.

SBB

[Renee]

Hahahaha ....I luv your inimitable way with words , SBB .

Of course LEN will take off now that we're out of it . I may consider just playing it for the 5 % lows to highs . It's that timing thingy I'm not that good at .

Alas ...spectators at this point .

[Santa Barbara Broker]

Prepare for the greatest rally ever witnessed by humanity in Lennar. I just closed my trading position on the little uptick this morning, fighting every instinct and piece of logic I know. My guess is that it will now do an immediate about face and reach $60 a share in two weeks. The reality being that, fighting the lemmings when they have massed and are traveling at high speeds in astounding numbers to their destruction in the sea is a waste of time. This is not the first time illogic, irrational fear and stupidity won out....it will most definitely not be the last. But I am not willing to play the part of Monty Python's Black Knight guarding the bridge the little SOB's are running over while they chop off my arms and legs on the way by.

SBB

[Santa Barbara Broker]

Don't blame you...this is getting very, very ugly. I should have learned a long time ago not to even post recs. Always ends up causing other people grief.

I am a victim of common sense and math. Not of using it, just of having used it before lemming season was over. I came within a whisker of getting stopped out last week. If this continues after the holiday, I'm jumping ship as well. I still see hard-core support at $13.00. If LEN closes below that and I don't get stopped out (which would be almost a miracle), I'll be out anyway. From there we drop to $11.25. It breaks $11 on volume in this market, it's back to single digits. So much for my cabinetry profits, lol.

SBB