I am not a smart man... but I know what trading is
Monday, February 23, 2009
Real Estate is oversold
Last week we looked at AVB and VTR as short opportunities and entered AVB. IYR is now showing signs of being oversold and due for a bear market bounce, or at least the risk of staying short is too high.
Short AVB was held for a few days and several percent was taken out. I covered on Friday.
Short VTR for a quick swing trade. This worked out okay but showed it was time to cover. The capitulation on Thursaday with decent volume told me it was time to bail. I could have turned around and gone long, but I missed it.