weekly chart has showed accumulation for some time. hope you are set for the ride. this is another which will float back up to pre-gfc days sooner rather than later. news shortly should show direction one way or other. to date has been good.
have a look at the weekly and then the 3 monthly and then the one year chart. all look good. 40c and then 50c will be the barrier and then some work to do before $1+
I like the way the REITs move up when the dow is slow. they move to a different drum. it is longer term and wont fall if the dow has a bad night. the general movement is up and should maintain that momentum. perhaps may be seen as a safe haven before jobs data tonight and may partly explain jump in IIF, VPG and some other reits this week. if dow picks up then reits suffer. quick money moves on to specs. iif is a good place to be today. holding since 24c and just wish had some more. topped up this week and expecting a surge. last run was June announcement where surged from 15c to 30c
now with August announcement due should see a steady run from 25c to ? hoping for 50c but will see.
IIF Price at posting:
31.1¢ Sentiment: Buy Disclosure: Held
