I moved my entire position into LEAP calls last month. At the moment I have an 89% paper loss. My retirement account is in a mix of common and preferred. A little more than a 50% loss there.

And I'm doing nothing about it.

Despite all the bad news, the company is not going out of business. I see no immediate need to rush to the exit. I doubt if a snap judgment today would be superior to one based on more facts and figures, such as when the K comes out.

Give it time. Shut off the computer and go for a walk. When you're calm, consider it as if you'd never bought the company before, but had a chance to purchase shares at today's price. Knowing what you know now, would you?

Housing is cyclical. There'll be boom times and bad times. It's still an attractive business to be in if you have the capital to weather the bad times. If the company remains public, there will be dividends in the future. If it goes private, you'll still get more cash in the buyout than selling today.

Take a breath and think about it.

Strong emotion is seldom helpful in investing.