Long Position on MHO @ $21.89 on 11/27/2012 (Momentum)

M/I Homes (MHO) operates as a builder of single-family homes in the United States. The company operates in two segments, Homebuilding and Financial Services.

The Homebuilding segment designs, constructs, markets, and sells single-family homes, attached townhomes, and condominiums to first-time, move-up, empty-nester, and luxury buyers in the Midwest, Mid-Atlantic, and southern regions. It markets its finished homes through company-employed sales consultants under the M/I Homes, Showcase Homes, and TriStone Homes trade names. This segment also purchases undeveloped land to develop into finished lots for the construction of single-family homes and for sale to others.

As of December 31, 2011, it had 3,041 developed lots and 625 lots under development in inventory, as well as owned raw land expected to be developed into approximately 3,491 lots.

The Financial Services segment is involved in originating and selling mortgages, and collecting fees for title insurance and closing services. This segment serves as a title insurance agent by providing title insurance policies, and examination and closing services to purchasers of its homes.

Shares are heading higher in an upward trading channel, and are presently near the lower boundary of the said channel. Higher prices are  expected for this stock.

52-Week Trading Range:  $7.77 - $24.13

Last Trade:  $21.89

Stop Loss:  $20.80

Target Price:  $24.08

Position closed on 12/7/2012 at price of $20.80 with a -4.98% loss in 10 days.

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