Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Toro's Bull


Thank you fellows!! I'll remember this one


In Latin languages "Toro" means Bull. Something tells me that Hoofy is looking at Toro (TTC) using a variant of "bull", as the company has done a truly pre-Spitzer sandbag job on the bovines. After "boosting" guidance on May 13, resulting in a 10% rally, today the company says that they will kick the next quarter because homeowners have gone AWOL due to the weather.

I am on the dark side of TTC via this "pairs trade" so I have no beef with the action. And Lord knows I have learned to take losses without complaining. But if I were long TTC this morning, I can assure you my former law partners would have a new matter on their desk.

You'd figure that companies would play "cleaner" these days. But apparently TTC did not get the memo that pumping the stock in advance of reporting bad news is not cool.

On a separate front, new home sales notwithstanding, please note that TTC has a greater than .93 (w/ 1 being the max) 1-3 year correlation with the Housing Index (HGX), and even longer and tighter correlations with some individual homebuilders. If after today's stunt one wants to believe in TTC's "the weather did it" excuse, please email me for some special deals on Mohave Desert real estate.

This is NOT advice Minyans, just venting my humble opinion on games people still play, in hopes that it adds value to the process.

Position in TTC
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos