RE:RE:RE:RE:RE:RE:RE:110 M USD! In my opinion, there really is no other option but to hold. One obvinous fact is that 1.8 new shares have been added to the float from the debentures at a conversion price of $5.20. Given the low volume since Sept 8th, those that held the debentures to the point of conversion are now still holding onto those same recently issued shares. These are the major owners such as Claret and Beacon. Obviously these guys have zero interest in seeing it float down to below $5.20. If by fluke it gets there, I'm sure they're then buying with both hands. We're also soon going to get some new acquisition announcements very soon and perhaps at a slightly faster pace with an extra $30 M added to the credit limit.
I've been a holder since early in the PHM days and am far ahead on this play. I've skimmed off a bit only to buy back even more along the way. I'm not selling at thes bargain basement levels and I'm not leaving this position for years to come. The recent downtrend on the SP is due solely to macroeconomic conditions and nothing to do with management competence or their track record of steady, methodical execution.