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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (168677)	12/3/2008 1:22:47 PM
From: ChanceIs	Read Replies (1) \| Respond to of 306849

RE: CTX You make good points. I shorted around $8. I am now using (for the first time) strict loss cutting rules. I morphed my position into naked Dec $12.50 calls. (Sold Dec $12.50 puts against the short stock to make my exit about $10 given the put premium.) The IBD recommends cutting losses at 10%. So I sucked a 25% one here - and I am still not out of the position entirely. Will remian short if we get above $12.50. I see that the trend line is in the low teens as you suggested. There is normal resistance before that - which we seem to be breaking. The fundamentals just keep getting worse - mortgage applications this AM notwithstanding. BZH certainly laid an egg yesterday. Mr. Market is obviously all wet about CTX. And KBH.