I am long at 10.52. I am not happy with the huge daily volatility though. Now heres the 6 million dollar question..........what is the downside on this puppy? My 2 cents:
A major shopping mall reit filed for bancrupcy protection today and it looks like WRI holders and the whole reit sector is not reaxcting well to that as the market as a whole is up right now and reits are down 2% and wri is down over 5%.
2-The banks implode as all this mark to market nonsense and obscure accounting procedures and smoke and mirrors the banks have pulled for years comes to light. I am long BAC and C by the way but have stops right at my break even points. Im worried.
3-There are untold trillions in CDO'S unaccounterd for yet by the banks, the brokerage houses or anyone. Is that another shoe to drop?
4-The unthinkable happens. NYC realestate starts to tumble as builders start luring big biz and yppies away from manhattan and the rediculous renatl rates. I myself at age 50 have never been able to live in manhattan as was my dream. Not in a good area anyway. Many of us would love to have an alternative. Also NYC realestae apts are all really reallly old and and.....nothing lasts forever.
5-Unknown factors such as..........??????? more deflation? A black swan event?
6-Earnings fall apart and this stock gets pulled down with the whole market as the dow goes under 5000. Before you laugh, historicaly you could buy one share of the dow for the price of an ounce of gold. I believe that would put the dow in single digits. Correct me if I am wrong.
This was a screaming buy at 10, but at these overbought levels, I will be thrilled if it just stays above 13 thru the summer.