Friday closing call: hold short positions into next week

1) The Pivot Trend System remains SELL signals on both XLF and IYR. It also indicates a 5% down on IYR (target around $33.4) in the next 1-2 trading days, which sets a target about $19.5 for SRS. The downside could potentially be more than this.

2) If IYR closes above $35.6, the above indication will be invalid. That is where my stop is. Careful review will then be needed.

3) I loaded the 3rd size of SRS back at $17.7 before close, now holding 3 sizes of SRS positions with avg cost $19.06 for this play. Also loaded some SRS calls as med-term positions early morning. To me, I feel comfortable about holding them into next week.

4) Have a good weekend, and good trading next week.