ETF CORNER

IYR : $45.3 !

This is an important support for IYR (Real Estate) ! It's bouncing off that level as I'm typing this... however,any break and close below $45.3 would be quite bearish for IYR and URE (Ultra IYR) and bullish for SRS (Double Short IYR) ! BTW, I don't expect IYR to go above $48 in 2010 !

IYR : Endangered SRS !!!

IYR is trading at $43.93 right now ! The chart of IYR (Real Estate) can be devastating for SRS (Double short IYR) if it manages to break and close above the blue (R) line ! In this case it would be wise to step away from SRS and buy URE(Double long IYR) ! On the other hand , a failure to break above (R) would be quite encouraging for buying SRS !!

IYR: Bullish pennant ... another breakout coming or is it a fake?

IYR(Real Estyate ETF) has formed a bullish pennant  ! URE(Ultra long Real Estate) for those who believe the breakout will be for real, or SRS(Real Estate Ultra short) for those who think it will be a fakeout ! If this breakout is for real, then the next measured target will be roughly $45.

BTW : I remember having hate mails when I was calling for "a" bottom in housing for 2009. Granted I did not expect IYR to go that high !