what happened with reits?

Discussion in 'Trading' started by robbie380, Jul 8, 2008.

  1. anyone know? insane runs
  2. Shorts covering
  3. sector was way oversold, looked like panic short-covering - biggest moves were mostly in those with the highest short interest. Rally also in conjunction with financials, REITs highly correlated with the XLF

    unbelievable day

    I was actually heavily long BDN but it was underperforming all day. Finally sold it at a 20bps gain as its momentum weakened, only to see it rise more than 7% after I sold! Would've been a career day if I held on.

    Oh well, but this day opens up some good short opportunities (MAA and FR are screaming shorts)
  4. let's only hope:)