Why did SRS go up Dec 12/2007

Hi Everyone,

This confused the crap out of me, SRS was at 92 bux a share a couple of days ago, and then it shot up 10%. I usually trade this in small lots from time to time. I assumed it would go down today, becuase of the interest rate cut?

Why did this go up, I know this is a newbie question, but would appreciate it.

Thanks

 

Wasn't that something!

Looks like it bounced near the 8 weekly ema.

When another trader mentioned that he was looking to enter SRS around $90, I looked at the 5 minute chart and saw that it recently produced a momentum low on my screen. It looked nice, but I commented that it had a wide spread with low volume (below 1,000,000 at that time). Shortly after, it started climbing.

 

?...........real estate is still in bad shape. It seems to be inversely correlated to treasuries.

 

I didnt know a million shares was low volume on a 92 stock.

Thanks for wising me up

 

Dude, The SRS is an inverted real estate play tied to a multitude of equites that may effect share price. Ya gotta remember these etf's are not charted like equites.