Thursday, July 2, 2009
Short IYR.....stop at $33.50
I am going to short IYR with a stop at $33.50........aggressive players can buy SRS (ultrashort real estate)
The market is currently breaking down as expected...........if it moves lower than 890 the H&S pattern will become a reality and 800 should follow in short order. A look at the advances/decliners shows that there is ample room for more downside.
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