PCLN Update

The short term long trade in PCLN in my view thus far looks fine, I think today's move was a shakeout and I think PCLN is going to make a move to the $1200+ area. I'm willing to hold PCLN long right now as a trading position.

At the same time, and I hope this isn't too confusing, if I didn't have the ability to take a quick long trade in PCLN, I'd have no problem holding a core short in a position that is built or still under construction. for new positions and add-t's, I'd try to wait until PCLN is above $1200 before looking at starting, adding or flipping back to the short side. 

The probabilities are far stronger for a PCLN short over a duration longer than a week (meaning I don't see a long trade here lasting very long, a week in my view would be about as long as I'd go, in reality it is likely to be far shorter).

If you are looking at PCLN as a position that you'd like to hold as a trending trade for perhaps months or longer, the probabilities are solidly in your favor on the short trade side.