Down 6% today:
Not only that, the CEO of Standard Pacific Corp homebuilder (SPF) filed an SEC S-4 document which showed he exercised compensation options to acquire 194,325 shares at $3.10 and immediately turned around and dumped them in the market at $8.91. The shares represented 20% of his holdings.
Homebuilder insiders are dumping their shares right now. The homebuilders moved up today on no fundamental news. Every time the homebuilders spike up, you short them. Cover part of your short when they drop hard, like they did last week, with the DJUSHB index dropping 20 points in 5 trading days. Then repeat the cycle. You want to be short the homebuilders when this market starts to really drop because a LOT of money can be made quickly.