Looks like the SRS flippers have helped to recapitalize the banks. No guarantee it even stops there but it looks better from up here than it did at $29. It is getting over-extended in the short-term and might see a pullback to the 32-33 area. It really depends on when Newman wants to take profit. See also: Mish in 'Bernanke Terrified Over Commercial Real Estate, Seeks Still More Power Over Consumer'. Still waiting...
[Addendum] Also above that line is 36-38 in the event there is more exuberance over the possibility the Fed gets involved in CRE. This is fun to watch. This video is not.
