Covering LEN @ $58.90
Realized loss of $2.65 (4.71%)
As we prepare the portfolio for the weekend, we're taking off part of our housing short. Lennar was the last part we added and was supposed to be the "juice" of the trade. But as we said in the Daily Note, we don't want to be 20% short heading into a long weekend. Even if it's the correct fundamental decision to be that short, the risks outweigh the benefits. Don't worry, we'll still be plenty short to profit from any weakness next week.
And there are no rules that we can't re-short Lennar (and anything else) again next week!
Realized loss of $2.65 (4.71%)
As we prepare the portfolio for the weekend, we're taking off part of our housing short. Lennar was the last part we added and was supposed to be the "juice" of the trade. But as we said in the Daily Note, we don't want to be 20% short heading into a long weekend. Even if it's the correct fundamental decision to be that short, the risks outweigh the benefits. Don't worry, we'll still be plenty short to profit from any weakness next week.
And there are no rules that we can't re-short Lennar (and anything else) again next week!
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