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.
Tuesday April 9, 2013