REIT's flagging above prior base

Posted by downtowntrader | 4/04/2010 10:44:00 PM View Comments

Futures are higher as I write this Sunday night and one group that looks poised to move higher if the markets continue to trek higher is the Commercial Real Estate stocks. The sector as represented by the iShares Dow Jones US Real Estate (ETF) (Public, NYSE:IYR) has been showing good strength over the past month rising steadily from the low $40's to the low $50's. It cleared its base in early March and has been flagging in a tight range for the past two weeks. Many traders keep betting against this group, but if you blacked out the name of the product, it would be hard to argue with price action over the past several months. If IYR can get over $51 it could signal a continuation of the breakout.

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Beyond the IYR ETF, many individual REIT stocks also look like they could move higher. Below is a list of a few that look very similar to IYR and are worth watching moving forward.

Simon Property Group, Inc (Public, NYSE:SPG)

Vornado Realty Trust (Public, NYSE:VNO)
Federal Realty Inv. Trust (Public, NYSE:FRT)
The Macerich Company (Public, NYSE:MAC)
Developers Diversified Realty Corp. (Public, NYSE:DDR)
Hospitality Properties Trust (Public, NYSE:HPT)

Good Trading,


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