Tuesday, December 26, 2006

REITS (50 day Moving Average)



I'm really not looking to buy anything right now given my bearish stance but maybe you are so I am posting this chart. The reits are sitting on their 50 day moving average which also coincides with the trendline (green dashed line). You'll notice that recently the reits tend to make bottoms approximately every 6 1/2 weeks which is where we are now. The stochastics oscillator is also in the buy zone. This looks like a low risk play to buy right here at support with a stop right below the trendline..

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