Short Scalp: Public Storage ( PSA 114.85) Another REIT in extreme upward territory

Rationale: Public Storage (PSA 114.85) is another example of a REIT in overbought territory. After a parabolic upward move with its price well above it's upper 20 day bollinger band and extreme MACD momentum, expect a pullback to it's 5 day EMA (113.55). From there expect minor resistance with another potential leg downward toward it's 20 day ema.

Target: 1st 113.55, then toward 20 day ema

Stop: 116.50