REITS - Buying 1 - 2 weeks before going ex-dividend Message Board

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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend

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To: gregor who wrote (1342)	5/18/1999 8:41:00 PM
From: Richard Barron	Read Replies (2) of 2561

Gregor, REITs are oversold using the 7 day envelopes, but the RMS would have a 33-38% retracement by pulling back to the 310.00-312.50 range again. After such a strong run, a 1/3 retracement is pretty normal. I show 311.50 and 310 as good support levels. That is only 2-3% more from here, so we will get our buying opportunity. The key is to see if the internet and large caps start to break down. Utilities have been trending up strongly for the last 6 weeks, so a move for safety may or may not include REITs. I just hope some news leaks out about Buffet accumulating some more REITs (if he is). Still, I wouldn't mind them going back 10% lower to the tremendous yields. I like quality REITs paying 10-12% dividends. Richard

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