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From the Blogosphere
ProLogis (PLD) Impaled Despite Asset Sale
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You know there are problems with your business when your stock is hammered despite doing something that appears to be very positive on the surface. I covered some ProLogis (PLD) (one of our 4 REITs) into the close yesterday as the stock was down 15%sh. This would be the 3rd round trip in just over a week (15% each trade!) in this massively volatile sector. Each time government steps in (Fed day, Geithner day) they rocket, then reality sets in within 48 hours. The chart is deceiving because its such a low priced stock but this is huge volatility in between the $5s and $7s.
Now what was so...
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Cutting Back Commercial REIT Shorts, Again
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<>I am doing this trade over and over in the commercial REITs - every time they lift I'm shorting them, and they seem to fall 15%+ within 48 hours. Money.
I'm covering good portions of Macerich (MAC), Kimco (KIM), Duke Realty (DRE), and Prologis (PLD)... not sure what happened to the latter name yesterday but it imploded in the last 20 minutes of the trading day. Down another quick 6% this morning. So this "basket" was about a 6% allocation and I'll take it down to under 3%... and keep repeating this trade. We've already done it twice in a week. Duke Realty is almost at $5 so we might lose the...
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Bookkeeping: Cutting Back Commercial REIT Shorts Again
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I am doing this trade over and over in the commercial REITs - everytime they lift I'm shorting them, and they seem to fall 15%+ within 48 hours. Money.
I'm covering good portions of Macerich (MAC), Kimco (KIM), Duke Realty (DRE), and Prologis (PLD)... not sure what happened to the latter name yesterday but it imploded in the last 20 minutes of the trading day. Down another quick 6% this morning. So this "basket" was about a 6% allocation and I'll take it down to under 3%... and keep repeating this trade. We've already done it twice in a week. Duke Realty is almost at $5 so we might lose the ...
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Bookkeeping: Adding ProLogis (PLD) to my Basket of REIT Shorts
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Slowly but surely building this CRE basket [Mar 13: Bookkeeping - Beginning to Build a REIT Short Portfolio] - this is name #4; but unlike the others this one has more of a focus on industrial rather than retail: ProLogis (PLD). Starting a 1.4% stake just north of $7 as the stock is up 9% as "worst is first" is the order of the day. After taking some profits yesterday morning in the group [Taking Partial Short Profits] I've expanded the basket back today in this very volatile group. This takes our short exposure back up to near 5% for the "basket". Again, I've been shorting this sector ...
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Bookkeeping: Beginning to Build a REIT Short Portfolio
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