KBH: Profit Booked

KBH was introduced in the NFTRH+, Trading Notes, etc. segment of NFTRH 436 on Feb. 26.  I had seen some favorable value analysis on the stock, looked at the chart and had to get it in front of subscribers for consideration because its bullish pattern was very impressive and it was lurking at resistance.  It was also in sync with my interest rate view and bullish stance on the Homies in general, at the time.

Now?  Well, I have no real compulsion to be bearish on Housing but I am compelled to take the 10% on this “boring” item, which it seems so many of my holdings are these days (I still laugh when I say the name “Rexnord” to myself).

Here’s the weekly chart (originally used in conjunction w/ a daily for long and shorter-term perspectives).  It’s overbought and at a minor target of 20.  But a more major target, perhaps down the road, is around 24.

kbh

So I just go on my profit-taking, loss-limiting, portfolio rebalancing way while holding the other 2 items from yesterday’s post, plus several others.

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