I Tried To Tell You

So, back on March 28th, I started posting my opinions on real estate stocks and what appeared to be  good looking technical setups.  Everyone has been so against real estate (for good reason) that few have taken the time to check out the charts.  From my March 28th blog:

Why isn’t anyone talking about real estate?  Yes, I know, a bear market in real estate definitely doesn’t look promising.  However, the charts show a move might be about to happen.  I’m not sure which way, but if the trendline resistance is broken long, you might see a few very short-term breakouts.

I mentioned DRE and UDR, specifically.  On Friday, both showed huge days up 12% and 9%.  Check out the daily charts on IYR, BRE, PPS, AIV and others.

So, if you’re a day or swing trader like me, don’t forget to scan those sectors that have been destroyed over the last 4 months.  There are great bear market rallies hiding in the crap. You must also remember to take profits and set tight stops. 

BTW – if real estate moves up Monday, URE and PLD are my first plays.

Tags: AIV, BRE, DRE, IYR, PLD, PPS, UDR, URE