Keeping it simple with a pitchfork idea on this REIT etf IYR . REITs and Utility stocks got sold off as traders rotated out of dividend stocks and into growth stocks. I believe a limit buy under $91 is a conservative entry with a sell limit near the middle of pitchfork . However, I'm leaning towards a credit put spread at $91/$90.5 3-4 weeks out. Keep the TNX on...
IYR is the ticker symbol for U.S. Real Estate ETF. Since the financial crash in 2009, the instrument is steadily rising and currently only $1 from breaking the 2007 all-time high. In the short term chart below, we can see the rally is unfolding as an 5 waves impulsive Elliott Wave structure. The impulsive rally started from August 5, 2019 low where wave ((i))...
Adding this to my watch list.
REITs must distribute at least 90% of their taxable income annually to shareholders as dividends and distributions. At least 75% of the REITs’ assets must be in real estate, cash or U.S. Treasurys, with at least 75% of the income coming from rents, mortgages or other real estate investments.
This has a history of topping in July...
