Tuesday, March 24, 2009

Punting SRS Long Yet Again

The i-shares real estate ticker IYR is rallying right into a significant resistance area. I am using this strength to get long the Ultrashort real estate ticker SRS here at $49.20 which looks to be a low risk entry area. I am placing my stop at $46.86 which is just below a what looks like a significant support zone.

I am bearish on commercial real estate and maybe everyone else is as well which is why we are rallying. Climbing a wall of worry so to speak. Commercial real estate is a disaster which will be clearly evident with the passage of time.

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:

Long 1 unit Ultashort 20yr Treasury ticker TBT @ $44.25 stop @ $42.17
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.30 stop @ $46.86
Short 1 unit Microsoft ticker MSFT @ $19.20 stop @ $19.20

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