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4/20/2010 1:18:52 PM Eastern Time

Go Long HOV @ 5.69
By Charles Payne, CEO & Principal Analyst

Long Idea: HOVNANIAN ENTERPRISES INC (HOV) @ $5.69
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Trading Parameters
Entry Price	Entry Limit	Stop Loss	Trading Target	Target	Long-term Target	Options
$5.69	see comments	$5.10	$6.40	$8	N/A	N/A

SKINNY: After a string of misses the company blew away the street in the Jan quarter with earnings that beat consensus by 745%. Consequently consensus earnings estimates for the current quarter and year have jumped higher but could still be conservative. Technically the stock is lifting off a long base and on the cusp of a major breakout through $5.40 from there it has a straight shot to $6.40 then $8.00. There was a recent 300,000 share purchase by an insider and that makes us feel better (haven't seen a lot of insider buying in the market). This is a higher than normal risk idea with a Beta over 3.0 our stop loss would be $5.10 but could move around. Buy @ the market.