Lennar Corp Class A (LEN)

[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