More on Real Estate and REITS

Yesterday I wrote in this post, RESIDENTIAL UPDATE that it appeared the bounce is ending.Many of the REITS were already in downtrends.

Here are their charts today, most have reversed.

 CLP is at 0% for the day and will likely end the day lower

GGP is down on a reversal of the bounce today, -1.65%-MACD is also in a negative divergence.

SLG will most likely end the day lower

 SNH with a -1.54% reversal to the downside today, this is also in an established downtrend, MACD is confirming the downrend.

SPG-with a MACD negative divergence and reversal today.

These are REITS that are tied to various forms of Real Estate, residential and commercial. From what we've seen in the residential space and the last post on SRS, I'd say that this was no more then a typical bounce-nothing goes straight up or down and as pointed out last night, the sector is facing many fundamental problems.

If you like any of these ideas, they are fairly low risk/high probability trades. You can simply place a stop on a closing basis above yesterday's highs.