Toll Brothers (TOL) NewsBite -Toll Brothers Flat on Fed's Statements

Posted on Monday, July 14, 2008 1:38 PM

Toll Brothers Inc. (TOL) opened at 17.95. So far today, the stock has hit a low of 17.33 and a high of 18.21. TOL is now trading at 17.26, up 0.02 (0.11%). The stock hit its 52 week high of 26.94 in July and set its 52 week low of 15.49 in January. TOL has been steady for the past year. Shares of housing stocks have been trading higher today as investors' fears about the credit crisis eased following Sunday's statements from the Treasury and the Federal Reserve that they would aid mortgage financiers Fannie Mae (FNM) and Freddie Mac (FRE) if needed. Technical indicators for the stock are bearish but slightly improving while S&P gives TOL a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider a September bull-put credit spread below the $12.50 range. TOL stock could fall up to 27.6% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]