PHM trade for 4/4/2016

Posted By JM on Apr 4, 2016 | 0 comments

Pulte Group ($PHM stock) today announced the pending retirement of its CEO & Chairman today. The homebuilder stock got slammed -10% at the lows today because of the news. It is also important to note that other homebuilding stocks were only down -1 to -2% for the day, nothing comparable to the -10% $PHM destruction.

We found the carnage to be highly unwarranted and started bottom picking it around -7%. We loaded up near the intraday bottom today when we saw some big volume trades occur, which sometimes indicates a reversal point. That's indeed what happened and we rode the stock up and took profits along the way. All live trades called out real-time in the MookTrader stock chat room.

Net profit: $2810


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