The SRS (2x bearish/short REIT sector ETF) has hit the final target, T2 at 30.32, for a total gain of 12% or a beta-adjusted gain of 8.6% (0.70 suggested beta-adjusted position size). Previous & updated daily charts below (click first chart to expand, then click on right of each chart to advance to the next image. Once expanded, charts can be panned & zoomed).
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- SRS daily Aug 22nd
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- SRS daily Sept 28th
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- SRS daily Oct 11th
Consider booking partial or full profits and/or raising your stops if holding out for the unofficial third price target around the 32.00 resistance level. Here’s the daily chart of IYR (non-leveraged REIT sector ETF) showing the comparable support level that was hit today.
IYR daily Oct 11thSRS