ARE’s Mission Bay Center
Sorry for the being away for so long but there has been nothing to write about. While the equity market has been moving sideways, I have been trading in the foreclosure real estate market. If you think the equity market is dumb, try dealing with the players in the real estate market (particularly idiot appraisers - but that’s another post).
I’m starting to see selling behavior in ARE. Pfizer recently announce that they are not going forward with their Mission Bay project. You can read the press release HERE.
I’m still playing ARE to the downside and I expect the next earnings release to be crap - then again, they are always crap. The crappiness may start to be reflected in the stock price very soon.
Short: ARE, ACC, KRC, AA
Long: FAZ, SRS, SMN, FXP