Lowes and HD crappy earnings and a market pull back will bring URE back to reality and $4..or less...then its time to back up the truck..
Yeah...$4.50 would be a good place to start leveraging in...with $4 the last buy in if it gets that low. Even this mornings open wouldn't be a bad place to nibble some...but I think over the week and after HD stinks it up URE sees low 4's
4.50 should be just about rock bottom.
FYI, you will see "rock bottom" level of $4.50 very, very soon (probably within the next hour.) Prepare to put your spelunking gear on and be enlightened as to what is lower than "rock bottom".
Based on what? It's been much lower when CRE was at fewer foreclosures and higher lease rate. IMHO this could easily slid back to level of May or even March.