Ramsey,
Barron's had a great article on REITs this weekend. I would recommend that you read it. As for real estate related stocks that may be due for a tumble, take a look at the following: HOMS, CRE, NHP, AIV,CEI, VTR, NLY and MHX.
From a pure technical standpoint, CRE appears to be in big trouble.
As for your comments on an impending recession, it has been our operating assumption that the economy is showing many signs of recession. However, as you know, this does not necessarily translate into a linear forecast as to where the market is headed or for that matter how quickly it will get there.
From conversations with many associates in the real estate business across different parts of the country(I worked 8 years in the mortgage business), it appears to me that the real estate business is softening.
As for a brief technical overview on the stocks that you posted, CD has formed a bearish dark cloud cover candlestick formation, FNM has formed a bearish engulfing candlestick formation, CCR looks to headed for a potential double top with volume beginning to dry up, GDW & BAC both have broken their trend line and WM is close to breaking its trend line on an ascending head and shoulders formation. All in all, with the exception of SIVB, this group of stocks looks to be headed lower. I hope my comments have been helpful.
Ed - DrFibo |
