Gregor,
The RIX is at almost an exact double bottom, and the 50 day moving average is also coming into play for an acceleration point to drop below or bounce off of. The RMS is definitely looking a little more perilous, with a slight support also around 315.85. The hotels are probably out of momentum and sentiment is turning ugly again,despite the very low multiples. The health care sector is probably going to get an attempt from legislation to help out the nursing home operators, etc., by easing up some on the PPS. If not, many occupants in nursing homes are going to get really ticked off and will let their congressional representatives know about it. I have heard whispers that this is scheduled for July.
Barrons: Page 24 shows a guy who likes some of the mortgage REITs and F5-F6 shows a guy who" He loading up on REITs and real-estate stocks, because he likes their yields. The prices of some smaller names, - particularly compared to the values of their underlying properties - are appealing. He won't talk specifics because he hasn't finished building his positions." That's nice that he wants us to buy when he recommends them after he has built his positions. Still, it's nice to know that a value fund is still accumulating REITs, especially some of the smaller names. I agree, with GLB, CRRR appearing to be very undervalued, though I won't be surprised by 10% pull backs anywhere. Except for MAA, there were very few screaming buys out there. EPR is at a very attractive level after a secondary, and CEI is trading in a 5-6% range each week and should be at an attractive price again soon.
Richard |
