Trader’s Narrative

The markets are melting, banks are having epileptic seizures, the credit market is frozen solid… and short selling suddenly is illegal, so where are you supposed to hide out? Are there any safe harbors in which to weather the storm?
Something that has been working for me (so far) is Canadian REITs. In almost any crisis […]

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 […]