13Mar3:19 pmEST
Pressing a Bet; Chess Moves
I added to my open GOOGL short here at $551.18, pressing the bet for further weakness next week.
My original entry was noted here earlier this week at $557.15 with a cover-stop over $585.
My cover-stop remans the same, and the position now equates to roughly 6% of my portfolio capital.
The bear thesis of a weekly topping pattern is still in play, and I am simply adding into some slight profit cushion to kick off the trade.
UPDATE: After scaling gains on the way up, I sold the rest of UVXY day-trade long at $18.86 from $18.83 entry. I am not going to hold UVXY over the weekend.