First REIT Oct 2013

So here we are again in familiar territory, after the August sell Off which happens almost every year by the way. Stocks come down, Banks and financial institutions adjust their target prices. History keeps repeating in front of our eyes. Anyway lets look at First REIT, I enjoyed the ride from 90cents to $1.25, sold if off to early. Now i am taking a second look at this because it is more attractive now after plunging by >40cents. But i did not excecute the order after looking at the following graph.

If my memory serves me right. Fibonacci retracement will show us significant levels in a bull run. usually prices will correct to 50% level after a good bull run, that means a good place to buy into First REIT again would be in the $0.855 region. 

Hmm,,, what to do? just wait and see.