Monday, April 09, 2007

Patience Ran Out for MHO

On 8/7/06 I chose M I Homes Inc. (MHO) at 35.04... it's obvious that I held it for too long and missed the "dead cat bounce". In early December '06 it reached a price in the high 38's; from that time, it's been on a downward spiral without any significant support and nearing 4 year lows.
Taking a 26.6% loss, I have to bail out of this one at 25.73, don't see too many possitive signs for the immediate future. It may take the housing industry anywhere from 1 to 2 years to recover.

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