Trade Idea: JPM CORE SHORT

I had closed JPM as a core short, from what I recall it had been in the green, but I expected  a counter-trend bounce and I intended to add JPM back.

Right now JPM is at or near the second (last) shoulder of a Head and Shoulders top. This area, near the top of the right shoulder is the last place I'll short a H&S pattern until it breaks below the neckline and then bounces to shakeout new shorts that jumped in on the break of the neck line. This area now is the second best entry, the first is at the top of the head, but this isn't bad. The last entry (the bounce or shakeout move AFTER the H&S breaks the neckline) is a decent place, but it didn't as good as this area.

I'm going to add half of a fu8ll core position using JPM short.

If we get a bounce toward the top of the second shoulder in the >$54+ area, then I'll add to the position looking to bring it up to a full position size.

For now, half position size in JPM short as a CORE position (Position trade or Trending).

When shorting (not buying an inverse ETF-short exposure), keep in mind you are responsible for the dividend if you are short the asset when it goes ex-divy. That's not a big concerns for me, but it is something to keep in mind.