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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend -- Ignore unavailable to you. Want to Upgrade?

To: gregor who wrote (1527)	9/28/1999 11:39:00 AM
From: Richard Barron	Read Replies (2) \| Respond to of 2561

Looks like the general market wants to tank. REITs are still up, but struggling. The ^RMS has a tiny bit of support on a trendline from the weeks of 4/12/96, 10/9/98, 3/26/99 and now. The last 3 are a very symmetric M bouncing off the upward slope. Still, I'm not too excited about the prospects of the support holding. For a lighting fast trade, GLR is buying back 25% of the company in 3 days at 10-1/2, and is trading 9-3/4 to 10. It isn't guaranteed, since it's a dutch auction, but a 3-5% gain is likely by October 1, the first day of the dutch auction. Intermediate term, the stock will be a good short afterwards, as the dividend cut will drive out yield searchers. biz.yahoo.com