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January 13, 2009 – Comments (6) | RELATED TICKERS: SRS , SPG , RWR
Jan. 13 (Bloomberg) --
Synovus, Comerica May See Commercial Real Estate Bust
Soon SRS will be at $100 by Feb'09.
SRS is $40 before Feb. 09!The trend is your friend and SRS is a downy. I won't touch SRS before it closes above $81.70 or this bear market rally reaches its peak which is far from done.While trading double or triple ETF you must be able to:
1. Time the market. Wrong entry point is a financial suicide.2. Book your gains frequently.You can be right about the end destination but being early mean you will be wrong. Watch out! Past results are not a guarantee to success. Greed can make a trader or investor blind. Triple8, don't fight the market. If they want to take the market up, better live by the saying; "If you can't beat them, join them."GoodVibe PS. Yes, there will be bust but nothing goes up or down in a straight line and the market can stay irrational far more than you can stay solvent.
I have been patiently waiting for SRS to turn for more than 1 month (since 11/25/08). I could be wrong about the timing since Obama inauguration day is near. However, I believe the market is due to re-test the Nov low.
I legged in a couple weeksd ago avg cost 54. Got stopped out of half my position at 65. WIll sell if it falls under 60 and buy back under 50. I'm waiting for it to have one last hurrah, but double ivnverse have lost their "charm", and will only go up if the VIX goes up...I keep a VERY short leash on this. If it falls under 48, you can kiss it goodbye to no mans land. The fundamentals say SRS should improve, but it's at its lowest price of the year, much lower than when markets were higher. In the long run, I think you could buy puts on eny major ETF, especially the short ones, and make money. So, if SRS goes into the mid 100's, buy PUTS, because it will fall in a hurry. Also, I'm wondering if I'm fighting the government when I'm buying SRS.
I was hoping it would go to 90, but it behaved badly today.
SRS has no trend. $DJR does and it broke the up trend line last week. SRS is the double inverse of the $DJR. $DJR down, SRS up!
Thanks for the tips. I didn't follow DJR but some REITs like SPG, VNO, PLD and RWR. Last time I ride SRS from $112 to $160, but miss the fun to $290 (only few seconds anyone can cash it above $250). It looks like DJR is going down but today action is not looking too good (67 -> 61).
Synovus 1/23/09: The bank increased its provision for loan losses to $598.3 million,
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