SHORT THREAD!

[Melf Elf]

ZMH is boring, but broke Descending Triangle and today's 65.49-65.50 support. I'd like to see a close near 65.11 for a Bearish Engulfer.

[nullzero]

ZMH is a slow mover right now but thats a good thing espically if the overall market trends with the bears.

[joet]

ZMH boring agreed,  my stop at 66.66 is in place, figure there will be movement in most markets after tommorrows fed meeting...
AKAM short in my favor, PHM is against me for a wash on those two... and AAPL UGH just spiked on Jobbs appearance but selling now..

If ZMH doesnot move inthe next 2-3 days I will probably cover to free up some funds.

I am trying my OMNI short at 11.60 (stop 12.47 target 9.34) with a small position

cheers joe

[joet]

BRCD  NULZ i hope that you are still hoding your short here NIce wake up this AM, I nver jumped in

PHM  Melf did you get stopped out this AM,  curious to see if it holds the rally

ZMH  threatening our stop as i write 

AAPL  getting some releif

AKAM steady, may cover to hold some profit, current protective stop is 41

OMNI the had their terriffic earninggs this AM, Gap filled and profit taking is happening, stop at 12.47, still short thinking that it will sell of some.

Cheers Joe

[nullzero]

Yeap I just covered BRCD for 16% profit  .

PHM still holding
ZMH still holding
AAPL still holding

I dont have any worries any of those shorts are going to move up much. The fed pause or raise is going to be a sell off on the markets I believe.

[Melf Elf]

PHM  Melf did you get stopped out this AM,  curious to see if it holds the rally

yes, joe, i posted it in phm folder.

ZMH  threatening our stop as i write 

covered zmh short at 66.60.  loss: 1.6%

[joet]

ZMH it went past my stop limit order of 66.66 with out filling, RSI was getting high on the day so i moved the order to 66.95 for now...  i realize that i should probably stick to the original plan...  todays reasoning is that ZMH still appears to be overbought, look at the 2 year chart, the trend is down and on the 1 year chart all of the peaks are lower going forward even on better earnings.  If the fed meeting causes a market sell off this should be one that declines...  those are my thoughts on ZMH
Cheers Joe

[nullzero]

I fully agree with you joet. ZMH is giving up its gains as we speak.

[nullzero]

Anyone notice the similarities of the ZMH and AAPL charts? Intresting...

[nullzero]

FED JUST PAUSED RATES! It looks like the buy on rumor sell on news on the markets. All my shorts are doing well  .

[nullzero]

It may take a little bad news( like a downgrade) or a nasty market to take down ZMH. I dont see ZMH climing much more anytime soon but we may need a catalyst to bring down ZMH to cover for some nice profit.

[nullzero]

Keep an eye on CFC it may be good to enter a short position soon. Im going to watch it and see if I can get a short position at or close to 38.

[CFC] Countrywide Financial Corporation

Shares Short 16,052,207 
Days to Cover (Short Ratio) 5.7 
Short % of Float 2.66 %
Shares Short - Prior 15,162,712 
Short % Increase / Decrease +5.87 %

[nullzero]

Wow I cant believe I let this one pass the radar screens... was a Home Builder too!

(CHCI) Comstock Homebuilding Companies Inc.

CHCI released earnings today and tanked BIG TIME!
Previous Close: 5.51
Today's Close: 4.06     down -26.32%!!

From 24 to 4! in 52wks... This could still be played short if there is a clear rebound to short... I would call it a possible bankrupt play! This just goes to show how fast the real estate market is deteriating. The smaller and medium builders are already writing off land to keep alive. When this real estate bubble burst big time and the dust settles not many small to medium builders will be left. This is why I feel PHM and the rest of the home builders will continue there slide down. Im going to research and find smaller cap plays in real estate and home building to short.... only the strongest will survive!

SAN FRANCISCO (MarketWatch) -- Comstock Homebuilding Inc. (CHCI )
after Monday's closing bell reported a second-quarter net loss of $7.1 million, or 47 cents a share, mainly due to a $12.9 million non-cash charge resulting from impairments and write-offs. In the same period last year, the Reston, Va.-based home builder posted net earnings of $3.07 million, or 26 cents a share. Before impairments and write-offs, the company posted earnings of 5 cents a share. Quarterly revenue rose 27% to $50.7 million vs. $39.9 million.

[joet]

Man Nullz do you have to rub it in...   I still own 100 shares of CHCI that i bought last June at $22, one of the first stocks that i ever bought!  Buy and hold right    I was up 20% in the first 2 weeks wow! and have been watching it tank ever since!!  Luckily i still have not averaged down!  Worth the money as a good teacher I guess... It still amazes me, CHCI is profitable and has even acquired another homebuilder in Atlanta in the past 6 months.  I believe that insiders still own over half of the shares...  I do not think that they will go under, but it sure is a possibility.  Perhaps they are just too heavily invested in expensive land??? Profit Margins have been slashed but people still need places to live in the DC area so i expect that these folks will rebound but it could take a couple of years for the PPS to show it..
If you look i started a thread asking about CHCI a few months back "chci gem or junk" guess that my answer is in today!  (also last summer there was NO institutional interest, in the $6 range about 15% of the shares were picked up by the tut's... perhaps they are who sold today???)
Learning the ways of the market, the hard way!  Cheers joe
PS if tank continues this week and RSI hits under 20 i will purchase some for a bounce play (maybe)

[nullzero]

No doubt CHCI might rebound... but future doesnt look good hehe. Did you check out the PHM action today  . Down over 5%  .