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TOL Chart Earnings & Commentary

 
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PostPosted: Sun Feb 19, 2006 12:06 pm    Post subject: TOL Chart Earnings & Commentary Reply with quote
TOL reports earnings Thu. Earnings expectations were sharply reduced, because of expected rising mortgage rates and an expected slowdown in new home sales. However, the 30-year fixed rate remains low around 6% and new home sales remain high (see "Weekly Economic Reports" site in the "List Your Favorite Links" category). Consequently, TOL has a forward P/E of just over six, after next year earnings were lowered from 6.40 to 4.78. The weekly chart below shows TOL closed below the lower Bollinger Band. Consequently, there may be a bounce to about 35 into or after earnings, although longer-term major support is around 20. The Mar 30 calls are 1.35 and may be worth the risk.

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