In Dr. Alexander Elder's book "Come Into My Trading Room", he discusses the fact that a professional trader may make several attempts to get into position.
Just because the ProShares UltraShort Real Estate ETF (NYSEARCA:SRS) was stopped out does not mean that the set-up is invalid.
The price action at today's session just gives us one more piece of data.
The chart below shows that the iShares U.S. Real Estate ETF (NYSEARCA:IYR) may be coming back up to test the trend-line break.
Chart by TeleChart
Disclosure: The author has no positions in any stocks mentioned, but may initiate a long position in SRS over the next 72 hours.