Trader’s Narrative

Almost a year ago I asked rhetorically, is the REIT bull market over? My own take on it at the time was that what we were seeing was yet another correction and not a top, as it actually turned out to be - in hindsight.
So where did I go wrong?
For starters, unlike the Canadian REITs […]

Let’s take a look back at my previous commentary on Canadian REITs’ oversold condition on June 27th, 2007. Yup, it is report card time!
Unlike many other trading bloggers who let previous calls drift into the ether I like to keep myself honest by reviewing past calls and analysis. Both to be transparent and to give […]

While US REITs breached their long term (200 day) moving average in early May, the Canadian REITs have just breached their’s. They have been getting roughed up all this month. But the selling has reached a point which I think has washed out all the weak hands.

For starters, the S&P/TSX Capped REIT Index is now […]

Last Monday (May 21st, 2007) I wrote about the deep oversold condition in the US REIT sector and why I thought that it was a bear trap.
So far, according to the CBOE Dow Jones REIT Index (DJR), things have played out according to that script. After reaching just below the 200 moving day average and […]

I’m seeing a lot of attention directed towards the weakness ni the US REIT sector:

the CBOE Dow Jones REIT Index (DJR) weak relative strength
DJR formed a clear “head and shoulders” pattern
the weakness in the real estate market in the US
DJR just fell through long term support at the 200 day moving average […]