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Let’s face it, the market might be a snooze-fest until Thursday morning, so let’s trot out at old favorite ETF, which is IYR, the real estate fund. This hit a major bottom on October 13th (of course) when it tagged its Fibonacci retracement level, and it recovered almost all the way up to the next Fib higher. Since then, it is meandering, but I’ve gone ahead and acquired some March $88 puts on this sucker.
There probably hasn’t been any symbol mentioned more often on Slope over the past year than IYR, the real estate fund. This morning, we got closer to the major Fibonacci retracement (91.64) than we’ve been in months. The yellow tinted area is, to my mind, a tremendous top.
This is a bit silly, but pretty interesting, representation of average home sizes in each state of the U.S. The tiniest homes are in Hawaii – – just a shade over 1,000 square feet – – whereas the homes in Utah are nearly 200% larger! Bigger families and lots of cheap land, I suppose. Anyway, here ya go:
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