D R Horton (DHI) NewsBite - DHI Falls on Home Sales Data

Posted: Wednesday, October 28, 2009 11:08 AM EDT

D R Horton (NYSE: DHI) opened at $11.66. So far today, the stock has hit a low of $11.11 and a high of $11.75. DHI is now trading at $11.25, down $0.56 (-4.74%). Over the last 52 weeks the stock has ranged from a low of $3.79 to a high of $13.90. DHI shares are falling with other homebuilders this morning after the Commerce Department reported that new home sales fell 3.6 percent in September, the first decline since March. Technical indicators for the stock are bullish and S&P gives DHI a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on DHI the stock seems like it could be a candidate for a February out-of-the-money bear-call credit spread above the 13 range. [ABR-Seven Summits Strategic Investments NewsBite]

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