Covering Some Reits Here

Today I exited half my short position in the reits. This trade turned out to be very profitable for me but I had to hold it since April.

The reason why I exited half the position is because if you look at this last leg down in the reit index, it is very similar in price and time to the previous down move. I marked off the swings in red so that you can see what I am referring to.

I'm still holding onto half my position because I think there could be more downside coming. My original analysis as to why I am bearish on there reits can be found here.