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Truth is timeless: “Markets never change” – Jesse Livermore, 1923 The early masters, Livermore, Wyckoff and Loeb isolated themselves from the crowd and crowd thinking. None of them ever graduated high-school and yet they each became legends in the market. Their techniques have been time-tested.... More
  • Real Estate Update.......... Waiting For The Entry 0 comments
    Jun 20, 2014 4:29 PM | about stocks: IYR

    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.

    (click to enlarge)IYR Daily

    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.

    Stocks: IYR
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