I had previously thought FR would trade in a range of 5 - 7. In fact, it has been trading in a range of 4-6. Presently, both FR and PLD have traded up to their 150 day Ma (FR: 6.02 and PLD 10.92) AMB has traded up to the 200 da MA - 22.03
All of these stocks are overbought , technically, as is the overall market. It would be normal for there to be a pull-back of 20- 30%. It will be technically significant to observe FR'S relative performance during a general set-back
That is why I am banking it.. This is cheapest way for me to buy commercial property at these levels..Since my smaller investor is all tied up and can't get financing and my owner users can only think short term and bite on signing these lower lease for a few years.. The easiest way for me to put my cash to work.. Gosh I wish I had $500K to drop in this puppy long term..
Near Term Objectives: 200day MA 7.86 to 8.50 triangle objective
Long Term Obj: close gap in mid twenties
Take a look at HOT (Starwood Hotels): Duncan is Chairman - low at 8 - now about 26
Some of the doom and gloomers like the night watchman were buying 3 % CDS at the March lows and are still writing negative warehouse stories although the over-all market is up 50% and probably due for a 20% correction. I suspect that in this environment the underperformers will out-perform
I don't have any idea if we'll see a correction - I think we'll be bumpy. But since almost every one "expert" on TV is calling for a "correction", "retesting", blah blah blah - I'd guess we won't have as big of one as they talk about.
As long as companies produce profits then the market should stabilize and start to see companies get judged based on fundamentals.