Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Secret sauce bringing the mojo!

[DZtrader]

What a  nice little run indeed! Seems like things are panning out for Powel and other central banks. Soft landing very much a reality right now with rates coming in as anticipated with slowing demand and a softening economy. I had mentioned some time ago we were heading back to 4600 and if we could get through will take a run at the 4800 level on the S&P. I think this looks acheivable from here  as we typically overshoot in both directions. We had the downswing and are now enjoying things the other way. I suggested I was constructive the overall market to year end which I remain, enjoy the ride. We will have to consolidate sometime in the not too distant future but for now seems like the market is feeling its oats. The mantra will slowly change depending upon how far the market runs and how soft the numbers start coming in. The change will be from hitting peak rates now focusing on when we get cuts. My guestimate earlier this year was that by the end of the second quarter we will likely see our first cut and I will hold to that for now.

I had mentioned maybe a month or so ago that reits were to be bought and financials were front and center for me. I was somewhat surprised to hear that real estate was second only to technology in the U.S. I think it safe to say we have definately stabalized here with a bias to an upward move having already started. While headwinds still remain for reits I think the entry point last month will prove to have been appropriate. With regards to Artis, as noted earlier, I didn't think it would see significant tax loss selling as someone had decried here and that appears to be holding true although there is still a fair bit of calendar year remaining.

Over all, market is eating up the "special sauce" being served up, that being rates have peaked, next move is a cut and the labor market is intact, quite a feat from where I'm standing. Now, we are softening so it will start to get interesing in the next while, in the mean time, let's fete!

I will leave you with this as I am bound for Bangkok, an old confucius saying.............................

"Man that go through turn style sideways...........................bound to Bangkok"!

Stay good,

DZ