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I covered a piece of my FB short here at $74.32 from the $76.22 entry noted in
this blog post yesterday to lock in gains.
I am trailing stop down to entry on rest of the position. It was roughly 4% of my portfolio, and now is a little over 2% of my trading portfolio capital.
The FB daily chart, seen below, shows price now hitting the lower Bollinger Band, indicative of short-term oversold conditions and a decent spot to lock in profits on the short side.
However, I am leaving some of the position on to play for a test down to the 200-day moving average (yellow line).
As for my open positions they are: Long NUGT, Short AAL FB LOW UAL V.
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