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.