Down to Half an X Now; Chess Moves
I sold another piece of my X long here at $27.21 from my $25.40 entry to scale more gains into this strength as the stock becomes short-term overbought.
I am raising my stop-loss to my entry price now, and have roughly 1/2 of the original position size.
I am also still short XLU, utilities, and down roughly 1% on the position as the utes grind a bit higher. The 50-day moving average is declining and just above price, which should be a big key as to with the trade goes for or against me this week, depending on how price reacts. I still view the XLU as a corrective chart, though.