Tuesday, January 16, 2007

Reits: Breakout To New Highs



One of the strongest groups today were the Reits. Back on December 26th, I posted my reasons why the reits should rally. Basically the Reits were at a cyclical low which has been very accurate and were also at the 50 day moving average.

At the time I made that post I was bearish/cautious on the overall market so I wasn't looking to buy anything. If any of you did happen to get long some reits, I still think there is some more upside left in the trade because this particular cyclical low is usually good for about 3 to 5 weeks of upward movement.

2 comments:

Three Kleinbergs and a Macht in Israel said...

Are you concerned that the recent low broke the 50 day M.A.?

Kevin said...

Not at all.. The support level held and the original low was never taken out...

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